Protexxa is a cyber security startup that secured $10 million in its series A funding round, which Bell Ventures, Sandpiper Ventures, and family offices led. The company plans to use these fresh proceeds to expand its sales and marketing team, develop its market presence, and enhance its platform. The investment will also increase data science innovation and engineering. Here we are talking about Cyber security startup Protexxa secured $10 million in a series A funding round from family office, Bell Venture, and others.
The startup uses artificial intelligence-based technologies to help organizations address cybersecurity by identifying threats and issues and offering solutions. The startup provides a platform that lets an individual find exposed passwords and offers solutions to respond to cyberattacks. The company also gives a cyber health score to inform those organizations of their security health. The increased usage leads to a new landscape of threats and risks involving AI models, such as privacy, data leakage, and other concerns. In this ever-changing landscape, the emergence of Proptexxa plays an important role in defending systems against cyber attacks. The application allows businesses to develop a scalable production of cyber security systems and manage cyber-attacks.
The company also secured $5 million in its seed funding round during 2021. The CEO and founder of Protexxa, McGowan, mentioned that artificial intelligence is providing attackers more opportunities to scale, and there is a shortage of cybersecurity talent to help reduce these risks surrounding AI. Cybercriminals use AI for attacks such as phishing emails and injecting malware or deepfake images and videos. The company aims to find and remove such images while analyzing how this online behavior contributes to future attacks. This advanced technology will revolutionize security operations and enable more precise and accurate responses to cyber attacks.
Protexxa is a B2B SaaS cybersecurity company connecting personal cyber health with business risk. The funding raised during the new round will also be used to develop advanced Gen AI and Artificial intelligence solutions and expand the team. The company intends to increase its performance in AI capability, and it is already working on expanding into the US market. The company wants to make its solutions stronger and reach more people globally. The startup faces competition from other cybersecurity companies such as Tenable, GardaWorld, and AttackIQ. This development came just after cyber security startups started gaining an increased interest from investors in the global startup ecosystem.
Conclusion
Proptexxa is a Canadian cyber security startup that secured $10 million in its series A funding round from its family office. The company offers an artificial intelligence-powered platform allowing organizations to respond to cyber risks. The application provides companies with solutions by identifying flaws and checking the cyber health of their systems. The startup intends to use this fresh capital to enhance its platform and develop its market presence. The investment will also be used for data science and engineering. The company aims to create strong artificial intelligence and cyber security solutions that allow businesses to work against cyber criminals.
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