Cybersecurity startup Protexxa has raised CAD$4 million in seed funding. The company aims to address the risk to businesses resulting from gaps in personal cybersecurity for both companies and individuals.
Its seed funding round was led by BKR Capital, which makes transformational investments in disruptive companies and promising Black technology founders. The Firehood Angels and several angel investors, including Jeff Fettes, Annette Verschuren, and Leen Li also participated in the round.
The funds will be used to build out the cybersecurity platform with assisted remediation technology, facilitate pilots with global customers, and prepare to scale its operations. The company is currently in the process of filing several patents.
Protexxa is the brainchild of global information technology leader and cybersecurity executive Claudette McGowan. Prior to Protexxa, McGowan held the role of Global Executive Officer for Cybersecurity at TD Bank. As she is passionate about advancing women in technology, 70% of Protexxa investors are women.
Protexxa personalized cybersecurity protection platform
Of the 4.95 billion global internet users, half are victims of cybercrime and most don’t even realize they have been compromised. Protexxa is addressing the human element of cybersecurity by connecting the dots between personal cyber hygiene and business risk.
Using artificial intelligence (AI), the Protexxa platform identifies, evaluates, predicts, and resolves common cyber issues. With 43% of cyberattacks aimed at small businesses, cyber solutions for businesses of all sizes are needed now more than ever.
Protexxa’s personalized cybersecurity protection platform is currently being piloted across several industries including government, academia, and healthcare.
“Since the pandemic, cybercrime has quadrupled and continues to accelerate. Our goal is to be part of the solution. Through Protexxa, we will democratize cybersecurity by making it more accessible for both businesses and individuals,” says McGowan, who is at the helm of Protexxa in the role of Chief Executive Officer.
“The key is to connect the dots on how personal cyber hygiene can affect an organization. This means identifying blind spots and building out personalized training, assessment, and awareness plans to move cyber health in a positive direction.”, McGowan concluded.