Axio, a New York-based SaaS leader in cyber risk quantification solutions, announced that it raised $23 million in Series B funding.
The round was led by ISTARI, a Temasek-founded global cybersecurity firm dedicated to helping clients build cyber resilience, with additional participation from existing investors, including Distributed Ventures, IA Capital Group, and Bob Dudley, Axio Chairman and former CEO of BP.
This round brings Axio’s total funding to $30 million, including a $4.5 million Series A round closed in 2018.
Axio will use the investment to accelerate its mission of empowering security and business leaders to discover and respond to the cyber risks that most affect their organizations.
As part of the funding, ISTARI will appoint two additional members to Axio’s Board of Directors. ISTARI’s Chief Technology Officer, Mark Malecki, and Managing Director of the Americas, Curt Dalton, will join the Board chaired by Bob Dudley, former CEO of BP.
Company: Axio Global, Inc
Round: Series B
Funding Month: Aug 2022
Lead Investors: ISTARI
Additional Investors: Distributed Ventures, IA Capital Group, and Bob Dudley
Company Website: https://axio.com/
Software Category: SaaS-based cyber management software
About the Company: Founded in 2016, Axio is the leader in SaaS-based cyber management software, which empowers security leaders to build and optimize security programs and quantify risk in financial terms. Axio360 is the only cyber risk management platform to align security leaders, business leaders, and Boards of Directors around a single source of truth about their most critical corporate risks. Axio360 helps organizations centrally manage their cyber risk posture through cybersecurity assessments, risk quantification, and insurance stress testing. Since 2016, Axio has been a trusted partner to many of the world’s leading critical infrastructure, energy, manufacturing, and financial services companies, helping drive better visibility and decision-making about cybersecurity priorities and investments.