Protexxa raises $4 million to close cybersecurity gaps for businesses and individuals


Cybersecurity startup Protexxa has raised C$4 million in seed funding. The company aims to address the risk to businesses resulting from gaps in personal cybersecurity for businesses and individuals.

Its seed funding round was led by BKR Capital, which makes transformational investments in disruptive companies and up-and-coming dark tech 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 develop the cybersecurity platform with assisted remediation technology, facilitate pilot projects 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 Claudette McGowan, world leader in information technology and responsible for cybersecurity. Prior to Protexxa, McGowan served as Global Managing Director for Cybersecurity at TD Bank. As she is passionate about advancing women in technology, 70% of Protexxa’s investors are women.

Protexxa Custom Cybersecurity Protection Platform

Of the 4.95 billion Internet users worldwide, half are victims of cybercrime and most don’t even realize they’ve been compromised. Protexxa addresses the human element of cybersecurity by connecting the dots between personal cyber hygiene and business risk.

Using artificial intelligence (AI), the Protexxa platform identifies, assesses, predicts and resolves common cyber issues. With 43% of cyberattacks targeting small businesses, cyber solutions for businesses of all sizes are needed more than ever.

Protexxa’s custom cybersecurity protection platform is currently being tested in multiple 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 to businesses and individuals,” said McGowan, who leads Protexxa as chief executive.

“The key is to connect the dots on how cyber personal hygiene can affect an organization. This means identifying blind spots and developing customized training, assessment and awareness plans to move cyber health in a direction positive,” concluded McGowan.


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