Cyber risk management startup Protos Labs announced that it has successfully raised S$3 million in seed funding.
The company intends to utilize the funds to hasten its global expansion and further its product development in the bid to reshape the cyber insurance and risk management sector.
Prominent industry players such as Lloyd’s of London and the Cybersecurity Agency of Singapore have already shown interest in Protos Labs’ unique solutions.
Built on advanced technologies including artificial intelligence, statistical modelling, and threat intelligence, Protos Labs equips organizations with the tools to make swift and informed risk decisions in an ever-evolving cyber threat landscape.
This approach aims to cater to cyber underwriters and enterprise risk managers with next-gen solutions.
Prominent investors in the seed round included BEENEXT, VinaCapital Ventures, Artem Ventures with FWD Insurance, Plug and Play Silicon Valley, Investible, Gan Konsulindo, 1337 Ventures, and Gobi Partners.
Highlighting the potential of the cyber insurance market, Faiz Rahman of BEENEXT expressed enthusiasm for Protos Labs’ innovative approach. Similarly, Low Zhen Hui from Artem Ventures emphasized the increasing need for robust cyber risk management tools in Southeast Asia.
Founded by Joel Lee and Simeon Tan, ex-leaders from Booz Allen, Protos Labs stands at the forefront of cyber risk management, striving to shield businesses globally from cyber threats.
BusinessNewsAsia