Axio Raises $23M In Series B

Axio, a NYC-based provider of SaaS cyber risk quantification solutions, raised a $23m Series B funding.

The round, which brings total funding to $30m, including a $4.5m Series A round closed in 2018, was led by ISTARI, with participation from existing investors, including Distributed Ventures, IA Capital Group, and Bob Dudley, Axio Chairman and former CEO of BP. As part of the Series B, 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.

The company intends to use the funds to accelerate expand operations and its business reach internationally, as well as to enhance its development efforts for the Axio360 platform.

Led by Scott Kannry, CEO and Co-Founder, and David White, President and Co-Founder, Axio provides a SaaS based platform, Axio360, which helps organizations centrally manage their cyber risk posture through cybersecurity assessments, risk quantification, and insurance stress testing.

Since 2016, the platform has been a partner to many of the world’s leading critical infrastructure, energy, manufacturing, and financial services companies.