Axio raises $23M in Series B funding round

Axio Global Inc., a New York-based cyber risk engineering firm, on Thursday said it had raised $23 million in a Series B funding round.

The investment was led by ISTARI Pte. Ltd., part of Temasek Holdings Ltd., a Singaporean state holding company owned by the Government of Singapore, and also included Axio Chairman Bob Dudley, a statement said.

ISTARI will appoint two additional members to Axio’s board of directors: ISTARI Chief Technology Officer Mark Malecki and Managing Director of the Americas Curt Dalton.

This round brings Axio’s total funding to $30 million, including a $4.5 million Series A round closed in 2018. The company was founded in 2016.

Scott Kannry, CEO and co-founder of Axio, said in the statement there is growing global demand for cyber risk quantification.