Meet Protos Labs. This Singapore-based startup offers NEXUS, their comprehensive cyber risk analytics platform. And they just raised a $3M seed! Here’s why it’s a win-win for both insurers and businesses.

Investor check. BEENEXT, VinaCapital Ventures, Artem Ventures (in partnership with FWD Insurance), Plug and Play Silicon Valley, Investible, Gan Konsulindo, 1337 Ventures, and Gobi Partners joined the round!

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🔤 The context

We don't mean to scare you but…cyber risk is everywhere! And the worst thing you can do? Not effectively protecting yourself against the big bad breaches, vulnerabilities, and more.

The problem? Both insurers and businesses have it tough. Businesses don’t know what cybersecurity insurance is right for them, while insurers struggle to accurately price and underwrite risk.

• Why? Cybersecurity threats are only getting worse, and it’s tough to know who’d be at risk (and how bad it could be!).

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💡 The solution

NEXUS automatically takes in millions of data points to get you a holistic view of the cybersecurity risk. Oh, and they also give you real-time updates on the evolving threat landscape!

For insurers. Their platform can reduce your underwriting costs, price accurately, and shorten sales cycles. Oh, it helps you manage your clients' risk from underwriting to the policy issuance, and you’ll even be able to monitor their changing risk levels over time!

• Alarm bells. Get early-warning detection updates of high-risk events among your clients too.

For enterprises. Businesses, you’ll be able to assess, monitor, and reduce your cyber risks in real time!

• You’ll even find out the ROI on your insurance coverage and easily manage your budget — because we all know cyber insurance ain’t cheap.

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↗️ What's next?

They're going to ramp up global expansion and product development.