Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


04:00 PM
Dark Reading
Dark Reading
Products and Releases

Cybersecurity SaaS Company Axio Closes Funding Round

Startup plans to accelerate platform innovation and expand offerings into the financial sector.

NEW YORK, June 11, 2020--Axio, a leading cyber risk management Software-as-a-Service company, today announced the close of funding led by Fin Venture Capital, IA Capital Group, and follow on participation from NFP Ventures. The investment will be used to accelerate platform innovation and expansion into new industries including the financial sector through a partnership with Fin VC’s network of financial institution partners and investors. 

Since its founding, Axio has been helping organizations lift the fog of fear, gain a clear understanding of cyber risk, and embark on a journey of continual and measurable improvement. The Axio360 platform was launched in May 2018 and since that time, has become the trusted cyber risk management operating system for nearly a thousand organizations, many within critical infrastructure thanks to Axio’s partnerships with various industry trade associations. On average, Axio360’s next generation analytics identifies an average of $431 of quantified risk minimized for every $1 of investment.

“With cybersecurity threats continually increasing and budget sensitivity at all-time highs, enterprises need a platform that enables all key stakeholders to understand cyber risk in a quantified view to validate and optimize their financial and technical controls to best protect their business,” said Scott Kannry, Founder and CEO of Axio. “We are thrilled to expand into new sectors and look forward to our developing a partnership with Fin VC’s network.”

Axio’s integrated software enables ongoing visibility and actionable insights across the organization including cyber risk quantification, cybersecurity assessment, financial stress testing and prioritization. This holistic view gives enterprises an understanding of what is at risk, how to protect against risk, examines the balance sheet protections needed to backstop cyber risk, and how to optimize cyber risk management to ensure the company’s value is protected in the near and long term.

“Axio has identified why enterprises are largely failing at cyber risk management and developed a solution that focuses on cybersecurity  as a business and risk management problem, not a technology problem. Their success in the energy space has already started to translate into the financial services vertical and we see them becoming the dominant platform helping protect the industry and its customers,” said Logan Allin, Managing General Partner at Fin VC. “We are proud to invest and partner with a 2020 Gartner Cool Vendor in Integrated Risk Management. Our partnership will support cyber risk management for our global network of financial institutions, insurers and corporates who absolutely must improve their cyber risk management.”

The Axio360 platform measures risk exposure and manages a cybersecurity program. For more information, visit https://axio.com/.


About Axio

Axio is more than cyber risk management software. It’s a new perspective for organizations to manage and communicate their cybersecurity programs with unmistakable clarity. The Axio360 platform empowers security leaders, senior executives, and boards of directors to define their maturity and exposure, make the best investment decisions, and ensure stability for any cyber scenario they may encounter. Regardless of how the world and its technology will change, Axio ensures organizations can always be one step ahead of the risk curve. 


Recommended Reading:

Comment  | 
Print  | 
More Insights
Newest First  |  Oldest First  |  Threaded View
COVID-19: Latest Security News & Commentary
Dark Reading Staff 7/14/2020
Omdia Research Launches Page on Dark Reading
Tim Wilson, Editor in Chief, Dark Reading 7/9/2020
Russian Cyber Gang 'Cosmic Lynx' Focuses on Email Fraud
Kelly Sheridan, Staff Editor, Dark Reading,  7/7/2020
Register for Dark Reading Newsletters
White Papers
Current Issue
Special Report: Computing's New Normal, a Dark Reading Perspective
This special report examines how IT security organizations have adapted to the "new normal" of computing and what the long-term effects will be. Read it and get a unique set of perspectives on issues ranging from new threats & vulnerabilities as a result of remote working to how enterprise security strategy will be affected long term.
Flash Poll
The Threat from the Internetand What Your Organization Can Do About It
The Threat from the Internetand What Your Organization Can Do About It
This report describes some of the latest attacks and threats emanating from the Internet, as well as advice and tips on how your organization can mitigate those threats before they affect your business. Download it today!
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
PUBLISHED: 2020-07-14
SAP NetWeaver AS JAVA (LM Configuration Wizard), versions - 7.30, 7.31, 7.40, 7.50, does not perform an authentication check which allows an attacker without prior authentication to execute configuration tasks to perform critical actions against the SAP Java system, including the ability to create a...
PUBLISHED: 2020-07-14
SAP Disclosure Management, version 10.1, had insufficient protection against Cross-Site Request Forgery, which could be used to trick user in to browsing malicious site.
PUBLISHED: 2020-07-14
SAP Disclosure Management, version 10.1, is vulnerable to Session Fixation attacks wherein the attacker tricks the user into using a specific session ID.
PUBLISHED: 2020-07-14
SAP Disclosure Management, version 10.1, session mechanism does not have expiration data set therefore allows unlimited access after authenticating once, leading to Insufficient Session Expiration
PUBLISHED: 2020-07-14
Logout mechanism in SAP Disclosure Management, version 10.1, does not invalidate one of the session cookies, leading to Insufficient Session Expiration.