Investible Funds Protos Labs to Revolutionise Cyber Risk Quantification for Insurers and Enterprises
Protos Labs is proud to announce our recent partnership with Investible, an Asia-Pacific-based venture capital firm investing in technology companies globally.
With investments in over 100+ companies from 20 sectors, the Investible Early Stage Fund 2 has recently added Protos Labs to its portfolio. Besides Investible, other investors include TIM Ventures (an FWD-backed VC), Plug and Play, GK Accelerate, 1337 Ventures, and other ultra-high-net-worth individuals based out of Singapore.
Cybersecurity threats are getting progressively lethal, with the average cost of a data breach in the financial sector amounting to US$5.97 million in 2022. Despite cybersecurity threats becoming increasingly volatile and damaging, cyber risk management has lagged over the years through a static approach. Protos Labs, set up by the founder-duo Joel Lee and Simeon Tan, allows for a more dynamic view of cyber risk by adopting a first-of-its-kind threat-based approach. With our proprietary software Nexus, enterprises with a cyber risk management programme and cyber insurance underwriters can quantify their cybersecurity risk against an evolving threat landscape.
With a growing cybersecurity market in Southeast Asia and an increasing appreciation for the threat-based approach, Protos Labs is positioned to revolutionise cyber risk management. We thank Investible for believing in and supporting us in this endeavor and look forward to achieving greater heights through this partnership.