Claudette McGowan, a seasoned tech executive with over 30 years of experience in IT and cybersecurity, has raised $7.2 million for her startup, Protexxa. A family office led the Series A funding round and aims to enhance the company’s AI-powered technology, which identifies potential cybersecurity threats and provides solutions. Founded in 2021, Protexxa uses advanced AI to detect vulnerabilities such as exposed passwords and develops response plans for cyberattacks.
The company also provides a “cyber health” score to help businesses stay aware of their security status. McGowan was inspired to create Protexxa due to the increasing number of cyberattacks and growing concerns about cybersecurity. People aren’t prepared for the reality of this risk,” McGowan said, emphasizing that simple actions like clicking an email link or sharing information over the phone can make it easy for cybercriminals to gain access.
She also noted that AI is being used to scale attacks, such as phishing emails and malware injection, and to create deep fakes for impersonation. Protexxa’s tools use AI to quickly identify and mitigate these threats by analyzing online behaviors that could expose companies to future attacks. McGowan described her fundraising experience as “formidable” but ultimately successful, thanks to the support of their original seed investors.
Funding boosts Protexxa’s cybersecurity strategy
Leading investors in this round include Bell Ventures, Sandpiper Ventures, BKR Capital, and Export Development Canada. Protexxa has raised a total of $10 million USD ($15 million Canadian dollars) to date.
People are at the core of any company’s success, but it is also through people that hackers infiltrate IT systems. We invested in Protexxa because it addresses the root cause of cyber vulnerabilities – the cyber hygiene of employees,” said Lise Birikundavyi, managing partner at BKR. McGowan’s extensive career includes Deloitte, BMO Financial Group, and TD Bank roles.
She plans to use the new capital to expand Protexxa’s marketing and sales teams, aiming for global market penetration and increased engineering and data science innovations. The company has already begun expanding into the US. I’m enjoying every minute of driving impact and demystifying cybersecurity,” McGowan said, emphasizing that empowering people with knowledge and tools to feel protected is key.
She finds the transformation in mindset and actions among Protexxa’s customers particularly rewarding.
