Who invested in Protexxa?

The investment came from Bell Ventures, the venture arm of the country’s largest communications company, Bell Canada, and Sandpiper Ventures, a fund for women-led innovations. 

The round also saw strong support from existing shareholders, Export Development Canada, BKR Capital, The Firehood Angels, and Graphite Ventures. Further investors include Global Risk Institute President and CEO, Sonia Baxendale; Tricon and Cidel Co-founder, Geoffrey Matus; former Home Depot Canada CEO and current NRStor CEO, Annette Verschuren; and business lawyer and Distinguished Counsel in Residence at Toronto Metropolitan University, Ralph Lean. 

How will it use the investment?

The new capital will fuel engineering and data science innovations on the platform, and grow its sales and marketing teams as it expands further into global markets. Looking to the US as its next major opportunity, the company is already seeing demand for its enterprise solution among financial, telecommunications, and healthcare institutions where security concerns are mounting.

Additionally, Protexxa has welcomed a new advisor, Communications Leader, and Philanthropist, Dr. Donette Chin-Loy Chang.

“People are overlooked when it comes to cybersecurity solutions – a blindspot that leaves companies exposed. Protexxa has proven the human-side of risk is where the world needs to focus,” said The Firehood Co-founder, Danielle Graham.