Boston-based DeNexus, the cyber-risk modelling firm, plans to launch its subsidiary, DNX Intermediaries (Bermuda) Ltd, this year, the company said.

The news came as DeNexus announced significant investments from leading energy and insurance companies to meet the escalating global demand amid evolving cyber threats to critical infrastructure and OT (operational technology) environments.

DeNexus said it planned to use strategic investments to accelerate the enhancement of its flagship DeRISK platform and establish and grow a market presence in these key industries.

The company said its long-term growth strategy involves enhancing its capacity to assist industrial organisations, underwriters, reinsurers, and insurance-linked securities investors in comprehending the risks associated with cyber attacks on industrial companies and critical infrastructures.

DeNexus's modelling and risk management capabilities have empowered industrial clients to enhance their cybersecurity, implement ROI-driven risk mitigation strategies, secure insurance coverage, optimise policy premiums for better coverage, perform prudent capital management and meet new compliance regulations, the company said.

It added that the cyber data accumulated over the years in the DeNexus Knowledge Centre would enable the risk transfer industry to make a superior risk selection, efficient underwriting and claims management, and will stimulate risk capital expansion.

“The incredible growth we have had, coupled with investments from major players in the industries we serve, is testament to DeNexus's vision, value and year-on-year track record as a market leader in cyber-risk modelling and risk transfer," said Jose Seara, founder and chief executive officer of DeNexus.

“As we embark on this exciting phase of growth, we are looking forward to building a full stack solution for cyber-risk and continuing to help companies take control of their cyber-risk.”

In 2024, DeNexus said, it was aiming to accelerate the widespread adoption of its DeRISK cyber modelling and risk management platform by industrial enterprises and physical critical infrastructures.

Investments will support technology development and updates catering to industrial, insurance and reinsurance, and ILS sectors.

DeNexus said it had launched a series of “ever-improving” cyber-risk quantification models under its DeRISK platform, which helped both industrial organisations and underwriters comprehend and price the real risks related to cyber incidents.

DeNexus said its Bermudian-based subsidiary would efficiently serve the cyber-risk transfer market.

The Bermuda Monetary Authority granted DeNexus a sandbox licence last July after a yearlong application process.

The company was previously based in San Francisco but has now moved its US office to Boston.