Safe Security collects $50m in its Series B

Safe Security collects $50m in its Series B

AI-based cyber risk management SaaS platform Safe Security has collected $50m in its Series B funding round, which was led by Sorenson Capital.

Eight Roads, Telstra Ventures, WTI, the venture capital division of Fidelity Investments and all of Safe Security’s existing investors also joined the round. With the close of the round, the CyberTech has raised a total of $100m.

Safe Security claims to be the industry’s first AI driven, real-time solution for managing and mitigating cyber risk. Through a data driven approach, Safe supplies organisations an aggregated view of enterprise cyber risk and cybersecurity teams gain visibility across their entire attack surface, technology, people and third-parties.

Through this visibility, organisations can become more predictive with their cybersecurity.

Safe Security CEO and co-founder Saket Modi said, “Tailwinds from regulators, cyber insurance, and boards to understand and quantify cyber risk in an aggregated and granular manner are propelling Safe into this exponential growth phase. Despite economic headwinds, Safe has been growing over 200% for three consecutive years.

“We are seeing companies across all industries requiring a new approach to quantifying cyber risk in a way that can be communicated across internal stakeholders, boards, government regulations, cyber insurance underwriters, and across the third-party vendor ecosystem.

“As we enter this next milestone in the company’s journey, we are focusing on continuing to innovate ahead of the market and lead the charge with the industry’s only real-time, data-driven platform for managing and mitigating cyber risk.”

In other CyberTech news, SpecterOps secured $25m for its Series A funding round, which was led by Decibel. The capital will enable the CyberTech to accelerate the adoption of its BloodHound Enterprise (BHE) solution. BHE is allegedly the industry’s first platform for comprehensively removing identity attack paths in Microsoft’s Active Directory (AD) and Azure AD.

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