Cyber security startup Safe Security raised $50 million in Series B led by Sorenson Capital where Fidelity Investments’ venture capital arm Eight Roads, Telstra Ventures, WTI, among others also participated.
The startup stated in a statement that it will continue to innovate ahead of the market and lead the charge with its real-time, data-driven platform for managing and mitigating cyber risk.
Safe Security, founded in 2012 by Saket Modi, Vidit Baxi, and Rahul Tyagi, provides AI-driven, real-time solutions for managing and mitigating cyber risk. It provides an aggregated view of enterprise cyber risk to organisations, and cybersecurity teams gain visibility across their entire attack surface, technology, people, and third parties.
It also enables Chief Information Security Officers (CISOs) to assess the effectiveness of their cyber security controls. The California-based startup claims to serve over 200 businesses worldwide, including many Fortune 500 corporations.
“Tailwinds from regulators, cyber insurance, and boards are propelling Safe into this exponential growth phase.” Despite economic headwinds, Safe has grown by more than 160% for three consecutive years’, said CEO and cofounder Modi.
In 2021, Safe Security raised $33 million in a funding round led by BT Group, one of the UK’s largest telecommunications and network providers. The startup has received over $100 million in funding to date.
