Safe Security has secured a funding of $50m in its Series B round for the development of its AI-driven platform to manage and mitigate cyber risk.
Sorenson Capital led the latest funding round, which was also joined by the company’s existing investors such as Eight Roads, Telstra Ventures, and WTI.
Burke Davis, partner at Sorenson Capital, said: “Managing cyber risk is at a critical inflection point. There is a huge market opportunity for a horizontal layer across the entire cyber stack for managing risk.
“We invested in Safe because it is uniquely positioned to assume this leadership role in this new category with its real-time AI-driven approach.”
The latest round takes the total funding raised by the cybersecurity start-up till date to more than $100m.
Safe Security’s platform is said to be the industry’s first AI driven, real-time solution for managing and mitigating cyber risk.
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It employs data driven approach to offer organisations an aggregated view of enterprise cyber risk.
“This visibility enables organisations to move away from a reactive state and take on a predictive posture to understand the likelihood of different cyber risk scenarios,” the company said.
Safe developed predictive data models in collaboration with MIT.
Safe Security CEO and co-founder Saket Modi said: “Despite economic headwinds, Safe has been growing over 200% for three consecutive years. “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 realtime, data-driven platform for managing and mitigating cyber risk.”