Safe Security Receives $50 Million in Series B Funding to Propel AI-Centric Cybersecurity Solutions
In Brief
With this latest funding round, the total investment in the company surpasses the $100 million mark.
Participating in this round is Eight Roads, which is the venture capital division of Fidelity Investments.
The AI-powered data models used by Safe are collaboratively developed alongside MIT.
Safe Security has announced the completion of a $50 million Series B round led by Sorenson Capital, raising its total investment to more than $100 million.
This funding round also saw participation from Eight Roads, Telstra Ventures, WTI, and all previous investors.
According to Safe Security, their platform is the pioneering AI-driven solution designed for real-time management and mitigation of cyber risks. While they offer extensive insights into their technology on their website, detailed discussions about the AI components behind their cybersecurity offerings have been limited.
According to a press release Safe provides organizations with a comprehensive overview of their cyber risk landscape, allowing security teams to monitor every aspect of their attack surface, technology, personnel, and external partners.
Compatible with over 50 technology tools through read-only APIs, Safe can seamlessly integrate with leading tech platforms such as Adobe Experience Manager, AWS, Azure, Google Workspace, and Microsoft 365, among others.
The client base of Safe primarily includes organizations in the healthcare and financial sectors, such as banks and hospitals. Notable clients also comprise well-known brands like KFC, Chipotle, and EY. According to Saket Modi, CEO and co-founder of Safe Security, the company has experienced growth exceeding 200% annually for the past three years, driven by the increasing demand from regulators and the necessity for companies to accurately evaluate and manage cyber risks.
In addition, Safe offers Chief Information Security Officers (CISOs) a way to evaluate the effectiveness of their current security measures. Using frameworks like MITRE ATT&CK and D3FEND, the platform maps out possible cyber threats and pinpoints areas needing enhancement. Importantly, Safe ensures that its insights are accessible not just to tech specialists but also to executives like CEOs and CFOs who may not have a technical background.
Shaun Khalfan, CISO at Discover Financial Services, remarked: “Discover views cyber risk as a critical element that can deeply influence our operations, and understanding our current risk status is vital to managing it effectively. The SAFE platform streamlines our onboarding process and clearly illustrates the risks associated with essential business applications and assets.” top risks SEC is intensifying efforts against growing cybercrime by expanding its cryptocurrency enforcement unit.
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In line with the Trust Project guidelines Cindy, a journalist at Metaverse Post, specializes in reporting on web3, NFTs, the metaverse, and AI, spotlighting interviews with figures in the Web3 industry. With over 30 high-profile executive interviews under her belt, she brings valuable perspectives to her audience. Originally hailing from Singapore, Cindy is presently based in Tbilisi, Georgia. She has earned a Bachelor’s degree in Communications & Media Studies from the University of South Australia and boasts a decade of experience in journalism.
