Safe Security, a startup that aims to help organizations manage cyber risks through AI-based technology, has raised $50 million in Series B funding led by Sorenson Capital. The funding round also included equity investments from Eight Roads, Fidelity Investments, and Telstra Ventures.
The company has raised over $100 million to develop technology to help businesses manage and mitigate cyber risks at scale.
Safe Security’s platform is built on a supervised machine learning engine that uses a scoring algorithm to measure a company’s security posture. The platform eliminates the need to manually manage multiple spreadsheets to aggregate results.
Furthermore, Safe Security and its investors are banking on the increased demand from regulators and cyber insurance, which they believe will push enterprises, large and small, to invest in tools that automate and measure exposure to risk.
Saket Modi, co-founder and CEO of Safe Security, said that businesses across all industries require 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.
At the same time, Safe Security’s product provides an aggregated view of enterprise cyber risk and tools for cybersecurity teams to gain visibility across their entire attack surface, technology, people, and third parties.
The Indian-based startup, which has headquarters in Silicon Valley, is among a growing number of companies that are focusing on AI and machine learning to address cybersecurity risks.
The company’s technology and approach have gained traction, with investors increasingly looking for ways to address the growing challenge of cyber threats.
