Safe Security, a startup building AI-based technology to help organizations manage cyber risk, has secured $50 million in new venture capital financing.
The company said the Series B funding round was led by Sorenson Capital. Safe Security also took in equity investments from Eight Roads, Fidelity Investments and Telstra Ventures
Safe Security, an early stage startup incubated in Bombay, India with headquarters in Silicon Valley, has raised just over $100 million to work on technology to help businesses manage and mitigate and communicate cyber risk at scale.
Built on a supervised machine learning engine, the company’s platform uses a scoring algorithm to measure a company’s security posture, removing the need to manually manage multiple spreadsheets to aggregate results.
Safe Security and its investors are betting that new demands from regulators and cyber insurance will push enterprises large and small to invest in tools to automate and measure exposure to risk.
“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,” said Saket Modi, co-founder and chief executive at Safe Security.
He said 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.