Safe Security Hauls $50M for AI-Driven Platform to Manage Cyber Risk

Safe Security, a Silicon Valley-based cyber risk quantification startup, has raised $50 million in its Series B round for the development of its AI-driven platform to manage and mitigate cyber risk.

The round, which brought the total amount to over $100 million, was led by Sorenson Capital. Eight Roads, Telstra Ventures, WTI, the venture capital division of Fidelity Investments and all Safe Security’s existing investors joined the round.

Through a data driven approach, Safe supplies organizations an aggregated view of enterprise cyber risk and cybersecurity teams gain visibility across their entire attack surface, technology, people and third parties.

“Tailwinds from regulators, cyber insurance, and boards to understand and quantify cyber risk in an aggregated and granular manner are propelling Safe into this exponential growth phase. Despite economic headwinds, Safe has been growing over 200% for three consecutive years,” said Saket Modi, CEO and Co-founder at Safe Security.

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.