US-based Safe Security, a startup offering an effective platform to corporations for tackling and assuaging cyber risk in real-time, has raised US$ 33 million in Series B funding led by UK’s BT Group on 21 July 2021.
Investors: The funding round featured BT Group as the lead investor with participation from John Chambers, CEO of JC2 Ventures. The startup has raised, in total, US$ 49.2 million to date owing to the support from additional investors, namely, MS&AD Ventures, InnoVen Capital and many others.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round towards setting the pace for making SAFE scores the industry standard for analyzing and alleviating cyber risks.
About Safe Security
Established in 2012 by Rahul Tyagi, Saket Modi, Vidit Baxi, Vinu Thomas, Safe Security seeks to leverage AI to help organizations mitigate cyber risk in real-time. It employs a scoring paradigm initially framed as a collaborative research project at MIT — one that operates cybersecurity sensors, extrinsic warning intelligence, and organization data with the help of an AI-supported engine to build scores and the pound value threats that a business confronts. The macro and micro-level scores are derived separately. The scores are scaled for specific streams of enterprises as well as departments. The startup presently recruits over 200 people working worldwide. It intends to expand the size of its engineering team to around 200 engineers. It estimates its total headcount to rise to 300 by the end of the coming financial year.
What the Founder has to say: “Lining up BT’s worldwide coverage and potential with Safe’s capability to offer instant tracks on cyber risk posture will be a huge turning point for cyber risk management. It will primarily transform how cybersecurity is calculated and maintained across the world. We witnessed a 270 per cent growth in revenue in the previous financial year. We aim to surpass our record in the coming financial year. We estimate that our earnings, particularly from the US would grow six folds in the next year.”- Saket Modi, Co-Founder and CEO of Safe Security.
What the Investors have to say: “The emergence of a new digital age has provoked concerns for cybersecurity among numerous corporations and government establishments. Industries are eager to be assured of being shielded against growing cyber-attacks. Joining hands with SAFE and including them in BT’s dynamic, trajectory security offerings will provide clients with a modified glimpse of their warning level, and promptly highlight and suggest specific answers which would aid in fortifying their defences.”- Philip Jansen, Chief Executive at BT Group.
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