Sydney, April 20th. Safe Security, a leader in AI-based cyber risk management SaaS platforms, today announced the closing of his $50 million Series B round led by Sorenson Capital. Investments, WTI and all existing investors.
The round brings the company’s total funding to over $100 million.
With the current macroeconomic climate, cybersecurity teams are reassessing their cybersecurity investments, but it’s the same as point solutions that don’t provide holistic cyber risk visibility and attack exposure points.
This financial pressure, combined with external cyber regulations and guidelines coming from the White House and regulatory bodies such as the SEC and the National Cyber Strategy, is forcing organizations in all industries to rethink their cyber risk management strategies. I’m here.
Legacy solutions are inadequate to meet these new requirements for real-time, data-driven cyber risk management. These traditional solutions require organizations to manage multiple spreadsheets and aggregate results, which is highly manual and subjective. they simply don’t work. New approaches are now required.
“The tailwinds from regulators, cyber insurance and the board of directors are propelling Safe into this stage of exponential growth by understanding and quantifying cyber risk in an intensive and granular way.
“Despite economic headwinds, Safe has grown over 200% for three consecutive years. , and we see a need for new approaches to quantifying cyber risk in a way that can be communicated across the ecosystem of third-party vendors.” Co-Founder of Safe Security.
“As we enter the next milestone in the company’s journey, we are committed to continuing to innovate ahead of the market and lead the way with the industry’s only real-time, data-driven platform for managing and mitigating cyber risk. I am focused.”
Marcus Bartram, Telstra Ventures Partner, said: We partner with them to solve the toughest problems in today’s security market, creating durable, large-scale solutions that help CISOs understand, manage, and quantify dynamic cyber risk across their organizations. We are happy to help them to become a company. ”
The Safe Security Platform is the industry’s first AI-driven real-time solution for managing and mitigating cyber risk. With this new data-driven approach, Safe gives organizations a consolidated view of their enterprise cyber risk, giving cybersecurity teams visibility across attack surfaces, technology, people and third parties.
This visibility allows organizations to move out of a reactive state and into a proactive posture to understand the likelihood of various cyber risk scenarios. Co-developed with MIT, Safe’s predictive data model allows customers to convert bits and bytes of cyber risk into dollars and cents.
Safe is the only cyber risk platform that allows CISOs to assess the effectiveness of cyber controls mapped with the MITER ATT&CK and D3FEND frameworks. In addition to presenting CEOs and CFOs with a clear view of corporate cyber risk,
Shaun Khalfan, CISO of Discover Financial Services, said:
“The SAFE platform offers a much easier onboarding experience and provides an objective view of risk for business-critical applications and assets. I think it will quickly become a must-have for board members.”
Safety and security
Safe Security is the leader in cyber risk management SaaS platforms.
Redefining cyber risk measurement and management with a real-time, data-driven approach that enables companies, boards, regulators and cyber insurers to understand cyber risk in aggregate and granularity.
Using Safe’s predictive AI-driven data model, co-developed with MIT, customers can now convert bits and bytes of cyber risk into dollars and cents. This allows you to prioritize your cyber investments to most effectively mitigate risk and understand your return. security investment. Raised over $100 million, Safe is growing over 200% year-over-year and serves some of the largest global companies.
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