Wednesday, May 22, 2024
Outlook.com
Outlook India
Outlook Business

Cybersecurity Firm Safe Security Raises $50 Million To Enhance AI Capabilities

The platform analyses API signals from around 50 cyber vendors to determine an organisation's real-time security posture and provide advice on bolstering protection

Cybersecurity Firm Safe Security Raises $50 Million To Enhance AI Capabilities
POSTED ON April 19, 2023 3:02 PM

Safe Security, a Silicon Valley-based cybersecurity risk quantification company, has secured $50 million in a Series B funding round led by Sorenson Capital. 

Safe Security aims to utilise generative artificial intelligence to help nontechnical leaders better understand their organisations' security postures. The funding will also be used to create a user experience that is comparable to consumer technology. 

Safe Security intends to incorporate machine learning and generative AI (artificial intelligence) into its risk management platform, making it easier for non-technical users to understand cybersecurity risks. The platform will be able to answer questions in plain English about key security areas of concern and how an organisation's security posture compares to its peers.

Safe Security relies on API signals from about 50 cybersecurity vendors to determine an organisation's real-time security posture and what actions they should take to improve its protection. By adding more integrations in the operational technology space, such as Claroty or Nozomi Networks, Safe Security will be better positioned to help to manufacturing firms with risk quantification. 

The company primarily serves customers in the financial services, retail, healthcare and service provider space, with between $ 1 billion and $ 10 billion of annual sales. A typical client spends $125,000 with Safe Security each year, according to CEO (chief executive officer) Saket Modi.

  • Related Articles

    The company had for the first time reduced subscription prices in the range of 20-60 per cent to suit the Indian market and deepen its penetration

    Netflix Slashes Subscription Rates In 116 Countries Following Success In India

    Verlinvest will build Ferty9 as a platform and acquire fertility clinics across major cities in India, with a commitment of $50 million

    Verlinvest Acquires Controlling Stake In Fertility Chain Ferty9 Fertility Center

    Neobrands will reportedly be a house of brands across multiple fashion categories, including everyday fashion, denim, athleisure and performance wear categories

    RattanIndia Enters Fashion Brands Business With Neobrands