Funding · Enterprise Software & IT

Safe Security raises $70 Mn in Series C

What they do

Safe Security provides AI-driven real-time cyber risk management solutions to enterprises

It raised $70 Mn in Series C led by Avataar Venture Partners, with participation from Susquehanna Asia Venture Capital and others

The company plans to use the capital to develop Cyber AGI, an automated cybersecurity system

Safe Security raised $70 Mn (INR 609.63 Cr) in a Series C funding round.
The round was led by Avataar Venture Partners.
Participants included Susquehanna Asia Venture Capital, NextEquity Partners, and Prosperity7 Ventures.
Existing backers Eight Roads, John Chambers, and Sorenson Capital also participated.
The company will use a major portion of the capital for product development and building Cyber AGI.
Cyber AGI aims to integrate theoretical AGI (artificial general intelligence) into cybersecurity, making tasks intelligent and automated.
This funding comes amid AI amplifying cybercriminal capabilities, driving enterprise demand for next-gen cybersecurity tools.

The funding round reflects growing enterprise demand for advanced cybersecurity solutions as AI-powered threats increase.
Online gaming is a fast-growing client segment for cybersecurity, and Safe Security's work with British Telecom gives it a foothold in gaming security spend.
Other Indian cybersecurity startups also raised funds recently: CloudSEK ($19 Mn), QNu Labs (INR 60 Cr), Protectt.ai (INR 76 Cr), and Astra Security ($2.7 Mn).

Safe Security was founded in 2012 and is IIT Bombay-incubated.
It offers AI-driven real-time cyber risk management solutions.
It provides an aggregated view of enterprise cyber risk across attack surface, technology, people, and third parties.
The company is headquartered in California.
It serves over 200 enterprises worldwide, including Fortune 500 companies.
Clients include Google, Meta, Netflix, Chevron, Victoria's Secret, and British Telecom.
It has nearly 200 employees; half are in India (engineering teams in Delhi NCR and Bengaluru), and the rest are in the US (sales and customer success).
Total raised to date is over $170 Mn.
Marquee investors include Telstra Ventures, WTI, and BT Group.

Use a major portion of the capital for product development.
Build Cyber AGI, which aims to integrate theoretical AGI into cybersecurity for intelligent and automated tasks.

Avataar Venture Partners (lead) — Lead investor in the Series C round.
Susquehanna Asia Venture Capital (participant) — Participated in the Series C round.
NextEquity Partners (participant) — Participated in the Series C round.
Prosperity7 Ventures (participant) — Participated in the Series C round.
Eight Roads (existing) — Existing backer that participated in the round.
John Chambers (existing) — Existing backer that participated in the round.
Sorenson Capital (existing) — Existing backer that participated in the round.
Telstra Ventures (existing) — Marquee investor in the company.
WTI (existing) — Marquee investor in the company.
BT Group (existing) — Marquee investor in the company.