Cybersecurity startup SAFE has completed a $70 million Series C funding round, bringing its total capital raised to over $170 million since its 2020 founding. The round positions the AI-powered cyber risk management company to expand its autonomous security solutions across enterprise markets.
Avataar Ventures led the investment, joined by Susquehanna Asia Venture Capital, NextEquity Partners, and Prosperity7 Ventures. Previous backers Eight Roads, John Chambers, and Sorenson Capital also participated in the round.
Expanding Beyond Risk Quantification
SAFE built its reputation in cyber risk quantification (CRQ), establishing itself as a category leader since launching its platform four years ago. The company has since expanded into autonomous third-party risk management (TPRM) and now introduces what it calls the world’s first fully autonomous continuous threat exposure management (CTEM) solution.
The three-pronged approach reflects SAFE’s strategy of applying what it terms “Agentic AI” across different cybersecurity domains. Each solution operates with minimal human intervention, automating processes that traditionally require extensive manual oversight.
Enterprise Client Base Drives Growth
SAFE’s client portfolio includes major corporations such as Google, Fidelity, T-Mobile, Chevron, and IHG. These enterprise relationships provide the company with substantial recurring revenue streams and validate its technology across diverse industry verticals.
The platform’s ability to quantify cyber risk in financial terms appeals to executives who need concrete metrics for board reporting and insurance purposes. This capability differentiates SAFE from traditional cybersecurity vendors that focus primarily on threat detection and prevention.
Pursuing “CyberAGI” Vision
CEO and co-founder Saket Modi outlined the company’s ambitious roadmap, stating: “This is a defining moment in our pursuit of CyberAGI“ The term references artificial general intelligence applied specifically to cybersecurity challenges.
Modi emphasized the company’s methodical market approach: “When we launched our platform in 2020, we carefully selected a market that would be the foundation of cyber risk management – Cyber Risk Quantification (CRQ). Not only did we shape the category, we’ve become its undisputed leader“
The CEO highlighted the company’s expansion strategy: “In 2023, we brought the same disruptive mindset to Third-Party Risk Management (TPRM) with Agentic AI, and today we’re fast emerging as the clear frontrunner“
Market Timing and Competitive Landscape
The funding comes as organizations face increasing pressure to demonstrate measurable cybersecurity outcomes. Regulatory requirements and insurance mandates now require many companies to quantify their cyber risk exposure using standardized methodologies.
SAFE’s autonomous approach addresses the cybersecurity talent shortage by reducing the need for specialized personnel to manage routine risk assessment tasks. The platform’s AI capabilities handle continuous monitoring and analysis that would otherwise require dedicated security teams.
Strategic Investment Implications
The Series C funding enables SAFE to accelerate product development across its three core offerings while expanding its sales and marketing operations. The company plans to leverage the capital to enhance its CTEM solution and strengthen its market presence in the enterprise segment.
Avataar Ventures’ leadership of the round signals confidence in SAFE’s technology differentiation and market opportunity. The investor’s backing provides SAFE with strategic guidance as it scales its operations and explores potential partnerships or acquisition opportunities.
Modi concluded by connecting the new CTEM launch to the company’s broader vision: “Each of these domains are critical building blocks in our singular pursuit: achieving CyberAGI“ This statement suggests SAFE views its current products as components of a larger autonomous cybersecurity platform.