AI-based cyber risk management SaaS platforms provider Safe Security has announced the close of a $50 million Series B round led by Sorenson Capital, with participation from Telstra Ventures, Eight Roads, venture capital arm of Fidelity Investments WTI, and all existing investors.
The round brings the company’s total funding to over $100 million and Safe Security says that with the current macroeconomic climate, cybersecurity teams are re-evaluating their cybersecurity investments, which are flush with point solutions that do not provide holistic cyber risk visibility and points of attack exposure.
“Alongside this financial pressure, external cyber regulation and guidelines stemming from the White House and regulatory bodies, like the SEC and the National Cyber Strategy, are forcing organisations across every industry to rethink their cyber risk management strategies.
“Legacy solutions are ill equipped to respond to these new requirements for real time, data-driven cyber risk management. These legacy solutions require organisations to manage multiple spreadsheets and aggregate results, which are highly manual and subjective. They simply do not work. A new…
