Published On: Thu, Jul 22nd, 2021

Cyber risk startup Safe Security lands $33M from UK telco BT

Safe Security, a Silicon Valley cyber risk government startup, has cumulative a $33 million investment from U.K. telco BT. 

Founded in 2012, Safe Security — before famous as Lucideus — helps organizations magnitude and lessen enterprise-wide cyber risk regulating a confidence comment horizon for enterprises (SAFE) platform. The service, that is used by a series of companies, including Facebook, Softbank and Xiaomi, helps businesses know their odds of pang a vital cyberattack, calculates a financial cost to customers’ risks and provides actionable discernment on a stairs that can be taken to residence them.

This appropriation turn saw appearance from Safe Security’s existent investors, including former Cisco authority and arch executive John Chambers, and brings a sum volume lifted by Safe Security to $49.2 million.

BT pronounced a investment, that is a initial vital third-party investment in cybersecurity given 2006, reflected a skeleton to grow fast in a sector. Philip Jansen, BT CEO said: “Cybersecurity is now during a tip of a bulletin for businesses and governments, who need to be means to trust that they’re stable opposite augmenting levels of attack. 

“Already one of a world’s heading providers in a rarely fragmented confidence market, this investment is a transparent pointer of BT’s aspiration to grow further.”

To ensure opposite information detriment and misuse, a cybersecurity review contingency evolve

The startup’s co-founder and arch executive Saket Modi pronounced he was “delighted” to be operative with BT.

“By aligning BT’s tellurian strech and capabilities with SAFE’s ability to yield real-time prominence on cyber risk posture, we are going to essentially change how confidence is totalled and managed opposite a globe,” he said.

As partial of a investment, that will see Safe Security double a engineering group by a finish of a year, BT will mix a SAFE height with a managed confidence services, and benefit disdainful rights to use and sell SAFE to businesses and open zone bodies in a U.K. BT will also work collaboratively with Safe Security to rise destiny products, according to an proclamation from a company.

Safe Security’s competitors embody UpGuard, Exabeam and VisibleRisk.

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