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Safe Security

Category: AI in Cybersecurity

Safe Security provides an AI-driven platform for real-time cyber risk quantification and management, enabling organizations to understand and mitigate their financial exposure to cyber threats. Safe Security was founded in 2012. The company is led by Saket Modi. Based in Palo Alto, California, United States. Team size: 201-500. Total funding raised: Over $100 million. Latest round: Series B. Key investors include Avataar Ventures, Sorenson Capital, Fidelity Investments (F-Prime Capital), Telstra Ventures, WTI.

Founded
2012
Headquarters
Palo Alto, California, United States
Team size
201-500
Total funding
Over $100 million

Value proposition

Translates complex cyber risk data into a clear, quantifiable financial risk, enabling better decision-making, and helping to lower cyber insurance premiums.

Products and solutions

SAFE Platform, Cyber Risk Quantification (CRQ), Continuous Threat Exposure Management (CTEM), Third-Party Risk Management (TPRM), SAFE for Cyber Insurance, SAFE for M&A

Unique value

Safe Security's platform is unique in its ability to provide a real-time, 360-degree view of cyber risk across first-party, third-party, and even AI-driven systems. It quantifies this risk in monetary terms, providing a clear financial impact assessment.

Target customer

Large enterprises, including Fortune 500 companies, CISOs, CIOs, and Boards of Directors.

Industries served

Financial Services, Healthcare, Technology, Retail, Manufacturing, Critical Infrastructure

Technology advantage

The core technological advantage is its AI-powered platform that ingests signals from over 50 different security, IT, and GRC tools. It uses this data to generate a 'SAFE Score,' which predicts the likelihood of a breach and the potential financial fallout, enabling a proactive and business-focused approach to cybersecurity.

How they differentiate

Safe Security differentiates itself by offering a real-time, AI-powered platform for cyber risk quantification. Their platform, SAFE, translates technical cyber risk data into a clear financial risk exposure, enabling organizations to prioritize security initiatives based on business impact. This is in contrast to competitors who may focus more on security ratings and vulnerability assessments without the direct financial quantification.

Main competitors

UpGuard, SecurityScorecard, Bitsight

Key partnerships

Microsoft, CrowdStrike, SentinelOne, Wiz, ServiceNow, International Foundation of Electoral Systems (IFES), Defending Digital Campaigns (DDC)

Notable customers

Johnson & Johnson, News Corp, Molson Coors, DBS Bank, HDFC Bank

Major milestones

Raised over $100 million in total funding., Secured a $50 million Series B funding round in April 2023., Developed a predictive AI-driven data model for cyber risk quantification in collaboration with MIT., Expanded its customer base to include several Fortune 500 companies across various sectors., Recognized as a key player in the cyber risk quantification market by industry analysts.

Growth metrics

Specific growth metrics such as revenue or user growth are not publicly available. However, the company has reported a 200% growth in its customer base and a 300% growth in revenue in the year preceding its Series B funding.

Market positioning

Safe Security is positioned as a leader in the Cyber Risk Quantification (CRQ) market. They aim to set the industry standard for measuring, managing, and mitigating cyber risk, moving beyond traditional compliance-based approaches to a more proactive, risk-based model.

Geographic focus

Safe Security has a global presence, with a strong focus on North America and Asia. Their headquarters in Palo Alto, California, gives them a strong foothold in the US market, while their origins in India and key investors from the region indicate a significant focus on the Asian market as well.

Patents and IP

Information regarding specific patents or IP is not publicly available.

About Saket Modi

Saket Modi is the Co-Founder and CEO of Safe Security, a cybersecurity and digital business risk quantification platform. He founded the company in 2012 during his final year of studying Computer Science Engineering at the LNM Institute of Information Technology. He is a respected figure in the cybersecurity community, recognized on Forbes' '30 Under 30' Asia list and as a Fortune '40 Under 40' entrepreneur.

Official website: