**Safe Security Secures $170 Million in Funding to Enhance Cybersecurity Products**
Safe Security, co-founded by Saket Modi, has successfully raised new funding aimed solely at advancing its product offerings. In a recent interview, Modi emphasized the company’s commitment to “product, product, and product.” This funding round attracted both new and existing investors, including Susquehanna Asia Venture Capital, NextEquity Partners, and Prosperity7 Ventures, while established backers like Eight Roads, John Chambers, and Sorenson Capital also increased their investments. Notably, this round consisted entirely of primary investments, meaning the funds went directly to the startup without any existing shareholders selling their stakes.
With this latest funding, Safe Security’s total capital raised has reached $170 million. Although the current valuation remains undisclosed, Modi indicated that it has “more than doubled” since their previous $50 million Series B round in 2023.
Founded in 2012 at IIT Bombay, Safe Security initially focused on cyber risk quantification, which continues to generate about two-thirds of its revenue. The company recently introduced a new module for autonomous third-party risk management, launched in mid-2023. Modi anticipates that revenue from both the original and new modules will soon be nearly equal, with plans for a third module focused on agentic artificial intelligence for continuous threat exposure management (CTEM) set to launch soon.
Modi stated that the company will prioritize this new module over the next year, aiming to lead the market with its innovations. Currently, 90% of Safe Security’s revenue comes from clients in the US, UK, and Australia, and the company plans to invest further in these markets.
Looking ahead, Safe Security aims to go public within the next three to four years, with Modi noting that they will evaluate whether to list in India or New York as they approach that milestone. Originally established as a services company named Lucideus, the firm rebranded in 2018 to focus on product development, now serving Fortune 2000 companies with average deal sizes around $175,000. Notable clients include T-Mobile, SAP, Dell, Chipotle, Canva, Chevron, HP, Google, Netflix, and British Telecom.
**FAQ**
**What is Safe Security’s primary focus following its recent funding?**
Safe Security is concentrating on enhancing its product offerings, particularly through the development of new modules for cyber risk management and threat exposure management.
