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Cyber ​​risk startup Safe Security raises $33 million from UK telco BT – TechCrunch

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Silicon Valley-based cyber risk management startup Safe Security has secured a $33 million investment from UK telecommunications BT.

Founded in 2012 and formerly known as Lucideus, Safe Security helps businesses measure and mitigate enterprise-wide cyber risk using the Security Assessment Framework (SAFE) platform. Used by several companies including Facebook, Softbank, Xiaomi and more, the service provides businesses with actionable insights into understanding the likelihood of major cyber attacks, calculating the financial cost of customer risk and actions they can take to address them. . them.

This funding round was attended by existing investors in Safe Security, including former Cisco Chairman and CEO John Chambers, and has raised a total of $49.2 million by Safe Security.

BT said the investment, the first major third-party investment in cybersecurity since 2006, reflects its plans to grow rapidly in the space. BT CEO Philip Jansen said: Cybersecurity is now a top priority for businesses and governments. You need to be confident that you are protected from increasing levels of attack.

Already one of the world’s leading providers in a highly segmented security market, this investment is a clear sign of BT’s ambition to grow further.

The startup’s co-founder and CEO, Saket Modi, said he was “excited” to work with BT.

By aligning BT’s global reach and capabilities with SAFE capabilities that provide real-time visibility into the state of cyber risk, we will fundamentally change the way we measure and manage security around the world,” he said.

As part of Safe Security’s investment in doubling its engineering team by the end of this year, BT will gain exclusive rights to combine its SAFE platform with managed security services, use SAFE, and sell SAFE to businesses and public sector entities in the following regions: It’s possible. UK BT will also work with Safe Security to develop future products, according to the company’s announcement.

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

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