Secure Raises $70M Collection C to Scale Cyber Danger Administration

A cyber danger administration vendor backed by ex-Cisco CEO John Chambers raised $70 million to autonomously predict, detect and block threats earlier than they materialize.

See Additionally: AI Brokers Demand Scalable Identification Safety Frameworks

Silicon Valley-based Secure plans to make use of the Collection C funding to assist develop “cyber AGI” by increasing its agentic AI capabilities and integrating with exterior cybersecurity platforms, stated co-founder and CEO Saket Modi. He stated Secure has established a powerful foothold in Cyber Danger Quantification, is gaining quick floor in third-party danger administration and launched into steady menace publicity administration.

“Think about an especially autonomous system of intelligence, which may predict, detect and mechanically block a hack earlier than it’s efficiently executed,” Modi informed Info Safety Media Group. “That is the last word promise of cybersecurity. This must be a layer of intelligence on high of CrowdStrike and Palo Alto Networks and Zscaler.”

Modi based the corporate in 2012 throughout his remaining 12 months of engineering college in India, hauled in $5 million of Collection A funding from Chambers in 2017 and adjusted the corporate’s title from Lucideus to Secure in February 2021. The corporate closed a $50 million Collection B spherical led by Sorensen Capital in April 2023, and Secure’s most up-to-date funding spherical was led by Avataar Ventures (see: Secure, Axio, KPMG Dominate Cyber Danger Quantification Rankings).

Why Cyber AGI Is Secure’s North Star

A lot of the new capital shall be invested within the platform itself, with a heavy concentrate on AI/ML innovation, proprietary mannequin improvement and expanded use of cyber insurance coverage claims knowledge for danger modeling, Modi stated. In contrast to startups that allocate a disproportionate share of funding to gross sales and advertising and marketing, SAFE is intentionally channeling the majority of its capital into R&D to assist keep product superiority, he stated.

“Over the previous two years, our income has gone up nearly 6X, so we’re doing rather well. So due to this fact, now’s the time to place gasoline on hearth,” he stated. “We’re clearly primary in CRQ. We’re quick changing into primary in TPM. And yesterday, we additionally introduced steady menace publicity administration. So now our platform, which is one platform of autonomous cyber danger administration, has three modules.”

Secure’s CRQ is concentrated on strategic, board-level cybersecurity decision-making and is utilized by main enterprises to quantify enterprise danger in greenback phrases. TPRM handles the complete vendor danger life cycle from discovery to danger evaluation to motion utilizing autonomous workflows. And CTEM prioritizes vulnerabilities based mostly on precise enterprise danger utilizing the identical rules that drive its CRQ engine, Modi stated.

“So CTEM is bottom-up, CRQ is top-down, whereas third-party is all about your ecosystem,” Modi stated. “So, if you consider it, all the three superbly are synergistic to one another. This was one thing that our prospects requested us, so due to this fact, we created that.”

Modi’s cyber AGI depends on contextual consciousness, risk-based intelligence and machine-to-machine automation by Secure’s agentic AI structure, already comprising 50 AI brokers. Cyber AGI is not about changing present safety instruments like EDRs or firewalls. As a substitute, it can function an clever decision-making layer on high of instruments, ingesting their indicators and outputting autonomous, risk-prioritized actions.

“If AGI comes, all people on the planet desires that as a result of it actually makes your life higher,” Modi stated. “Cyber AGI will really defend you, proactively, predictively, with out worrying a couple of hack. That’s the place the place we’re going towards. We expect that is the boldest imaginative and prescient {that a} cybersecurity firm has ever taken in historical past.”

How Secure Plans to Pursue Cyber AGI

Secure won’t try to construct its personal endpoint or detection options in pursuit of cyber AGI, and can as an alternative combine telemetry from present best-of-breed instruments and translate them into autonomous, clever actions based mostly on contextual danger, Modi stated. Secure will function the horizontal intelligence layer, translating disparate indicators into coherent, risk-prioritized choices throughout the enterprise, Modi stated.

“We need not compete with the CrowdStrike’s or the Palo Alto Networks’ or the Zscaler’s of the world,” Modi stated. “We might reasonably combine with them. And we shall be all about layer of intelligence on high to say, ‘How are you going to motion based mostly on danger, and try this in an autonomous method?’ That’s what cyber AGI shall be all about.”

Secure hasn’t misplaced a CRQ deal in two years besides when finances constraints made rivals extra interesting within the short-term, Modi stated. In TPRM, Secure has gone past legacy gamers reminiscent of BitSight and more and more encounters workflow-driven distributors together with OneTrust and ProcessUnity. CTEM continues to be new for SAFE, however Modi expects to face off towards firms the likes of Qualys, Tenable, Avalor (a part of Zscaler) and Zafran.

“That is a model new tackle CTEM. We do not know a single product which is even 10% as automated as we constructed it,” Modi stated. “We did the identical with TPRM. That is why prospects love us. So, yeah, that is basically totally different.”

Secure maintains a magic quantity above 0.7 (which measures the effectivity of gross sales and advertising and marketing spend), boasts gross margins above 85% and web retention over 120%, which mirror a wholesome mixture of recent development and deep product stickiness. Whereas Secure is just not presently worthwhile, Modi stated the corporate is on observe to proceed doubling its income yearly.

“We’re very, very wholesome on the subject of our metrics,” Modi stated. Funding is on the market within the present market, he stated, “that is why for us, placing this spherical collectively was not very tough. We spent just a few months and we have been in a position to put collectively $70 million.”