Safe Security (previously known as Lucideus), a cybersecurity startup, has raised $70 million in its Series C funding round led by Avataar Ventures.
The round also saw participation from Susquehanna Asia Venture Capital, NextEquity Partners, Prosperity7 Ventures, and existing investors including Eight Roads, John Chambers and Sorenson Capital, among others.
The funds raised will be used to build Agentic AI-native reasoning models to move closer to SAFE’s mission to achieve CyberAGI.
With this round, total funding exceeds $170 million.
Founded in 2012 by Saket Modi, Viditkumar Baxi, and Rahul Tyagi, Safe Security is a cybersecurity company that provides solutions for cyber risk quantification and management.
The company’s core mission is to empower organizations to understand and manage cyber risks by providing them with a real-time, data-driven approach. Their platform, SAFE One, integrates with existing IT infrastructure and security tools to provide a unified view of cyber risk, helping businesses prioritize security investments based on potential impact.
Its Cyber Risk Singularity Platform delivers Autonomous Cyber Risk Management across CRQ, CTEM, and TPRM.
SAFE counts Google, Fidelity, T-Mobile, Chevron, and IHG among its customers.
Saket Modi, Co-Founder and CEO of SAFE, said, “This is a defining moment in our pursuit of CyberAGI. When we launched our platform in 2020, we carefully selected a market that would be the foundation of cyber risk management – Cyber Risk Quantification (CRQ). Not only did we shape the category, we’ve become its undisputed leader. In 2023, we brought the same disruptive mindset to Third-Party Risk Management (TPRM) with Agentic AI, and today we’re fast emerging as the clear frontrunner. Now, we’re applying that same Agentic AI-first approach to our next frontier: Continuous Threat Exposure Management (CTEM). Each of these domains are critical building blocks in our singular pursuit: achieving CyberAGI.”
Nishant Rao, Founding Partner at Avataar Ventures, said, “Our investment philosophy is rooted in deep conviction around transformative market shifts—and few are as compelling as the opportunity in cybersecurity, especially in the age of AI. Most cybersecurity sub-sectors we’ve evaluated are either overcrowded or limited to tactical, widget-like solutions. But cybersecurity today is a boardroom and CEO-level priority, and that’s not changing anytime soon. What makes SAFE stand out is its positioning – not as another detection tool, but as a strategic intelligence layer across the entire cybersecurity stack. Combine that with a stellar execution track record and consistent 120%+ YoY growth since their launch in 2020, partnering with Saket and his team was an easy decision.”
