Saket Modi's SAFE Security raises $70 million in funding to build CyberAGI

SAFE, a cybersecurity firm led by Sakit Modi that claims to be the first to deliver fully autonomous Third-Party Risk Management (TPRM), has raised $70 million in a Series C funding round led by Avataar Ventures, with participation from Susquehanna Asia Venture Capital, NextEquity Partners and Prosperity7 Ventures.

The round also saw participation from existing investors, including Eight Roads, John Chambers, and Sorenson Capital, among others. 

The startup said it plans to use the new funding to expand its presence in the cyber risk management market and advance the development of Agentic AI-native reasoning models aimed at achieving CyberAGI.

SAFE also announced what it described as a major upgrade to its Cyber Risk Singularity platform, introducing what it calls the world’s first fully autonomous Continuous Threat Exposure Management (CTEM) solution powered by Agentic AI.

“This is a defining moment in our pursuit of CyberAGI,” said Saket Modi, Co-Founder and CEO of SAFE. “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,” Modi added. 

“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,” said Nishant Rao, Founding Partner at Avataar Ventures.

“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.” 

SAFE counts Google, Fidelity, T-Mobile, Chevron, and IHG among its customers. With this round, total funding exceeds $170 million. Its Cyber Risk Singularity Platform delivers Autonomous Cyber Risk Management across CRQ, CTEM, and TPRM.