Cybersecurity Startup Safe Security Raises $33M Funding From British Telecom, John Chambers
- ByStartupStory | July 21, 2021
Cybersecurity startup Safe Security has raised $33 million in a funding round led by London-based British Telecom (BT). Its existing investors, including former Chairman and CEO of Cisco Systems John Chambers, also participated in the round. With this capital infusion, Safe Security’s total funding reaches to $50 million. Saket says the startup can be now dubbed as a “soonicorn.” This investment will enable BT to combine the SAFE platform with its managed security services to offer customers a real-time view of how safe they are against an incredibly fast-moving cyber threat landscape.
The startup is incubated at IIT Bombay, Safe Security allows organizations to take a health check of their existing defenses and understand their likelihood of suffering a major cyber-attack. Its SAFE platform enables organizations to surgically target gaps in their defenses, and already protects multiple Fortune 500 companies and governments around the world. As part of this investment, BT will be granted exclusive rights to use and sell SAFE to businesses and public sector bodies in the UK and incorporate it within its wider global portfolio. Moreover, BT will also collaborate with Safe Security to develop future products. Saket said that BT’s 3000-strong cybersecurity and Safe Security’s engineers will work together and focus on SMBs.
Philip Jansen, CEO, BT, said, “Cybersecurity is now at the top of the agenda for businesses and governments, who need to be able to trust that they are protected against increasing levels of attack. Adding SAFE to BT’s proactive, predictive security services will give customers an enhanced view of their threat level, and rapidly pinpoint specific actions needed to strengthen their defenses. Already one of the world’s leading providers in a highly fragmented security market, this investment is a clear sign of BT’s ambition to grow further.”
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