Horizon3.ai, a San Francisco-based cybersecurity startup specializing in autonomous penetration testing and threat detection tools, is raising a substantial $100 million in a new funding round. While the company has already secured at least $73 million, it aims to raise the full amount. This follows a successful Series C round of $40 million in August 2023. The funding will further bolster Horizon3.ai's capabilities in combating the growing threat of AI-powered cyberattacks.
The lead investor in this round is NEA, a prominent venture capital firm. While the exact post-money valuation remains unconfirmed, sources suggest it could be upwards of $750 million. This investment marks NEA's second significant cybersecurity investment in a short period, highlighting the growing importance of this sector.
Horizon3.ai's technology is particularly relevant in today's landscape, where AI is increasingly used for both defensive and offensive cybersecurity purposes. The company's team comprises experts from various backgrounds, including former U.S. Special Operations cyber operators and seasoned cybersecurity professionals. Their recent FedRAMP authorization further expands their market reach to include federal agencies.
The new funding will likely be used to continue expanding Horizon3.ai's research and development efforts, enhance its market presence, and grow its engineering team. The company has already demonstrated impressive growth, reporting over 100% year-on-year revenue growth earlier this year and generating approximately $30 million in annual recurring revenue.
