Horizon3.ai, a cybersecurity startup that gives instruments like autonomous penetration testing, is in search of to boost $100 million in a brand new funding spherical and has locked down not less than $73 million, the corporate revealed in an SEC submitting this week.
NEA led the spherical, in keeping with two individuals accustomed to the deal. One particular person mentioned that the startup is believed to be valued upward of $750 million, though TechCrunch couldn’t confirm whether or not that valuation is pre- or post-money. Another particular person believes the corporate did (or will) promote the entire $100 million, and added that the corporate is producing about $30 million in annual recurring income. Neither Horizon, nor NEA responded to TechCrunch’s requests for remark.
With this deal, Horizon3.ai turns into NEA’s second main cybersecurity startup funding in lower than a month, following Veza’s $108 million funding spherical at an $800 million valuation introduced in April.
In August 2023, Horizon3.ai raised $40 million in a Series C spherical led by Craft Ventures with participation from SignalFire. That spherical introduced the startup’s complete fundraising to $78.5 million and was aimed to broaden its R&D, channel presence, and staff of engineers, co-founder CEO Snehal Antani instructed TechCrunch on the time.
Founded in 2019, Horizon3.ai includes a staff of former U.S. Special Operations cyber operators, entrepreneurs, and cybersecurity consultants. Before launching the startup, Antani served as CTO at Splunk and led groups inside the U.S. Military’s Joint Special Operations Command.
With all issues AI being deployed throughout the tech world, AI-powered automated assaults are additionally on the rise. The San Francisco-based startup Horizon3.ai helps defend in opposition to such assaults with its autonomous risk detection instruments.
Earlier this month, Horizon3.ai obtained FedRAMP authorization, enabling it to promote its wares to federal businesses. It additionally introduced in February that it noticed 101% year-on-year income progress and exceeding 150% of its This fall pipeline targets, with out sharing particular numbers.
