Cybersecurity startup Horizon3.ai secures $100 million in fresh funding to scale its AI-driven threat detection and red-teaming platform
In an SEC filing this week, Horizon3.ai, a cybersecurity startup that offers tools such as autonomous penetration testing, disclosed that it is currently raising $100 million in a new funding round and has secured at least $73 million.
The round was led by NEA, according to two individuals familiar with the agreement. According to one individual, the startup is estimated to be worth more than $750 million; however, TechCrunch could not confirm whether this valuation is pre- or post-money.
Another individual thinks that the company has sold the entire $100 million or will do so in the future.
They also stated that the company generates approximately $30 million in annual recurring revenue. Horizon and NEA declined to respond to TechCrunch’s inquiries for comment.
Horizon3.ai is NEA’s second significant cybersecurity startup investment in less than a month, following Veza’s $108 million funding round at a $800 million valuation announced in April.
Horizon3.ai secured $40 million in a Series C round in August 2023, which was led by Craft Ventures and included SignalFire.
The startup’s total fundraising, which reached $78.5 million, was intended to expand its R&D, channel presence, and team of engineers, according to co-founder and CEO Snehal Antani, as reported by TechCrunch at the time.
Horizon3.ai was established in 2019 by cybersecurity specialists, entrepreneurs, and former U.S. Special Operations cyber operators.
Antani led teams within the U.S. Military’s Joint Special Operations Command and was CTO at Splunk before launching the venture.
AI-powered automated assaults are also on the rise as all things AI are deployed across the tech world.
Horizon3.ai, a San Francisco-based startup, employs autonomous threat detection tools to safeguard against such assaults.
Horizon3.ai was granted FedRAMP authorization earlier this month, which permits it to market its products to federal agencies.
In February, it also disclosed that it had achieved a 101% year-over-year increase in revenue, surpassing 150% of its Q4 pipeline targets, without providing specific figures.