Summary:
Horizon3.ai is raising $100M in a new funding round, with NEA leading the investment at a valuation over $750M
The startup reports $30M in annual recurring revenue and recently secured FedRAMP authorization for federal agency sales
Founded by Snehal Antani, former Splunk CTO, the team includes ex-U.S. Special Operations cyber operators
Specializes in autonomous penetration testing to defend against AI-powered automated attacks
Achieved 101% YoY revenue growth, exceeding Q4 pipeline targets by 150%
Horizon3.ai's Monumental Funding Round
Horizon3.ai, a pioneering cybersecurity startup, is on the brink of securing a $100 million funding round, with $73 million already confirmed through an SEC filing. This round is spearheaded by NEA, positioning the startup at a valuation exceeding $750 million. While the exact nature of the valuation (pre- or post-money) remains unverified, the startup's annual recurring revenue is reported to be around $30 million.
Image Credits: Teera Konakan / Getty Images
A Surge in Cybersecurity Investments
This funding marks NEA's second significant cybersecurity investment in less than a month, following Veza's $108 million round at an $800 million valuation. Horizon3.ai's previous $40 million Series C in August 2023, led by Craft Ventures, was aimed at expanding its R&D, channel presence, and engineering team.
The Brains Behind the Operation
Founded in 2019 by Snehal Antani, former CTO at Splunk and a leader within the U.S. Military’s Joint Special Operations Command, Horizon3.ai boasts a team of former U.S. Special Operations cyber operators and cybersecurity experts. The startup specializes in autonomous penetration testing to combat the rising tide of AI-powered automated attacks.
Breaking New Ground
Recently, Horizon3.ai achieved FedRAMP authorization, enabling it to offer its solutions to federal agencies. The startup also celebrated a 101% year-on-year revenue growth, surpassing its Q4 pipeline targets by 150%, though specific figures were not disclosed.
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