Horizon3.ai Raises $100 Million in Funding Round
Horizon3.ai, a cybersecurity startup known for its autonomous penetration testing tools, is in the process of securing $100 million in a new funding round. The company has already locked down $73 million, as disclosed in a recent SEC filing.
Leading the funding round is NEA, according to sources familiar with the deal. The startup is rumored to be valued at over $750 million, although the exact valuation (pre- or post-money) remains unconfirmed. Horizon and NEA have not responded to requests for comment on the matter.
This investment marks NEA’s second notable cybersecurity startup funding within a month, following Veza’s $108 million funding round at an $800 million valuation announced in April.
In August 2023, Horizon3.ai raised $40 million in a Series C round led by Craft Ventures, with participation from SignalFire. The funding was earmarked for expanding the company’s research and development, increasing its channel presence, and growing its engineering team.
Founded in 2019, Horizon3.ai is composed of a team of former U.S. Special Operations cyber operators, entrepreneurs, and cybersecurity experts. CEO Snehal Antani, a former CTO at Splunk, previously led teams within the U.S. Military’s Joint Special Operations Command.
As AI-powered automated attacks continue to rise, Horizon3.ai, based in San Francisco, offers autonomous threat detection tools to combat such threats effectively.
Recently, Horizon3.ai obtained FedRAMP authorization, allowing it to cater to federal agencies. The company also reported a 101% year-on-year revenue growth in February and surpassed 150% of its Q4 pipeline targets, showcasing strong performance metrics.
