Palo Alto, California headquartered cybersecurity startup Lucideus on Friday announced that it has rebranded itself as Safe Security.
Its AI and machine learning-powered SAFE (Security Assessment Framework for Enterprises) platform has helped the company grow 250% in the past year alone, a statement said.
“We began as a cybersecurity services company with customer-centricity at our core. However, we realised that with services alone, our customers were still unable to answer critical cybersecurity questions about their organisations,” Saket Modi, co-founder and CEO of Safe Security said.
“With cyber risk on the rise for consumers and enterprises alike, Safe Security represents our unified brand approach to helping businesses and consumers measure and mitigate cyber risk in real-time,” he said.
Incubated at IIT Bombay, Safe Security has raised $14 million across multiple funding rounds till date. It is backed by John Chambers, former executive chairman and CEO of Cisco Systems; as well as senior executives from SoftBank, Sequoia, PayPal, Adobe and McKinsey.
Safe Security claims to have over 200 customers worldwide. Its SAFE Platform uses an AI and machine learning-based proprietary scoring system that aggregates automated signals in key vectors of risks across people, process and technology.
“I’ve always believed that cybersecurity should be on every CEO’s priority list, and after 2020, I can confidently say that it will always be in the top three. From nation-state attacks to corporate espionage to an uptick in traditional phishing scams during the Covid-19 pandemic, it is clear that threat actors are getting smarter in their attacks – which means the world needs even more advanced solutions to keep them at bay,” Chambers said.
“I’m bullish about the market opportunity for Safe Security – formerly Lucideus – because businesses will grow or fail based on their approach to cyber risk quantification,” he said.
In December 2020, Safe Security launched a tool, dubbed SAFE Me, to help users assess personal cybersecurity risks.