Cybersecurity Startup Horizon3.ai Seeks $100M at $750M Valuation
Horizon3.ai is raising a $100 million funding round led by NEA to expand its autonomous penetration testing tools. The startup reportedly generates $30 million in annual recurring revenue and recently earns FedRAMP authorization.
Horizon3.ai is actively raising $100 million in a new funding round and secures at least $73 million so far, according to a recent SEC filing. Venture capital firm NEA leads the round, and sources report the cybersecurity startup reaches a valuation upward of $750 million. The company reportedly generates about $30 million in annual recurring revenue as demand for advanced threat detection grows.
The San Francisco-based startup provides autonomous penetration testing tools designed to combat the rise of AI-powered cyberattacks. Founded in 2019 by former U.S. Special Operations cyber operators, Horizon3.ai continues to expand its market reach. Earlier this month, the company earns FedRAMP authorization, which allows it to sell its security platform directly to federal agencies.
This new investment marks NEA’s second major cybersecurity deal in less than a month following Veza’s $108 million raise. Horizon3.ai previously raised $40 million in a Series C round in August 2023 to boost its research and development efforts. The company also reports an impressive 101% year-over-year revenue growth earlier this year, exceeding its fourth-quarter pipeline targets.