Security startup Horizon3.ai is raising $100M in new round

Horizon3.ai, a cybersecurity startup that provides tools like autonomous penetration testing, is seeking to raise $100 million in a new funding round and has locked down at least $73 million, the company revealed in an SEC filing this week. NEA led the round, according to two people familiar with the deal. One person said that the startup is believed to be valued upward of $750 million, although TechCrunch couldn’t verify whether that valuation is pre- or post-money. Another person believes the company did (or will) sell the whole $100 million, and added that the company is generating about $30 million in annual recurring revenue. Neither Horizon, nor NEA responded to TechCrunch’s requests for comment. With this deal, Horizon3.ai becomes NEA’s second major cybersecurity startup investment in less than 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 Ve ... Read full article.