Cybersecurity firm Horizon3 crosses $2 billion valuation in new funding round

Aug 3 (Reuters) - Cybersecurity company ‌Horizon3 said ​on ​Monday it has raised $250 million in its latest funding round, more than tripling its valuation to ‌over $2 billion in just about a year.

The round ⁠comes amid growing demand for cybersecurity tools as hackers increasingly tap AI ‌technology to exploit software ‌vulnerabilities and launch more sophisticated attacks.

• Investment firms NightDragon and NEA co-led the round, with new investors including Acrew ​Capital, Blue Cloud Ventures and Demeter Group.

• Returning investors included Craft Ventures, Prosperity7 Ventures, Qualcomm Ventures, Ridge Ventures ⁠and SignalFire. Horizon3 had been valued at $650 million in its Series D round ​in June last year.

• Horizon3's NodeZero platform autonomously tests production environments for exploitable attack paths, provides ​remediation guidance and verifies fixes, the ‌company said.

• Horizon3 will use the proceeds from the latest fundraise to expand sales, marketing ⁠and channel operations, enter Singapore and Australia, deepen its presence in Europe, the Middle East and Africa, and accelerate product development.

• ⁠The company said it plans to build a continuous learning loop ​between AI systems that simulate attacks and AI tools that defend against them, including automated defensive agents that can fix issues identified by ‌NodeZero penetration tests, which simulate real-world hacking attempts.

• Horizon3 has gathered data from 310,000 tests ‌safely conducted on live systems, CEO and co-founder Snehal Antani ⁠said.

• NightDragon's founder and ‌CEO Dave DeWalt and ​Managing Director Morgan Kyauk will join Horizon3's board.

(Reporting by Prathik Jayaprakash in Bengaluru; Editing by Jonathan ‌Ananda)

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