Horizon3.ai, a cybersecurity startup known for its autonomous penetration testing tools, is in the process of raising $100 million in a new funding round and has already secured at least $73 million, according to a recent SEC filing.
The round is being led by NEA, as confirmed by two individuals familiar with the matter. One source estimated the company’s valuation at over $750 million, although it remains unclear whether this figure is pre- or post-money. Another source stated that the company has either completed or is about to complete the full $100 million raise and generates approximately $30 million in annual recurring revenue.
With this deal, Horizon3.ai marks NEA’s second significant investment in a cybersecurity startup within a month, following Veza’s $108 million funding round announced in April at an $800 million valuation.
Back in August 2023, Horizon3.ai secured $40 million in a Series C round led by Craft Ventures, with participation from SignalFire. That funding raised the company’s total capital to $78.5 million and aimed to expand its R&D efforts, strengthen channel partnerships, and grow its engineering team, according to co-founder and CEO Snehal Antani.
A team of former U.S. Special Operations cyber operators, entrepreneurs, and cybersecurity experts founded Horizon3.ai in 2019. Prior to co-founding the company, CEO Snehal Antani served as CTO at Splunk and led cyber teams within the U.S. Military’s Joint Special Operations Command.
As AI-powered attacks become increasingly sophisticated and widespread, the San Francisco-based startup offers autonomous threat detection tools designed to help organizations defend against these emerging threats.
In a significant milestone, Horizon3.ai received FedRAMP authorization earlier this month, allowing it to sell its cybersecurity solutions to U.S. federal agencies. Additionally, in February, the company reported 101% year-over-year revenue growth and surpassed 150% of its Q4 pipeline goals, although it did not disclose specific figures.
Horizon3.ai’s latest funding round underscores growing investor confidence in AI-driven cybersecurity solutions, as threats continue to evolve in complexity and scale. With strong backing from major firms like NEA, rapid revenue growth, and recent FedRAMP authorization, Horizon3.ai is well-positioned to expand its footprint in both commercial and government sectors. Its unique foundation—built by cybersecurity veterans and ex-military operatives—gives it a strategic edge in tackling today’s most advanced cyber threats.
