Horizon3.ai, a cybersecurity startup known for its autonomous penetration testing and threat-detection tools, is raising $100 million in a new funding round. According to an SEC filing released this week, the company has already secured at least $73 million toward that goal.
Sources familiar with the deal confirmed that NEA is leading this investment round, representing NEA’s second substantial cybersecurity funding in less than a month after recently leading a $108 million round for Veza. While Horizon3.ai’s current valuation is believed to surpass $750 million, it remains unclear whether this figure refers to a pre- or post-money valuation. Another source suggested that Horizon3.ai has either fully closed or intends to close the entire $100 million fundraising. Additionally, the startup reportedly generates annual recurring revenues around $30 million. Neither NEA nor Horizon3.ai have commented publicly regarding specific transaction details.
The San Francisco-based cybersecurity firm was co-founded in 2019 by former U.S. Special Operations cyber operators, experienced entrepreneurs, and cybersecurity specialists. CEO Snehal Antani, who previously acted as the CTO at Splunk and worked with the U.S. Military’s Joint Special Operations Command, headed the original founding group.
Horizon3.ai last raised substantial funding in August 2023, securing $40 million in a Series C led by Craft Ventures and supported by SignalFire, bringing total investments at that point to approximately $78.5 million. At the time of the last round, the funds were earmarked primarily to expand R&D initiatives, grow the engineering team, and drive channels.
Earlier this month, Horizon3.ai earned FedRAMP authorization, enabling it to provide its cybersecurity products to U.S. federal agencies. Additionally, the company revealed a robust performance in February, detailing a year-over-year revenue increase of 101% and exceeding its fourth quarter sales pipeline target by over 150%.
With growing adoption of AI-generated methods in cyber threats, Horizon3.ai’s automated defense platform solutions have gained notable momentum. The company aims to mitigate increasingly prevalent and automated cybersecurity risks through leveraging sophisticated artificial intelligence and advanced testing processes.
