• San Francisco-based cybersecurity firm Horizon3.ai is raising $100 million in a new funding round, with $73 million already secured.
  • Horizon3.ai secured FedRAMP authorization earlier this month, enabling it to offer cybersecurity tools to U.S. federal agencies.

According to an SEC filing, the cybersecurity startup Horizon3.ai, based in San Francisco, is raising $100 million in a round headed by NEA, with $73 million already secured. With robust growth, the money will help expand its AI-powered security capabilities.

After Veza's $108 million funding round at an $800 million valuation disclosed in April, this deal becomes Horizon3.ai NEA's second significant cybersecurity company investment in less than a month.

The sources said that NEA led the round. Although it's unclear if the valuation is pre- or post-money. One source says the startup is thought to be worth up to $750 million.

According to a different source, the business may or may not have sold the entire $100 million. It also stated that it makes about $30 million in recurring revenue per year.

The most recent round of funding builds on the $40 million Series C round that Horizon3.ai raised in August 2023, led by Craft Ventures and including SignalFire.

The business raised $78.5 million in that round, which was used for acquiring engineering expertise, growing sales channels, and doing research and development.

The FedRAMP license allowed Horizon3.ai to market its products to federal agencies earlier this month. Without providing precise figures, it also declared in February that it had surpassed 150% of its Q4 pipeline projections and had 101% year-over-year revenue growth.

Horizon3.ai, which was founded in 2019 by Snehal Antani, a former CTO of Splunk and cyber operations leader in the Joint Special Operations Command of the U.S. military, offers a distinctive fusion of corporate technology with expertise in national defense. The group is made up of seasoned cybersecurity professionals and former Special Operations cyber operators.

Edited by Harshajit Sarmah