Horizon3, a pioneering startup focused on enhancing the effectiveness of cybersecurity solutions for organizations, has successfully raised $40 million in a Series C funding round. The funding was led by Craft Ventures, with participation from Signal Fire and Okta Ventures. This achievement brings the total amount raised by Horizon3 to an impressive $78.5 million.
The funds from this round will be strategically utilized for research and development (R&D), expanding Horizon3’s channel presence, and bolstering the team of skilled engineers. Snehal Antani, the CEO of Horizon3, expressed his enthusiasm for the company’s future endeavors.
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Founding and Vision
Established in 2019 by a team of former U.S. Special Ops cyber operators, cybersecurity practitioners, and entrepreneurs, including CEO Snehal Antani, Horizon3 has a distinguished foundation. Notably, Antani’s background includes serving as the Chief Technology Officer at Splunk and being a team leader within the U.S. Military’s Joint Special Operations Command, a division focused on studying special operations techniques and requirements.
The founding team of Horizon3 was driven by a mission to address the prevalent security challenges encountered by enterprise-level organizations. These challenges encompass ineffective security tools, false positives, extended timeframes for hiring security consultants, and the complexities of manual security testing.
Revolutionizing Security
Horizon3’s strategy is built on evaluating security from the standpoint of an attacker, allowing them to cut through the noise and give answers. This goal is realized by providing continuous, autonomous testing and operations that detect proven attack pathways and weaknesses inside users’ networks. This commitment has resulted in the development of a best-in-class autonomous security risk management platform that serves technical users, decision-makers, and auditors equally.
Comprehensive Software Solution
Horizon3’s software is designed to perpetually discover, rectify, and validate exploitable attack surfaces. This is achieved by identifying attack paths, elucidating potential impacts on the organization, prioritizing necessary fixes, and confirming the efficacy of these solutions. With a plethora of exploit modules at its disposal, the platform can safely uncover and exploit specific vulnerabilities in networks.
These modules empower IT teams to proactively address security concerns within their infrastructure, while also assisting security teams in fine-tuning third-party security tools, assessing software supply chain risks, and gaining strategic insights.
Efficiency and Adaptability
A remarkable aspect of Horizon3’s platform is its user-friendly nature. It operates as a self-service software-as-a-service solution, eliminating the need for additional hardware or software maintenance. The platform mimics an attacker’s approach by navigating through a user’s network, chaining weaknesses together, and then safely exploiting them.
This uncovers blind spots in security posture beyond known vulnerabilities, such as compromised credentials, exposed data, misconfigurations, weak security controls, and inadequate policies. These weaknesses are meticulously prioritized based on their potential impact, offering users clear guidance on efficient remediation strategies.
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Future Growth and Potential
In a competitive market that includes players like Strike Security, Cobalt.io, and HackerOne, Horizon3 stands out as a prominent contender. The penetration testing tool market is projected to reach a valuation of up to $2.7 billion by 2027, as reported by Markets and Markets. Horizon3 has already achieved significant traction, amassing over 300 organizational clients, including government agencies. With the evolving cybersecurity landscape and the shift towards embracing autonomous penetration testing, Horizon3 anticipates continued growth in revenue and customer base.
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