Executive Summary
Total Capital Raised: $940M across 15 funding rounds
– Average round size: $62.7M
– Median round size: $35M
– Top valuation: Exaforce at $725M
Key Trends:
– AI security is no longer a feature – it’s a platform
– Agentic AI for SOC automation is the next category
– AI safety/testing is becoming a regulated category
– Strategic investors (Accenture, Liberty Mutual) are now active
Top Investors:
– Cyber Ventures (7 rounds, 46.7% of all deals)
– Sequoia Capital (2 rounds, $125M)
– Andreessen Horowitz (2 rounds, $100M)
– NEA (2 rounds, $85M)
– Wing Venture Capital (AI safety specialist)
Key Competitive Intelligence
Category Leaders:
1. Exaforce – $725M valuation, 35% market share in agentic AI security
2. Aegis AI Security – Estimated $500M+ valuation
3. XBOW – $270M total funding, 40% market share in autonomous offensive security
4. Gray Swan – 60% of AI safety testing mark
Market Analysis
By Stage:
– Series A: $275M (45.2%) – Most active stage
– Series B: $210M (33.3%) – Mature category
– Seed/Pre-Seed: $52M (17.3%) – Early innovation
By Category:
– Agentic AI Security: $185M (19.7%) – SOC automation
– AI Platform Security: $210M (22.3%) – Real-time response
– AI Safety/Testing: $55M (5.8%) – Frontier AI testing
– Autonomous Security: $42M (4.5%) – Offensive security
Geographic Distribution:
– San Francisco: 26.7%
– Austin: 20.0%
– Seattle: 13.3%
– Pittsburgh: 13.3%
– Boston: 13.3%
– New York: 13.3%
Top Funding Rounds
Rank: 1
Company: Exaforce
Round: Series B
Amount: $125M
Date: May 12
Valuation: $725M
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Rank: 2
Company: Aegis AI Security
Round: Series B
Amount: $85M
Date: June 1
Valuation: —
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Rank: 3
Company: XBOW
Round: Series C Extension
Amount: $35M
Date: May 6
Valuation: — (Total: $270M)
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Rank: 4
Company: Gray Swan
Round: Series A
Amount: $40M
Date: May 28
Valuation: —
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Rank: 5
Company: CyberAgent AI
Round: Series A
Amount: $30M
Date: Apr 10
Valuation: —
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Rank: 6
Company: Exaforce
Round: Series A
Amount: $75M
Date: Apr 25
Valuation: —