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The network risk management company Safe has completed a $70 million Series C financing round, led by Avataar Ventures.
According to a report by Techinasia on August 1, Deep Tide TechFlow announced that cybersecurity risk management company Safe has completed a $70 million Series C funding round, led by Avataar Ventures, with participation from Susquehanna Asia Venture Capital, NextEquity Partners, Prosperity7 Ventures, and existing investors Eight Roads, John Chambers, and Sorenson Capital continuing to invest. Currently, major companies such as Google, Fidelity, T-Mobile, and Chevron have become clients of Safe. Industry data indicates that by 2031, cybercrime is expected to cause an annual loss of $12.2 trillion globally, while global cybersecurity spending is projected to exceed $1.75 trillion from 2021 to 2025.