Infosec Security News

A Company That is Fundamentally Changing Managing Digital Risks: Safe Security

‘Make in India’ is more than just a call for self-reliance. It is also about ‘Make for World’ to bring a huge socio-economic impact through creation of job opportunities as well as IP. One company that has successfully embodied it within a very short time span is Safe Security (formerly Lucideus).

This is the same company that caught the attention of John Chambers, former chairman and CEO of Cisco Systems, who led a $5 million Series A funding round. Chambers went on to call Safe Security a game changer in the cybersecurity space. Incubated at IIT Bombay in 2012, the company now counts former Google India head and current MD of Sequoia Capital, Rajan Anandan and former Sr. Vice Chairman of Citigroup, Victor Menezes among its angel investors.

Needless to say, the discerning eyes and judgement of the tech industry veterans were not wrong with giving the startup a chance with SAFE Security growing into one of India’s most promising and fast-growing cybersecurity companies in less than a decade. Today it is India’s highest valued cybersecurity startup.

Founded by the trio of Saket Modi, Vidit Baxi and Rahul Tyagi, the company counts leading organizations like HDFC Bank, Google, Facebook, Adani, ICICI Bank, Tata and Big Basket among its customers. The company today provides cyber risk assessment services and platforms to multiple Fortune 500 companies and governments across the globe.

One of the biggest challenges that organizations face is the inability to measure and quantify cyber risk. Safe Security has filled that gap through its product, SAFE – Security Assessment Framework for Enterprise, an enterprise wide, objective, unified and real-time Cyber Risk Quantification (CRQ) platform.

SAFE enables an organization to measure and mitigate its cyber risk in real-time by contextually aggregating technical signals from existing cybersecurity products, external threat intelligence and business context. It aggregates risk-related data from IT assets and applications across 12 technology verticals (example: Servers, End Points, Network Devices, Databases etc.) in a central repository.

This data is then fed into a supervised Machine Learning Bayesian Network-based breach likelihood prediction engine that gives scores, prioritized actionable insights and the dollar value risk the organization is facing. The scoring model, which has been built as joint research with MIT, comes up with the Technology SAFE (breach likelihood) score both at a macro (across all technology devices) and at a micro (score per IP address) level.

SAFE has met with great success in the market for its ability to predict cyber breaches in an organization’s environment through quantified, consistent and real-time Cyber Risk Metric and bringing out actionable insights. Thus, enabling cybersecurity leaders to make informed decisions.

The company is now on a mission to make SAFE score the global de-facto industry standard to measure and mitigate cyber risks, by the year 2025.

Recently in December 2020, the company launched ‘SAFE Me’, a mobile application that gives users insights on breach likelihood, exposure on the dark web, and an algorithm-driven score on their safety based on a combination of factors, including exposure on the deep and dark web, cybersecurity awareness and device security among others. The app is available for free download on both Google Play Store and Apple App Store is available in three versions – Basic, Enterprise and Platinum – to suit a diverse range of consumer and business-level cybersecurity needs.

SAFE Me is available in three versions – Basic, Enterprise and Platinum – to suit a diverse range of consumer and business-level cybersecurity needs. The app has been launched on the Google Play Store and the iOS App Store.

Safe security has worked with worked with the government and was entrusted the responsibility of security assessment of BHIM application, a mobile payment platform built by NPCI. The company won an accolade at the national entrepreneurship awards organized by the Ministry of Skill Development and Entrepreneurship.

With research and innovation in its DNA, Safe Security actively collaborates with academia and research institutions. It has signed R&D agreements and conducts research on cybersecurity at Technion University and MIT. It has also partnered with the University of Delhi on a year-long postgraduate diploma course in cyber security.

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