Safe Security, a cyber risk management startup based in Silicon Valley, has secured a $ 33 million investment from British telecommunications company BT.

Safe Security – formerly known as Lucideus – was founded in 2012 and helps companies measure and mitigate company-wide cyber risks with its Enterprise Security Assessment Platform (SAFE). Used by a number of companies including Facebook, Softbank, and Xiaomi, the service helps companies identify the likelihood of a major cyberattack, calculates the financial cost of customer risks, and provides actionable insights into the actions to be taken to remedy them can be undertaken.

Safe Security’s existing investors, including former Cisco Chairman and CEO John Chambers, participated in this funding round, bringing Safe Security’s total amount to $ 49.2 million.

BT said the investment, which marks the first major third-party cybersecurity investment since 2006, is its …

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