TechFlow, August 1 - According to Techinasia, network risk management company Safe announced a $70 million Series C funding round led by Avataar Ventures, with participation from Susquehanna Asia Ventures, NextEquity Partners, and Prosperity7 Ventures. Existing investors Eight Roads, John Chambers, and Sorenson Capital also continued their support. Currently, major enterprises such as Google, Fidelity, T-Mobile, and Chevron have become Safe's clients. Industry data indicates that cybercrime is expected to cause an annual global loss of $12.2 trillion by 2031, while global cybersecurity spending from 2021 to 2025 is projected to exceed $1.75 trillion.
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