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Sequretek raises Rs 27 cr from Unicorn India Ventures, others

Devdiscourse News Desk
Updated: 25-09-2018 12:46 IST
Sequretek raises Rs 27 cr from Unicorn India Ventures, others

Cybersecurity company Sequretek Tuesday said it has raised Rs 27 crore led by Unicorn India Ventures. The bridge round also saw participation from GVFL and Netmagic MD and CEO Sharad Sanghi, Sequretek said in a statement.

While both Unicorn India Ventures and GVFL had invested in Sequretek last year in a pre-Series A round, Sanghi has participated in this round in a personal capacity, it added.

A clutch of Indian and international investors also participated in the funding round that will be used for the international foray, new product launch and international product benchmarking, it said.

"The company has been growing much faster than expected. Our enterprise client base is expanding with newer segments such as manufacturing, pharma, services, and retail coming on board whilst maintaining a strong traction in the financial sector," Sequretek Co-founder and CEO Pankit Desai said.

The fresh funding will help Sequretek scale up faster in India as well as internationally, he added.

Sequretek is gearing up for an international debut in North America, world's biggest cyber security market.

The freshly raised funds will be used to set up offices there, hire local talent and sign top clients in spanning industry segments - banking, financial services and insurance (BFSI), technology, retail, and online brands, the statement said.

The company is also slated to unveil its enterprise-grade, artificial intelligence-powered endpoint security solution – EDPR.

Launched in 2013, Sequretek currently works with more than 50 enterprise clients in BFSI, media, tech, pharma, and manufacturing.

It employs more than 300 professionals and is operationally break even.