Cybersecurity Startup Sequretek Raises $3.7 Mn

Cybersecurity Startup Sequretek Raises $3.7 Mn 1

Cybersecurity company Sequretek Tuesday said in a report today morning that it has raised Rs 27 crore which is led by a prominent investor that is 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 also year in a funding round of pre Series A which was also led by the Sanghi has participated in this round in a personal capacity, it also added.

A clutch of Indian and international investors also participated in the funding round which will also going to be used for 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 international debut in North America, world’s biggest Cybersecurity 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 reveal its enterprise-grade, which is as of now working on the artificial intelligence-powered endpoint security solution – EDPR.

The startup which is launched in the year 2013, Sequretek currently works with around more than 50 enterprise clients in the sector of BFSI, media, tech, pharma and manufacturing. It employs more than 300 professionals and is operationally break even.

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