UditIndusface, a startup offering IT security solutions, has now secured $5 million in the funding round from the Tata Capital Growth Fund II.
The funding will be going to be used by Indusface for global customer acquisition and product innovation, said the announcement.
“We believe the cybersecurity market will continue to see significant growth as securing digital assets becomes a priority with the increased salience of digital business processes and the consequent reliance on a trusted “digital assurance” provider like Indusface,” said Tata Capital Growth Fund’s Managing Partner Akhil Awasthi.
Indusface solutions help customers in detecting security risks and protect them from being hacked. The California based startup, set up in 2004, has officed across four locations in India and offers application security to more than 2000 active customers across the globe.
“In this rapidly changing scenario, as more and more businesses accelerate the digitisation of their operations via web applications, cloud-based managed application security solutions like ours are projected to be in huge demand,” said Ashish Tandon, Founder, and CEO of Indusface.