5 May, 2016, Mumbai: Completing its series B funding round, Seclore, a Mumbai-based startup has acquired 12 million funding. The round was headed by Russian firm Sistema JSFC’s Sistema Asia Fund. Recently, the Russian firm has floated around US $50 million proprietary fund under Asia Fund to back Indian startups. The company is looking forward to support entrepreneurs whose ventures have revolutionised the technology and retail sectors.
These proprietary funds have been contributed by the association of four funding organisations including Helion Ventures, VentureEast and India Alternatives Private Equity Fund. Seclore was jointly founded by Vishal Gupta and Abhijit Tannu in 2005. The company focuses on embedding security, privacy and compliance policies within information itself, in order to secure information shared externally. The firm equips enterprise with digital rights management solution (EDRM) that empowers the company to tackle the problems related to cyber-attacks.
Vishal Gupta, co-founder and CEO of Seclore said, “There had been an uptick in demand for EDRM as organisations are finding that persistent, granular file-centric security is the best defence against cyberattacks and other risks associated with sharing of sensitive information.”
Seclore claims to have nearly 4 million users across 400 companies in 22 countries. It provides its flagship solutions to companies such as ICICI Bank, HDFC, Kotak, L&T, Thyssenkrupp, among others.