25 September 2018, India:
Cyber-security startup Sequretek has raised Rs 27 crores in a bridge round. The round was led by existing investor Unicorn India Ventures. GVFL and Sharad Sanghi (MD & CEO, Netmagic) also participated in the funding round. This is 2nd institutional round raised by the cyber-security startup.
Sequretek is gearing up for 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 BFSI, tech, retail and online brands.
Both Unicorn India Ventures and GVFL invested in Sequretek last year in a pre Series A round. Sharad Sanghi has invested in this round in a personal capacity.
“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. These freshly infused funds will help Sequretek scale up faster in India as well as internationally too,” said Pankit Desai, Co-founder & CEO, Sequretek.
“We are a few days from the commercial roll out of EDPR, which is an AI powered endpoint security solution for enterprises. The funds raised will help us achieve international industry benchmarking for EDPR as we believe this will a game changing product in the endpoint security space,” said Anand Naik, Co-founder & CEO, Sequretek.
“At Unicorn India, our belief is to identify passionate entrepreneurs with an acute business sense and a drive to scale up their ventures. We see that quite clearly in Sequretek. We want to continue to be their growth partners and hence we decided to lead this round to provide them with runway in order achieve the milestones they have set for themselves,” said Anil Joshi, Managing Partner, Unicorn India Ventures .
Sequretek was launched in 2013. It has articulated its vision to build out a strong product footprint in each of the areas that it operates, and using it as a force multiplier to solve complex enterprise security needs.
Sequretek claims to currently work with more than 50 enterprise clients in BFSI, media, tech, pharma and manufacturing. The company employs more than 300 professionals and is operationaly break even. The Company is also a week away from announcing its enterprise grade endpoint security solution – EDPR.
(Image – Crunchbase)