Cybersecurity startup Sequretek has raised Rs 27 crores in a bridge round. The round has been led by Unicorn India Ventures and co-investors include GVFL and Sharad Sanghi, MD & CEO, Netmagic. 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. This is 2nd institutional round raised by Sequretek.
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 BFSI, tech, retail and online brands.
Pankit Desai, Co-founder & CEO, Sequretek says, “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.”
The Company is also a week away from announcing its enterprise-grade endpoint security solution – EDPR. Sequretek currently works with more than 50 enterprise clients in BFSI, media, tech, pharma and manufacturing. The Company employs more than 300 professionals and is operationally break even.
Anand Naik, Co-founder & CEO, Sequretek says, “We are a few days from the commercial rollout 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.”
Unicorn India Ventures and GVFL, who made their first investment in Sequretek last year, have invested in this round with the former leading the round.
Anil Joshi, Managing Partner, Unicorn India Ventures says, “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 the runway in order to achieve the milestones they have set for themselves.”