MUMBAI: Mumbai-based cyber security start-up – Sequretek has raised Series A funding from GVFL and Unicorn India Ventures. Sequretek was launched in 2013 by Anand Naik, a well-known information security industry veteran with leadership roles at Symantec, IBM and Sun Microsystems and IT Industry veteran Pankit Desai, who has worked in top management roles across Rolta, NTT Data, IBM India.
Sequretek offers a comprehensive suite of products and services for securing information for their enterprise customers. The Company has three offerings for its customers – Avatar, Kawach and Integrated Managed Cyber Security. These offerings provide 360-degree protection, ranging from insider threats to external advanced persistent threats to enterprise customers and also has the capability to monitor customer’s environment on a 24×7 basis for deriving actionable intelligence to assess vulnerabilities, if any. Currently, enterprises have to manage multiple security tools, which operate in silos, from several vendors thus adding to the complexity of handling targeted cyber threats. To combat this issue, Sequretek is building an integrated technology platform capable of providing complete protection to enterprises’ security needs.
Sequretek clientele includes some of the most prominent names like HDFC Bank, IDBI Federal, HDFC Limited and NCDEX along with several others from financial, retail, pharma and IT/ITES sectors.
Anil Joshi, Managing Partner, Unicorn India Ventures says. “Data has become an important currency for companies and even malicious elements, especially when the data is consumed on multiple devices. Thus, companies want to protect it even more fiercely now knowing how important it is to protect data from any vulnerability especially when the Government is focusing on digitization. Sequretek’s founding team and their ability to generate initial traction among top clients in industry within a short span of launching their business has given us the confidence to back this team.”
Sanjay Ranadhar, MD, GVFL says, “Given the ever increasing complexity in cyber security industry, we believe that enterprises are looking for an effective and comprehensive solution that helps them to detect, monitor and respond to advanced cyber threats on a daily basis. Sequretek’s ‘unified threat platform’, which eliminates the need for multiple security tools within enterprise IT security systems was one of the significant aspects that got us excited about the company.”
Pankit Desai, Co-Founder and CEO, Sequretek says. “Information Security is of paramount concern to enterprises across the world. Unfortunately, the way security has evolved has resulted in silos each addressing a niche problem. At Sequretek, we believe in trying to simplify security and drive down the overall cost of ownership. Unicorn India Ventures and GVFL’s vision of supporting enterprise focused and massively scalable tech companies fits very well with our vision of partnering with investors who can be accretive to the company’s growth.”
Sanjay Ranadhar, MD, GVFL and Manoj Laddha, Partner, Unicorn India Ventures will be joining the board of Sequretek.
Sequretek plans to use the funds for further building on intelligence within their current product offerings and foray into new markets within India and out side.
J R Laddha Financial Services, a Mumbai-based leading boutique investment-banking firm acted as an advisor to this round of capital raise.