Sequretek, a Mumbai-based cyber security startup, has raised Series A 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 and IBM India.
GVFL Limited (formerly Gujarat Venture Finance Limited) is widely regarded as pioneer in venture capital in India. Founded in 1990 at the initiative of the World Bank, GVFL has raised eight venture capital funds, which have supported over 80 companies.
The GVFL Startup Fund focuses on highly scalable, innovative business models, across, sectors, which use technology as an enabler or differentiator and are backed by credible teams such as Sequretek.
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 24x7 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 of Unicorn India Ventures said, “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.”
Sanjay Ranadhar, MD of GVFL said, "Given the ever increasing complexity in the cybersecurity 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."
Sequretek plans to use the funds for further building on intelligence within their current product offerings and foray into new markets within India and outside.