The US and Chennai-based cybersecurity startup Securden has raised $10.5 million in its Series A funding round from Tiger Global.
The round also saw participation from existing investors Accel and Together Fund.
The startup plans to use the funds to scale up its research and development, sales and marketing operations. It also uses capital to grow its global team, accelerate executive recruitment, and expand its product portfolio.
Securden was founded in 2017 by former Zoho executives Bala Venkataramani and Kumaran Balan, It provides an access security and governance platform for IT services, DevOps and cloud environments.
Securden also caters to small and medium businesses, large enterprises and Fortune 500 companies.
“Access security today is siloed, complex, and broken. Organisations have to deploy multiple point products and security tools, which lead to multiple configurations, numerous training and consultancy sessions, and significant spending”, said, Bala Venkataramani, CEO of Securden Inc.
“The siloed approach often leaves them vulnerable to breaches and attacks. Securden vastly simplifies access security with one platform offering holistic, organisation-wide protection across environments; automated, just-in-time, just enough zero-trust access; and analytics-driven security ensuring 360-degree visibility — all at point-and-click simplicity”, he added.
The startup considers North America to be its primary market with 45 percent of its customer base, followed by Europe and the UK at 40 percent.
The startup did not disclose its revenue figures and Securdon is split evenly between enterprise customers and the SMB plus mid-market segment.
“We count on many large banking and financial institutions, manufacturing companies, healthcare organisations, IT service providers, government agencies, and educational institutions across the globe as our customers. Some of the most prominent brands are our customers”, said, Venkataramani.
Bala said the startup has a 30-member team in India that aims to grow 3x in a year across all streams including engineering, sales and marketing, customer support and human resources.
In July 2020, it has raised $ 1.2 million in a seed funding round from Accel with participation from Girish Mathrubootham (founder and CEO of Freshworks), Axilor Ventures, Manav Garg (founder and CEO of Eka1.com) and Mithun Sacheti (CEO of CaratLane).
About Securden :
Securden is a leading provider of privileged access governance solutions that uniquely combine the key security principles of zero-trust architecture, least privilege enforcement, and continuous risk assessment to prevent cyberattacks, malware propagation, and insider exploitation. With a refreshingly new approach, Securden offers complete control over privileged access, visibility without barriers, and superior access governance across cloud, physical, virtual environments.
Designed for security and scalability with simplicity in mind, Securden products (Password Vault for Enterprises, Privileged Account Manager, and Endpoint Privilege Management and Application Control) are trusted by organizations of all types and sizes, including large banking and financial institutions, government agencies, healthcare organizations, educational institutions, IT service providers, MSPs, and manufacturing companies across the globe.
Securden was founded with a rebellious spirit to shake the status quo and make security software simple to deploy, easy-to-use and highly affordable – all the while adopting latest technologies in cyber security and delivering innovative solutions. Led by a team of seasoned IT security professionals with more than 40 years of combined experience in core IT security, they operate with razor sharp focus on proactive security aspects to deliver products that help prevent security breaches in organizations globally.
Top talent in engineering, design, usability, security, data science and technical support, who shared the vision of the founders, have joined hands at Securden to build one of the most exciting IT security companies anywhere with a robust security product line. Securden is headquartered in Newark, Delaware and has an office at Chennai, India.