Sequretek, a worldwide provider of cybersecurity solutions, has raised $8 million in a Series A fundraising round led by Omidyar Network India. Alteria Capital and the Narottam Sekhsaria Family Office also participated. The business has raised $5.5 million in stock and the balance in debt financing.
The capital will be used to expand its go-to-market plans and international operations.The money will also be utilised to boost profitability and market share in the small and medium-sized company segment, as well as to encourage enterprises in India and other international markets to embrace cybersecurity solutions at a higher rate.
“Small and medium businesses have increasingly become more susceptible to cyber-attacks in the post-pandemic world. While more SMBs have realized the need for efficient cybersecurity management, lack of budget-friendly consolidated solutions and inadequate in-house resources, have created a large security gap in the sector. With our consolidated offerings and the backing of our investors, we’re channeling our efforts to increase accessibility and create awareness with an integrated cybersecurity management for SMBs,” says Pankit Desai, CEO of Sequretek.
With a compound annual growth rate (CAGR) of more than 50%, Sequretek currently serves more than 120 clients globally.
Technology influencers such as Gartner, ICSA Labs, and NASSCOM cover Sequretek products, and the company has access to the Indian and US markets through strategic collaborations with Intel, Ingram Micro, and FIS. Over the past few years, the company has gained attention from a number of government agencies, startup groups, and the media.
Global cybersecurity firm Sequretek provides end-to-end protection via their AI-powered Percept Cloud Security Platform (PCSP) for corporate threat monitoring, incident response (Percept XDR), device security (Percept EDR), identity & access governance (Percept IGA), and device security (Percept XDR).