Cybersecurity startup FireCompass bags $7 Million in funding round led by Cervin
FireCompass, a cybersecurity startup, announced Monday that it has raised $7 million in an early-stage funding round led by Palo Alto-based venture capital firm Cervin.
Other investors in the round included Bengaluru-based Athera Venture Partners and Ahmedabad-based deeptech investor Bharat Innovation Fund (BIF). BIF had previously invested in the startup in an undisclosed amount.
Bikash Barai, co-founder and CEO of FireCompass, said that the new capital will be used to innovate on its existing product line, explore new product adjacencies, and expand operations across India, the United States, the Middle East, and Europe, ET reported.
FireCompass, founded in 2019 by Barai and Priyanka Aash, protects businesses from data breaches by continuously scanning the deep, dark, and surface webs with artificial intelligence-powered tools.
External attack surface management (EASM), continuous automated red teaming (CART), attack surface management, digital footprint and shadow IT, and ransomware risk assessment are among its solutions.
External attack surface management (EASM), continuous automated red teaming (CART), attack surface management, digital footprint and shadow IT, and ransomware risk assessment are among its solutions.
FireCompass, which generates approximately 60% of its revenue in the United States, claims to be a category creator with CART, a system that assists enterprises in continuously discovering and testing assets at all times. The solution runs continuously without the need for additional software, hardware, or employee resources.
FireCompass, which has offices in both Boston and Bengaluru, launches safe attacks that mimic real attackers to help identify attack paths that would otherwise be missed by conventional tools.
Chiratae Ventures had previously funded Barai’s previous cybersecurity startup, iViZ Security. Synopsys, a Nasdaq-listed company, later purchased iViZ Security.
Three telecom companies, including T-Mobile in the United States, financial companies Future Generali and Airtel Payments Bank, system integrators L&T Technologies Services, and e-commerce firm Nykaa are among the company’s clients.
Last year, IBM announced the acquisition of Randori, a Boston-based offensive security startup that combines attack surface management (ASM) with continuous automated red teaming (CART) to assist organisations in strengthening their cyber defences.
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