Sequretek, a Cybersecurity Firm, Secures $8 Million in Funding with Omidyar Network India as Lead Investor

• ByStartupStory     |    November 7, 2023

Mumbai-based global cybersecurity solutions provider, Sequretek, has secured $8 million in a Series A funding round, with Omidyar Network India leading the investment. The Narottam Sekhsaria Family Office and Alteria Capital also participated in this funding round. According to the company’s statement, the newly raised capital will be employed to expand its global operations and go-to-market strategies. It will also be used to drive greater adoption of cybersecurity solutions for businesses in India and other international markets, while simultaneously increasing market share and profitability in the small and medium business (SMB) segment.

Pankit Desai, CEO of Sequretek, noted, “Small and medium businesses have become increasingly vulnerable to cyberattacks in the post-pandemic world. While more SMBs have recognized the need for efficient cybersecurity management, the lack of budget-friendly consolidated solutions and inadequate in-house resources have created a significant security gap in the sector. With our consolidated offerings and the support of our investors, we are focusing our efforts on increasing accessibility and raising awareness by providing integrated cybersecurity management for SMBs.”

Established in 2013 by Pankit Desai and Anand Naik, Sequretek offers businesses protection against cyber breaches through its AI-powered Percept Cloud Security Platform (CSP). The Percept CSP comprises Percept Extended Detection & Response (XDR), Percept Identity Administration & Governance (IGA), Percept Endpoint Detection & Response (EDR) products, and Managed Security Services (MSS). With a workforce of over 450 employees, Sequretek assists approximately 150+ businesses in meeting regulatory and compliance requirements.

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Shilpa Kumar, Partner at Omidyar Network India, expressed, “At Omidyar Network India, we are focused on driving accessibility to privacy and data governance solutions, especially for small and mid-sized customers. In the last decade, Sequretek has successfully implemented its vision of delivering cutting-edge AI-driven cybersecurity products to underserved sectors in India at affordable price points. Their digital-plus working model has also demonstrated the business viability of catering to the burgeoning Indian SMB sector, which often lacks dedicated information security resources.”

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