Fri. Jul 19th, 2024

Securonix, a startup that provides big data security analytics service, has announced that it has raised ₹187 crore ($29 million) in its Series A funding round.

The round was led by Volition Capital along with participation from Eight Roads Ventures. In conjunction with the funding, Roger Hurwitz of Volition Capital will be joining the Securonix Board of Directors.

The newly infused capital will be used by the Bangalore and US based company to accelerate investment in technology innovation, and expansion in domestic and global markets.

Commenting on the investment, Raj Dugar, managing partner, Eight Roads Asia, said,

Organizations are looking for a solution that detects and responds to threats in real-time, and Securonix’s modern approach and patented machine learning technology positions it to be the market leader in this space.

Sachin Nayyar, CEO and Founder of Securonix, said,

I am very excited to have high-caliber investors like Volition Capital and Eight Roads that understand our business and share our passion for innovation, customer satisfaction, and global market leadership. We have a tremendous opportunity to establish Securonix as a platform of choice for security analytics, and this investment and the experience the partners bring will help us reach that next level of growth.

Securonix provides enterprise with a security analytics platform that uses Hadoop and machine learning technology to consume, enriche and analyze massive volumes of data in real-time. This helps to detect and prioritize the highest insider threat, cyber threat, cloud and fraud attacks automatically and accurately.

The company says that it has customers across several industry verticals including more than a third of the Fortune 500 companies, and employs over 300 people located across the globe.

By Jeet