Mumbai-based cyber security startup Sequretek has raised an undisclosed amount in Series A funding from GVFL and Unicorn India Ventures, according to a press statement.

The startup plans to use the funds for further building on intelligence within its current product offerings and foray into new markets within India and outside.

“Information security is of paramount concern to enterprises across the world. Unfortunately, the way security has evolved has resulted in silos each addressing a niche problem. At Sequretek, we believe in trying to simplify security and drive down the overall cost of ownership,” said Co-founder and CEO Pankit Desai.

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Launched in 2013 by Anand Naik and Desai, Sequretek offers a suite of products and services for securing information for their enterprise customers.

The startup has three offerings  – Avatar, Kawach and Integrated Managed Cyber Security. According to the firm, these offerings provide 360-degree protection, ranging from insider threats to external advanced persistent threats to enterprise customers and also has the capability to monitor customer’s environment on a 24×7 basis for deriving actionable intelligence to assess vulnerabilities, if any.

Currently, enterprises have to manage multiple security tools, which operate in silos, from several vendors thus adding to the complexity of handling targeted cyber threats. To combat this issue, Sequretek is building an integrated technology platform capable of providing complete protection to enterprises’ security needs, it said in a press release.

Sequretek clientele includes leading banks such as HDFC Bank, IDBI Federal, HDFC Limited and NCDEX, and several companies in the financial, retail, pharma and IT/ITES sectors.

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Anil Joshi, Managing Partner, Unicorn India Ventures, said. “Data has become an important currency for companies and even malicious elements, especially when the data is consumed on multiple devices. Thus, companies want to protect it even more fiercely now knowing how important it is to protect data from any vulnerability especially when the government is focusing on digitisation. Sequretek’s founding team and their ability to generate initial traction among top clients in industry within a short span of launching their business has given us the confidence to back this team.”

Sanjay Ranadhar, MD, GVFL, added: “Given the ever increasing complexity in cyber security industry, we believe that enterprises are looking for an effective and comprehensive solution that helps them to detect, monitor and respond to advanced cyber threats on a daily basis. Sequretek’s ‘unified threat platform’, which eliminates the need for multiple security tools within enterprise IT security systems was one of the significant aspects that got us excited about the company.”

Sanjay Randhar, MD, GVFL and Manoj Laddha, Partner, Unicorn India Ventures will be joining the board of Sequretek.

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