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Sequretek, a Mumbai-based global cybersecurity solutions provider, has raised $8 million in a Series A round of funding led by Omidyar Network India. Narottam Sekhsaria Family Office and Alteria Capital also participated in this round.

According to a statement by the company, the latest funding will be utilised to scale its global operations and go-to-market strategies. The capital will also be used to drive higher adoption of cybersecurity solutions for businesses in India and other global markets as well as increase market share and profitability in the small and medium businesses (SMB) segment.

“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,” stated Pankit Desai, CEO of Sequretek.

With our consolidated offerings and the backing of our investors, we’re channeling our efforts to increase accessibility and create awareness with integrated cybersecurity management for SMBs,” he added.

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Founded in 2013 by Pankit Desai and Anand Naik, Sequretek offers protection to businesses from cyber breaches through its own AI-powered Percept Cloud Security Platform (CSP). The Percept CSP includes Percept Extended Detection & Response (XDR), Percept Identity Administration & Governance (IGA), Percept Endpoint Detection & Response (EDR) products, and Managed Security Services (MSS).

Sequretek, which has a workforce of 450+ employees, said it helps nearly 150+ businesses meet regulatory/compliance needs.

“At Omidyar Network India, we are focused on driving accessibility of privacy and data governance solutions especially for small and mid sized customers. In the last decade, Sequretek has successfully implemented its vision of taking cutting-edge AI driven cybersecurity products to underserved sectors in India at affordable price points.” added Shilpa Kumar, Partner at Omidyar Network India.

“Their digital plus working model has also demonstrated the business viability in catering to the burgeoning Indian SMB sector which often lacks dedicated information security resources,” she added.