BENGALURU, India, April 23, 2020 /PRNewswire/ -- Indusface, a leading application security SaaS start-up that helps organisations protect their web & mobile applications has secured $5 million in funding from Tata Capital Growth Fund II to accelerate global customer acquisition and product innovation plans.
Tata Capital Growth Fund (TCGF) II invests in companies that fall under three themes – Urbanisation, Discrete manufacturing and Strategic services. These fast growing companies benefit from the synergies and networks that the Tata Group and the team will provide. TCGF family of funds have created a niche in terms of identifying companies that are well positioned to redefine or create large new markets, with notable investments such as Star Health & Allied Insurance Ltd, Sai Life Sciences and Home First Finance Company, to name a few. Pramod Ahuja, Partner, Tata Capital Growth Fund will join the Indusface Board of Directors.
"TCGF II is excited to support Indusface and its top notch team led by Ashish in their growth plans. We believe that the cyber security market will continue to see significant growth as securing digital assets becomes a priority with the increased salience of digital business processes and the consequent reliance on a trusted 'digital assurance' provider like Indusface," says Akhil Awasthi, Managing Partner, Tata Capital Growth Fund.
Indusface solutions secure thousands of customer applications globally by detecting security risks and protecting them from being hacked. At the heart of the Indusface solution is a cloud-based security platform built using their proprietary Web Application Security Scanner and a dynamic Web Application Firewall, integrated with an intelligent global threat information engine and managed by security experts.
"In this rapidly changing scenario, as more and more businesses accelerate digitization of their operations via web applications, cloud-based managed application security solutions like ours are projected to be in huge demand," said Ashish Tandon, Founder & CEO of Indusface. "We are delighted to partner with a trusted brand like the Tata Capital Growth Fund and look forward to leveraging their global outreach and expertise in executing our growth plans rapidly."
Indusface is an award-winning application security start-up with over 2000 active customers. With Its application security cloud platform, it is the industry's first truly integrated 'Total Application Security' solution that 'Detects, Protects & Monitors' applications on a continuous basis to safeguard them from attackers as well as accelerating the performance of the applications.
About Tata Capital Growth Fund
Tata Capital Growth Fund (TCGF) II is the successor fund to TCGF I, which raised approximately US$240 Million in 2011. TCGF I is fully invested and has exited five of its portfolio investments. TCGF II like TCGF I's investment strategy will be guided by its three themes, namely Discrete manufacturing, Urbanisation and Strategic services.