The U.S based Cyber security startup Securonix has raised $29 Mn in Series A funding round led by Volition Capital. Eight Roads Ventures also participated in the round. Following the investment, Volition Capital’s Roger Hurwitz will join as a new member in Securonix’s board of director team.
Securonix will primarily use the latest capital infusion to expand dominance in next-gen Security analytics market. Additionally, it will use the funds to accelerate growth in other critical spaces like user behavior analytics, event management (SIEM) & log management market.
Securonix was incorporated in 2007 by Sachin Nayyar. The startup is headquartered at Texas and has branches across different part of the world including London, Bengaluru and Pune. The company counts several high profile clients, while claiming that currently one third of its clients are fortune 500 firms.
Cyber Security – a growing market
As Information technology (IT) has grown at phenomenal space, so has the need for robust cyber security. Several IT experts believe that today hordes of companies with millions of data in possession are standing exposed to advanced cyber-attack. The world saw an example of this only few months back, when countless companies were hit by WannaCry (an advanced ransomware attack).
With cyber-attacks getting sophisticated & unpredictable, plethora of companies are expected to increase their spending on cyber security in future. This will most certainly open window opportunity for companies like Securonix and other competitors in this space. Securonix’s top competitors include companies like Lucideus, Sequretek, Kratikal and TAC Security Solutions.