Seclore a Mumbai based startup has raised $12 Million in it Series B funding from Sistema Asia Fund, Venture East, Indian Alternatives and Helion Venture. Earlier Seclore had raised $6 million in its Series A funding from Venture East and Helion Venture Partners.
Shivani Bhasin founded India Alternatives Private Equity Fund. It is a mid-growth private equity fund. It is sponsored by IIFL Wealth Management Ltd.
It was founded by Vishal Gupta and Abhijit Tannu IIT alumni in 2005. It allows the enterprises to secure their information. Companies which have their offices in the US, for them it provides ERDM- Enterprise Digital Rights Management solutions to protect informations from cyber attacks.
Seclore claims to have 4 million users across 400 companies in 29 countries. It offers their services to HDFC, ICICI Bank, Maruti Suzuki, L&T, TCS, Suzlon Energy, Aditya Birla group, Essar among others.
Sistema Asia Fund Advisors, Partners and Managing Director, Kirill Kozhevnikov has joined the Seclore board. In February 2016, Russian conglomerate Sistema JSFC had floated a %50 million Asia Fund to invest in Indian Startups in Technology and Niche consumer retail sectors.
Vishal Gupta, CEO, Seclore said
“There is a dramatic uptick in the demand for EDRM as the need to collaborate securely with external partners grows. Organisations are finding that persistent, granular file-centric security is the best defense against cyber-attacks and other risks associated with the sharing of sensitive information. Our solid growth in the fiscal year ending March, 2016, along with the Series B funding, will enable us to continue driving technological innovations in the EDRM space.”