Securden Raises $10.5 Million In Series A Funding Round Led By Tiger Global
Funds will be utilized to to scale R&D, sales, and marketing operations, grow the team across streams globally, accelerate executive hiring, and expand the product portfolio.
Delaware, USA, and Chennai-based IT security startup, Securden on Wednesday announced to have raised $10.5 million in a Series A investment led by Tiger Global. The round has seen participation from Together Fund and the existing investor Accel. Funds will be utilized to to scale R&D, sales, and marketing operations, grow the team across streams globally, accelerate executive hiring, and expand the product portfolio.
Macro trends like digital transformation, large-scale cloud and DevOps adoption, IoT, and remote work are creating an explosion of human and machine identities and a complex web of access and privileges. Mismanagement of these causes more than 80 per cent of security breaches, including identity thefts, malware or ransom ware propagation, and insider exploitation. As a result, securing identities, controlling access, enforcing best practices, and continuously monitoring privileges have become the foundational elements of information security. Privileged access security is among the top priority projects for IT Managers, CIOs and CISOs, according to a statement given by the company.
"Organizations have to deploy multiple point products and security tools, which lead to multiple configurations, numerous training and consultancy sessions, and significant spending. The siloed approach often leaves them vulnerable to breaches and attacks. Securden vastly simplifies access security with one platform offering holistic, organization-wide protection across environments; automated, just-in-time, just enough zero-trust access; and analytics-driven security ensuring 360-degree visibility - all at point-and-click simplicity," said Bala Venkataramani, co-founder and CEO, Secureden.
Founded by IT security veterans Bala Venkatramani and Kumaran Balan, who carry more than 20 years of experience each in creating software products in IT security, Securden now offers an innovative and highly differentiated privileged access governance platform trusted by hundreds of organizations - SMBs, large enterprises, and Fortune-500 companies alike.