In a series A funding round headed by Barings PE India, the cybersecurity startup BluSapphire raises $9.2 million (or around 76 crore).
The funding was led by Barings Private Equity India with participation from cross-border VC firm Dallas Venture Capital, Binny Bansal-backed xto10x, RPG Ventures, and Merisis Venture Partners. ValueBridge Capital was the sole advisor for this transaction.
The Stemford, US based BluSapphire Technologies is the first and only unified platform for automated intelligent response to cyberattacks.
In 2017, the platform was founded by Kiran Vangaveti, a cyber professional with 25 years of experience and the former chief information security officer.
“Building resilience against sophisticated cyber-attacks is the key to business survival. BluSapphire operates with this vision. We are thankful for the continued trust placed in us by our loyal partners and clients, who have enabled our growth. The capital will help us continue to build and grow our SaaS platform rapidly across North America and India,” Kiran says to Entrepreneur India.
“BluSapphire offers a full stack cybersecurity platform, which helps automate cybersecurity operations. The efficiencies offered by their platform can reduce SOC operating expenses by close to 70 percent with cutting-edge detection and response times. The product has strong validation from reputed defense and corporate sector clients and it has won various awards. We are privileged to partner with them in this growth journey,” Arul Mehra, partner, of Barings Private Equity India says.
BluSapphire is a rapidly expanding cybersecurity SaaS platform. The platform closes the visibility and security operations gap in the market. Clients can prevent complex cyberattacks in the cloud, on-prem, and hybrid work environments due to the full-stack AI and predictive analytics platform.