Mobile app cybersecurity and fraud control platform Protectt.ai raises Rs 76 crore in funding

Protectt.ai, a mobile app cybersecurity & fraud control platform, today announced it has raised Rs 76 crore in a Series A funding round led by Bessemer Venture Partners.

The startup plans to use the raised capital to enhance its AI-driven mobile app security solution platform, accelerate product innovation, build new solutions for AI security, nurture niche talent in cybersecurity, and support its global expansion initiatives in the U.S., Middle East, and APAC.

What does Protectt.ai do?

Founded by Manish Mimani and Mohanraj Selvaraj, Protectt.ai is a Mobile Threat Defense (MTD) cybersecurity startup specializing in next-generation mobile app, device, and transaction security solutions. The startup has developed a mobile app, XDR Platform, which offers advanced protection against evolving cyber threats, fraud, and malicious attacks, ensuring the security of mobile businesses and users worldwide.

The startup said its AI-powered platform adapts to emerging threats in real-time, providing proactive, always-on defence throughout the mobile app lifecycle - from development to deployment. Protectt.ai enables organizations to maintain robust protection in a mobile-first world by securing every layer of mobile app security with intelligent automation.

It also serves as a global compliance hub for mobile app owners who need to comply with regulations from entities such as RBI, SEBI, NPCI and other regulatory bodies.

"Protectt.ai is committed to building cutting-edge AI-powered mobile App Security solutions that safeguard businesses and consumers alike. This investment will enable us to enhance our technology, scale our operations, and expand into new geographies, reinforcing our position as a leader in mobile app security, ensuring hyper-growth," said Manish Mimani, Founder & CEO of Protectt.ai.

Market presence

Protectt.ai claims to have covered over 300 million smartphones, processing approximately 2 billion+ mobile app sessions every month while preventing 200 million+ cyber threats and fraud events every month.

The startup further claims that banking, insurance, NBFC, fintech, stock exchange & government mobile apps use its solutions.

"Cybersecurity is a core area of focus for us, and Protectt.ai has demonstrated a strong ability to tackle evolving cyber threats through AI-first security solutions. As mobile usage continues to rise, so do threats. Securing digital transactions and applications, therefore, has become a critical priority across industries. Protectt.ai’s innovative approach, coupled with its rapid growth trajectory, makes it a promising leader in the mobile threat defence space. We are excited to support them in their next phase of expansion," said Vishal Gupta, Partner at Bessemer in India.