Hyderabad-based full-stack cybersecurity startup BluSapphire has raised $9.2 million in a Series A funding round led by Barings Private Equity India, with participation from Dallas Venture Capital, RPG Ventures and Merisis Venture Partners, Binny Bansal backed xto10x.
The startup plans to use the raised capital to build and grow its SaaS platform across North America and India.
Founded in 2014 by Kiran Vangaveti, a 25-year-old experienced cyber professional and ex-CISO of hedge fund titan Tudor Investments, the platform solves the industry gap in security operations and visibility space.
The full stack AI and predictive analytics platform empowers clients to prevent sophisticated cyberattacks across cloud, on-prem and hybrid work environments.
“Building resilience against sophisticated cyber-attacks is the key to business survival. BluSapphire operates with this vision. The capital will help us continue to build and grow our SaaS platform rapidly across North America and India,” said Kiran Vangaveti, Founder & CEO, BluSapphire Cyber Systems.
Arul Mehra, Partner, Barings Private Equity India, commented, “BluSapphire offers a full stack cybersecurity platform, which helps automate cybersecurity operations. 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.”
Shyam Penumaka, Partner at Dallas Venture Capital, said, “We are very impressed by BluSapphire’s Unified Platform’s capabilities which go beyond XDR, which include threat detection and prevention in a proactive manner. BluSapphire has acquired a reputed customer portfolio and has also built an impressive list of partners, including leading MSSPs both in India and the USA.”