Full-stack cybersecurity platform BluSapphire Cyber Systems has raised $9.2 million as part of its Series A round. The round was led by Barings Private Equity India with participation from cross-border VC firm Dallas Venture Capital, Binny Bansal backed xto10x, RPG Ventures & Merisis Venture Partners. ValueBridge Capital was the sole advisor for this transaction.
Speaking on the fundraiser, Kiran Vangaveti, Founder & CEO, BluSapphire Cyber Systems said, “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.”
Arul Mehra, Partner, Barings Private Equity India, said, “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% 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.”
“We are very impressed by BluSapphire’s Unified Platform’s capabilities which go beyond XDR, and 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” added Shyam Penumaka, Partner at Dallas Venture Capital. DVC is excited to partner with BluSapphire to accelerate their success in India and the USA through our proprietary DVC Advantage program”, added Mr. Penumaka.
BluSapphire, a Gartner Cool Vendor, is a hyper-growth cybersecurity SaaS platform. Started by Kiran Vangaveti, a 25yrs 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 empower clients to prevent sophisticated cyberattacks across cloud, on-prem and hybrid work environments.