IT security startup Securden, Inc., focusing on governance and access security has received USD 10.5 million (about Rs 80 crore) in a Series A investment led by New York-based investment firm Tiger Global Management, the company said on Wednesday.
The fundraising has seen participation from Together Fund and the existing investor Accel, a company statement said here. “The company intends to use the fresh funding to scale research and development, sales and marketing, grow the team across streams globally and expand product portfolio,” it said. The investment round follows Securden’s impressive revenue growth and rapid customer adoption across 26 verticals during the past year.
“We are excited to have Accel double down on Securden and thrilled to have Tiger Global and Together Fund as new investors. The expertise and excitement they bring will help us emerge as a leader in this space offering the most advanced access governance platform,” company CEO Bala Venkatramani said. “Access security today is siloed, complex and broken. Organisations have to deploy multiple point products and security tools, which lead to multiple configurations, numerous training and consultancy sessions and significant spending,” he said.
Securden vastly simplifies access security with one platform offering holistic, organisation-wide protection across environments, automated, and analytics driven security ensuring 360-degree visibility, he said.