[Funding alert] Strobes raises growth capital from SucSEED Indovation Fund as part of pre-Series A round
has secured growth capital from Hyderabad-headquartered SucSEED Indovation Fund as part of its pre-series A round.
Started in 2019, Strobes aim is to reduce the cybersecurity risks of companies through effective and efficient vulnerability management.
Venu Rao, Founder and CEO of Strobes, said,
“No code workflow, aggregating vulnerabilities from multiple sources, and prioritisation using ML-based threat intel is how Strobes is filling in a previously existing gap of vulnerability management.”
He further added that “the pre-seed funding we raised from SucSEED Indovation Fund will help us in gaining traction in the US market.”
According to a new market research report "Security and Vulnerability Management Market by Target, Deployment Mode (Cloud and On-premises), Organization Size, Vertical (Information, Finance and Insurance, Healthcare and Social Assistance, Utilities), and Region - Global Forecast to 2025", the market size is expected to grow from $9.3 billion in 2020 to $19.8 billion by 2028, at a compound annual growth rate (CAGR) of 9.9 percent from 2020 to 2028.
Unlike other Vulnerability Management Platforms, Strobes integrates with popular open-source scanners, top commercial scanners that include SAST, DAST, Mobile, Network, Cloud, and Container security scanners. It streamlines and prioritises resolution efforts with intelligent prioritisation metrics saving the team’s 35 percent of the operational time that goes into vulnerability management.
Commenting on the investment, Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said,
“We believe that a company’s internal information and its security are the utmost valuable assets to any company. A report stated that damage related to cybercrime is projected to hit $6 trillion annually by 2021 and protecting it at an early stage for companies is crucial. Our investment in this field will further help to grow the technology and enhance the overall security.”