Cyber security platform BluSapphire raises $9.2M funding in Series A round
BluSapphire will use the funding to continue to build and grow the SaaS platform rapidly across North America and India.
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, and Merisis Venture Partners, Binny Bansal backed . ValueBridge Capital was the sole advisor for this transaction.
“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," said Arul Mehra, Partner, Barings Private Equity India.
"The product has strong validation from reputed defence and corporate sector clients and it has won various awards. We are privileged to partner with them in this growth journey,” he added.
The funds will help the startup continue to build and grow the SaaS platform rapidly across North America and India.
Speaking on the fundraise, 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.”
Hyderabard-based, founded by Kiran Vangaveti, a Gartner Cool Vendor, in 2014, is a hyper growth cybersecurity SaaS platform. The full stack AI and predictive analytics platform empowers customers to prevent sophisticated cyberattacks across cloud, on-prem and hybrid work environments.
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.
"DVC is excited to partner with BluSapphire to accelerate their success in India and the USA through our proprietary DVC Advantage program”, he added.
Edited by Megha Reddy