Cyber security startup PingSafe, founded by ethical hackers — Anand Prakash and Nishant Mittal, has secured a $3.3 million seed funding in a round led by Peak XV Partners (formerly Sequoia India) along with participation of other investors, reported several media outlets.
Other investors who participated in this round include angel investors, Rahul Chari (PhonePe co-founder), Neeraj Arora, Saurya Prakash, Vivek Ramachandran (SquareX Founder), Gaurav Agarwal (Tata 1mg co-founder & CTO), and early stage VC firm Tanglin Ventures.
In a media statement, PingSafe says that the freshly raised funds will ramp up global business development efforts in US and South-East Asian countries. With the Indian government bringing new regulations like Digital Personal Data Protection (DPDP) into law, along with the increasing cybersecurity risk faced by clients as they move to cloud, PingSafe is well positioned to serve the Indian cloud security market needs
Since rebranding this is Peak XV's second investment. Last month, Bengaluru-based spacetech startup Digantara secured $10 million from Peak XV.
Founded in 2021, PingSafe is a cloud security platform with a comprehensive knowledge of the attackers' modus-operandi. PingSafe helps businesses across various sizes and verticals transform cloud security and claims to eliminate all hidden and exploitable vulnerabilities at blazing-fast speed and scale.
Anand Prakash, the Co-Founder & CEO, is a renowned white hat hacker who ranked in the top 5 bug bounty hunters by companies like Meta, Uber, Twitter, LinkedIn, and Salesforce. He has helped secure over 400+ leading companies and was featured in Forbes 30 Under 30 Asia - Enterprise Technology in 2017.
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