Tata Capital Private Equity-controlled Tata Capital Fund invested $5 million in a SaaS startup (Software-as-a-service) Indusface to fuel its aims for an expansion on a global scale as well as accelerate opportunities for product innovation and development.
Indusface is already known to provide its service close to over 2000 active customers across the world and their expertise lies in providing a cloud-based security platform for its client’s applications.
About the company
Indusface is a California-based SaaS (Software-as-a-service) startup, which also has branches across four locations in India. It provides application-based security for its humongous clientele, amounting to over 2,000 active customers across the world.
The firm specializes in providing a cloud-based security platform using its patented web-application-based security scanning system and a dedicated firewall which has been coagulated together to form a threat information database engine on a global scale, with security experts at the helm of this system.
The current dynamics following the fundraiser
After the investment round, Pramod Ahuja- a partner at Tata Capital Fund, will join as a member of the board for Indusface.
The founder of Indusface, Ashish Tandon, stated that with the recent upsurge in the demand for digitization of businesses using cloud-based technology and security application functions. This upsurge will fuel the demand for their product among the clients in need of convenient business solutions.
TCGF 2, under which Tata Capital Fund is raising its investment on Indusface, is solely focussed on the modernization of urban realms, innovative manufacturing technologies and strategy-based services. This fund currently invests in rounds worth between $10 million and $35 million on an average.
Since the rise of automation in businesses to increase productivity, companies are now turning to cloud-based applications to make their life easier. This is where companies like Indusface jump in, facilitating security of digitally-managed systems and production. With stalwarts from Tata serving as mentors and benefactors, this startup has a major prospect of witnessing a meteoric growth in the future.
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