The US-based security startup Securden Inc. raised $10.5 million in a Series A investment led by Tiger Global. The investment round has also seen participation from Together Fund and Securden's existing investor, Accel.
The fund will be used to scale research and development, and the sales and marketing operations, said the startup. The company also plans to grow the team across streams globally, and expand its product portfolio.
Founded by Bala Venkatramani and Kumaran Balan in Chennai, Securden is an IT security startup focusing on Access Security and Governance across IT, DevOps, and Cloud environments. The company serves organisations from Small and Medium-sized Businesses (SMBs), and large enterprises, to Fortune-500 companies.
“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, which is both simple and affordable,” said Venkatramani.
The investment round follows Securden’s revenue growth and
rapid customer adoption across 26 verticals over the past year, informed the company in its release.
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Founded in 2018, Securden aims to solve the fundamental IT infrastructure access security challenges faced by IT, operations, and security teams by preventing cyber attacks, insider exploits, and malware propagation.
Earlier in 2020, the company raised $1.2 million in a seed investment round led by Accel with participation from Girish Mathrubootham, Founder and CEO of Freshworks, among others.
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Macro trends like digital transformation, large-scale cloud, DevOps
adoption, IoT, and remote work are creating several human and
machine identities, and hence a complex web of access and privileges.
Mismanagement of these causes a majority of security breaches, including identity thefts, malware or ransomware propagation, and insider
exploitation. As a result, securing identities, controlling access, and continuously monitoring privileges have become the foundational elements of information security.
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