Uniken, an enterprise security solution firm which enables enterprises to rapidly grow digital connections in secured environments, has raised $1.8 million from Exfinity Venture Partners.
With the fresh funding, the company is now planning for expansion and is also looking forward to establish itself in the US. It will invest in technology, brand and infrastructure to establish itself as market leader in India.
Sanjay Deshpande, CEO of Uniken, said,
Over the last year, we have made successful forays into the global markets and received endorsements for REL-ID in Israel and the US. With this partnership with Exfinity, we aim to make REL-ID a strategic asset for global enterprises to rapidly grow their digital business.
The company was founded by Sanjay Deshpande, Nanjundeshwar Ganapathy, Prakash Salvi and Nilesh Dhande in 2013 with an aim to enable fast growing enterprises accelerate their digital services delivery by protecting more than 10 million digital end-points. It provides digital solutions to thwart traditional security threats for enterprises.
It currently operates in India, Israel and the US. Earlier, in January 2014, the company raised Series A round of funding of Rs 30 crore from Nexus Venture Partners.
Uniken currently claims to have more than 2 million users who use the platform across 23 installations across India, including banks like ING Vysya Bank, Yes Bank, Axis Bank, Bank of India and State Bank of India.
Balakrishnan V, Chairman of Exfinity Venture Partners, said,
The increasing ferocity of cyber-attacks and the blurring of the lines between cyber security and our personal, financial and national security have led to an upswing in investment over the past two years. Uniken provides a digital connectivity and access platform that creates a private digital network of users, apps and devices. Exfinity’s philosophy is to back companies that create disruption and Uniken fits the bill.
While Indian corporates still do not give as much importance to enterprise grade security solutions as their western counterparts, enterprise security startups from India continue to rise up, primarily banking on western clients for their revenue.