Wegilant, a startup developing cloud-backed solutions for providing security to mobile devices on dev end, has raised $500K (about 3.5 crores) from existing investors in order to reach more customers, expand the technical team and diversify their offering to iOS and Windows phone OS in addition to expansion in the existing android.
The investors include Ravi Gururaj-Chair NASSCOM Product Council, Gaurav Sharma-Director Yahoo Inc., Viswanath Ramachandran-Ex-Gupshup CTO, SINE-IIT Bombay Business Incubator, RippleWave and an unnamed global IT Security company.
Founded by Toshendra Sharma an year ago, Wegilant got incubated in Society for Innovation and Entrepreneurship (SINE), IIT Bombay last year in August and was also nominated in the top 10 of Emerge 50 Award 2014- an award given by Nasscom. It raised $160000 in angel funding round in December last year.
The flagship product of Wegilant is AppVigil, an Android App Security Scanner used to help developers and enterprises to find and fix critical bugs in their mobile apps. It is based on cloud platform which can be integrated into any part of app development process without exposing the source code. It also allows android users to find which of their apps are hack able.
Through the app, users can scan any app in their device on the cloud based server for security checks. Appvigil rates each app in the phone with a unique Vigil Score based on how secure it is, so that users can timely get rid of unsafe apps. They can also take action by reporting the vulnerable app to its respective developer asking him to fix the issues for everyone’s safety.
Since number of android users is increasing exponentially, the need for comprehensive security platform is absolutely critical for organizations and to provide the same, Wegilant aims to become biggest mobile security solutions provider.
Water tight security of your mobile device is no longer a luxury, it is an absolute necessity. Every major brand has a customer facing mobile experience which they now need to ensure is secure for all their stakeholders. Wegilant addresses this critical growing market need with very innovative and robust products,
said Ravi Gururaj, Chairman, Nasscom Product Council.
Company CEO Toshendra Sharma says that AppVigil’s USP is their platform’s rapid response in reporting critical bugs, taking around an hour, as compared to 2-3 hours by its traditional competitors.
Comprising of some of the best minds from IITs and NITs and people from prominent startups such as Housing.com as senior management, Wegilant is right now on a hiring spree and has already expanded their team from 11 to 22 in addition to setting up an office in Gurgaon apart from Mumbai to expand their business.
Reportedly, the company is already in talks with VC firms for the third round of funding which is estimated to be around $3-4 million. Sharma however refused to reveal any details about it.