Bengaluru-based bot mitigation and management startup ShieldSquare has raised an undisclosed amount of Series A funding in a round led by Endiya Partners and RPG Ventures. Anthill Ventures and existing investors Startupxseed, Venture Highway and a few angel investors also participated in the round.
In the official statement, the startup revealed plans to use the newly-secured financing to strengthen its bot mitigation technology platform. A portion of the funding will also go into expanding its market presence across the US and Europe.
Commenting on the fundraise, Endiya Partners Director Abhishek Srivastava said, “The application security market continues to evolve, responding to proliferating advanced automated attacks (via web/mobile/API abuse) and its growing business and political ramifications. ShieldSquare’s differentiated and non-intrusive bot mitigation technology, backed by advanced Machine Learning models, puts it in a driving position to address this global problem at scale.”
Endiya Partners is an early-stage venture capital fund that invests in innovation led product startups based in India. The firm’s portfolio consists of disruptive startups across technology, healthcare and consumer sectors.
As the venture arm of $3 Bn RPG Group, RPG Ventures serves as an incubator and early stage investor in futuristic businesses within the technology, healthcare and consumer sectors. So far, the firm has backed businesses in the elderly care products, online consumer and cybersecurity areas.
Sharing his views of the latest funding round of ShieldSquare, RPG Ventures Head Kunjan Chikhlikar added, “We are particularly impressed with the team and their ability to build a world-class product and get traction from leading brands globally.”