WhizHack has raised $3 Mn in a Pre-Series A funding round at a valuation of $40 Mn
WhizHack will use the fresh capital to expand its products and services across new markets including North America, Asia Pacific and the Middle East
The startup claims to have grown by more than 200% in enterprise and consumer segments
Cybersecurity startup WhizHack has raised $3 Mn in a Pre-Series A funding round at a valuation of $40 Mn. The round was led by existing investors Vedswasti Holdings and SAA Capital.
WhizHack will use the fresh capital to expand its products and services across new markets including North America, Asia Pacific and the Middle East. It will also deploy funds for the development of its ‘ZeroHack’ platform.
Founded in November 2020 by Kaushik Ray, Sanjay Sengupta and Kallol Sil, WhizHack manages three divisions–ZeroHack, TRACE and Cyber Range. Under these divisions, it offers security solutions, builds security product IPs and offers a mix of online security training to business enterprises and students.
“Following rapid growth in both research and development as well as winning large scale customers that include Defence, Energy Sector and Universities, we are excited to emerge from stealth and champion the rising ecosystem security sector,” said Kaushik Ray, cofounder, WhizHack.
The startup claims to have grown its business by more than 200% in enterprise and consumer segments. As per the startup, its ‘ZeroHack’ platform has invested in building the Centre of Excellence (CoE) in IIT Jodhpur and NPTI (National Power Training Institute).
The three founders cumulatively have more than 100 years of experience in managing globaltech businesses and startups. In the last two years, 2022 and 2021, the startup secured $4 Mn funding from investors, as per Crunchbase data.
“WhizHack’s innovative vertically integrated play solves a critical need for both corporates and governments – cost effectively empowering own manpower and managing organisation security on an ongoing basis,” said Ashish Patil, managing partner, SAAA Capital.
In India, it competes with the likes of Kratikal, Hicube and Skylark, among others.
According to a Research and Markets report, the country’s cybersecurity market was valued at $2200 Mn in the financial year 2021. The industry is expected to become a $3,543 Mn space by FY27, growing at a CAGR of 8.05% by the forecasted period (FY23–FY27).
Some major developments in the cybersecurity sector include Silence Laboratories raising $1.7 Mn seed funding and SafeHouse Tech bagging $6 Mn Pre-Series A funding round.