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Mumbai-based startup Seclore, which offers digital rights management solution to organisations, has secured $12 Mn in Series B round of funding.
The round was led by led by Russian Conglomerate’s Sistema JSFC’s Sistema Asia Fund. Sistema JSFC had floated a proprietary $50 Mn (INR 340 Cr) Asia Fund in February, to support Indian startups operating in the technology and niche consumer retail segments.
The proprietary venture capital fund has provided funding as part of a four-member investor consortium, which included Helion Ventures, VentureEast and India Alternatives Private Equity Fund.
Founded in 2005 by IIT alumni Vishal Gupta and Abhijit Tannu, Seclore Technology, allows enterprises to embed security, privacy and compliance policies within information itself, in order to secure information shared externally. The company provides enterprise digital rights management (ERDM) solutions that help organisations to protect sensitive information from cyberattacks.
Vishal Gupta, co-founder and CEO of Seclore said that there had been an uptick in demand for EDRM as organisations are finding that persistent, granular file-centric security is the best defence against cyberattacks and other risks associated with sharing of sensitive information.
Seclore claims to have nearly 4 Mn users across 400 companies in 22 countries. It provides its flagship solutions to companies like ICICI Bank, HDFC, Kotak, L&T, Thyssenkrupp, among others.
Besides, Seclore has been awarded with accolades like being recognised by Gartner as a “Cool Vendor” and as one of the “50 Fastest Growing Technology Companies” by Deloitte. Seclore has also been a part of TiE’s Billion Dollar Babies Program and one of the startups in InTech50’s, first batch.
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