BluSapphire Cyber Systems, a cyber security platform, has raised a $9.2 million in Series A funding round led by Barings Private Equity India.
The round also saw participation from cross-border VC firm, Dallas Venture Capital, Binny Bansal-backed xto10x, RPG Ventures, and Merisis Venture Partners. BluSapphire is a cybersecurity SaaS platform, which solves the industry gap in security operations and visibility space, and prevents sophisticated cyberattacks across cloud, on-prem, and hybrid work environments.
“Building resilience against sophisticated cyber-attacks is the key to business survival. The capital will help us continue to build and grow our SaaS platform rapidly across North America and India,” said Kiran Vangaveti, Founder and CEO, BluSapphire Cyber Systems.
Commenting on the development, Shyam Penumaka, partner at Dallas Venture Capital, said, “BluSapphire’s Unified Platform’s capabilities go beyond XDR, and include threat detection and prevention in a proactive manner. The platform has acquired a reputed customer portfolio and has also built an impressive list of partners, including leading MSSPs both in India and the USA.”
Adding to this, Arul Mehra, partner, Barings Private Equity India said, “BluSapphire offers a full stack cybersecurity platform, which helps automate cybersecurity operations. The efficiencies offered by their platform can reduce SOC operating expenses by close to 70 per cent with cutting-edge detection and response times. Their product has strong validation from reputed defence and corporate sector clients and it has won various awards.”