SquareX, promoted by serial cybersecurity entrepreneur, Vivek Ramachandran, has raised $6 million in a seed round led by Sequoia Capital Southeast Asia. The company said it will use the proceeds on R&D and go-to-market initiatives.
The Singapore-based firm is developing a browser-based cybersecurity product to keep consumers safe online.
“In today’s Cloud-SaaS era, the landscape has shifted significantly as professionals primarily use web browsers for all their online activities – checking mail, creating documents, uploading/downloading files, streaming content, banking, and e-commerce,” a company statement said.
“With the browser becoming the new operating system, attackers are targeting them, introducing an entirely new range of threats, such as phishing, identity theft, session hijacking, and other browser-based attacks,” it said.
It contended that the existing generation of cybersecurity products is ill-equipped to combat these threats, as they were designed at a time when the primary threats were file viruses, worms, and network attacks.
“These products also often hinder productivity by blocking access to files and resources that may not actually be malicious, leading users to disable or uninstall them, and leaving them more vulnerable to attacks,” it said.
“We are addressing this problem by engineering a cybersecurity product from the ground-up, purpose-built to tackle the current generation of threats,” as per a statement on Wednesday.
The company’s solution is integrated with the browser as an extension and monitors and protects users, while they go about their online activities.