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TAC Security, a cyber security consulting and risk assessment firm, is eyeing a turnover of $1 billion (₹7,300 crore) over the “next five years” (by 2025). Business growth is expected on the back of the company expanding its range of offerings and increasing its geographical presence.
According to Trishneet Arora, Founder & CEO, TAC Security, the company has been witnessing a near-300-per-cent growth in turnover over the last few years. It is hopeful of maintaining the revenue growth rate over the next five years.
Increase in revenue has also been marked by addition of new customers. In FY19, it added 20 new customers, while for the 10-month period of FY20, it has added 15-odd new clients. The company is hopeful of maintaining 100-odd customers by the end of this fiscal, he said. TAC Security claims to have a “high” customer-retention rate of 99 per cent.
“Revenue growth has been between 270-300 per cent year-on-year, and we are hopeful of maintaining it for the next five years. This should help us clock a turnover of $1 billion by 2025. In terms of customers, we should have around 150-200 companies on-board with us by December 2020,” he told BuinessLine .
TAC Security, primarily boot-strapped, did not share turnover details, but Arora maintains that the company is “EBITDA positive” (earning profit before accounting for interest, tax, depreciation and amortisation). “The last two years have been good for us, being EBITDA positive during this period. We are on course to be profitable for the current fiscal too,” he said.
The vulnerability management segment is estimated to be a $18-20 billion market globally. “Even if we get 5 per cent of this market, we will have a turnover of $1 billion,” Arora claimed.
TAC Security, a seven-year-old company headquartered out of Mumbai, offers protection of cyber assets and conducts vulnerability assessment of companies to cyber attacks. It has worked with Fortune 500 companies and is also one of the Empanelled Cyber Security Auditors for the Union Government (managing UPI and NPCI).
Globally, the company has presence in Singapore, UK, USA, and the Middle East.
According to Arora, new products are also being explored as the company plans greater presence in these overseas markets. Hiring will also be increased with the team strength going up to 100 (from the existing 70).
“We are not very keen on funding at the moment,” he said, adding that an IPO could be looked at once the $1 billion turnover target is achieved.
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