Network Intelligence, a Bengaluru-based cybersecurity services company has managed to acquire Rs.33 crore funding from Helix Investments, a private equity firm. This makes the company valuation more than Rs.155 crore. According to sources the funds will be utilized for mainly expanding operations in the US and Europe.
KK Mookhey, CEO of Network Intelligence said, “We are going to deploy the funds for two purposes- expanding to the US and Europe and to enhance product development initiatives. Around 60% of our revenues are from the BFSI sector and the rest from critical infrastructures like oil and gas and also from IT.”
The company was incorporated in July 2001 and claims to provide information security consultancy to industry leaders across the globe. It has its clients in banking and financial services, software services, pharmaceutical, e-commerce and many more sectors.
Network Intelligence offers two primary programs: Firesec, which analyses firewall for enterprises, and InSight, which is a machine learning based platform for security. With 450 employees, it has its offices in New York, Singapore, Dubai, Mumbai, Delhi, Pune, and Bengaluru.
Network Intelligence has some solid collaborations with big players like IBM, HPE, Microsoft, and others. With emerging cyber threats on a daily basis, investors are paying a close attention to cybersecurity services across the globe. The cybersecurity ecosystem has experienced companies like Fortinet, FireEye, Symantec along with young startups like Lucideus, AppsPicket and others.
On this recent investment, Varun Didwania, director at Helix Investments, said, “The whole market growth rate we are seeing not just in India but globally in the cybersecurity domain prompted us to invest in the company. With the fast pace of digitization that has happened in India, the need for cybersecurity services is only going to go up.”