Cybersecurity Startup PingSafe Raises $3.3 Mn In Seed Funding
PingSafe, a cybersecurity firm, has raised $3.3 million (Rs 27 crore) in a seed funding round led by Peak XV Partners’ Surge.
Tanglin Ventures and angel investors Rahul Chari (PhonePe), Saurya Prakash (Recko), Neeraj Arora (ex-WhatsApp), Vivek Ramachandran (SquareX), and Gaurav Agarwal (Tata 1mg), also participated in the funding round.
As per the startup, the freshly raised funds will be used to expand its presence across the US as well as India.
PingSafe | Cloud Security Platform
Founded by Anand Prakash and Nishant Mittal, PingSafe helps businesses across various sizes and verticals transform cloud security and eliminate all hidden and exploitable vulnerabilities at blazing-fast speed and scale.
The San Francisco and Bengaluru-based startup helps secure cloud environments for organizations across various hyper scalers like Google Cloud Platform (GCP), Amazon Web Services (AWS), Azure, and various deployments like Kubernetes and serverless.
Speaking about the development, Anand Prakash, Co-founder of PingSafe, said,
“Having discovered critical vulnerabilities in leading companies, we understand the mindset of hackers. At PingSafe, we incorporate this perspective into our cloud-native application protection platform (CNAPP) by adding capabilities like the offensive security engine that identify the most critical vulnerabilities and provide proof of exploitability, reducing the overhead of security teams.”
As per Anand, with the cloud security market evolving from point solutions towards context-aware platforms, PingSafe’s CNAPP platform is the next evolution in providing more comprehensive cloud security to organizations.
Its CNAPP platform helps identify the most critical vulnerabilities within a tech stack by imitating attacks from hackers. Powered by the Offensive Security Engine, the cybersecurity startup helps security teams prioritize and focus only on the issues exploitable by the attackers.
With increasing cybersecurity risk faced by clients as they move to the cloud and the Indian government bringing new regulations like Digital Personal Data Protection (DPDP) into law, PingSafe is well positioned to serve the Indian cloud security market needs.
The cybersecurity firm counts Razorpay, Flipkart, Near Intelligence Inc., Ujjivan Bank, Skyflow, SBI General Insurance, Recko (a Stripe Company), and others as part of its client portfolio.
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