Cybersecurity Startup SquareX Raises $6 Mn In Seed Funding
SquareX, a cybersecurity startup, has raised $6 million (Rs 49.2 crore) in a seed funding round from Sequoia Capital Southeast Asia.
As per the startup, the freshly raised funds will be used for research & development (R&D) and for launching its products. The raised funds will also be used to make a browser-based cybersecurity product.
SquareX | Be Fearless Online
Founded by Vivek Ramachandran, SquareX offers browser-based cybersecurity solutions to keep consumers safe online. It offers a purpose-built security plug-in that integrates seamlessly with web browsers.
Speaking about the development, Vivek Ramachandran, Founder, SquareX, said,
“By creating a seamless, browser-integrated cybersecurity solution, we are empowering consumers to be fearless online and take control of their own security on the internet. We believe that a safer internet experience is not only possible but essential, and SquareX is dedicated to making it a reality for everyone.”
In the Cloud-SaaS era, web browsers have become the primary tool for online activities, but they are also targeted by attackers, leading to new threats like phishing and identity theft. Existing cybersecurity products are ineffective against these browser-based attacks and often hinder productivity, leaving users feeling unsafe online and vulnerable to attacks.
SquareX is a purpose-built cybersecurity product that integrates as a browser extension. It monitors and protects users while they browse by leveraging its cloud service. Its product leverages cloud services to monitor and safeguard users during their online activities, allowing users to open links and files within disposable browsers and providing protection against potential threats.
Commenting on the development, Anandamoy Roychowdhary, Partner Surge, Sequoia Southeast Asia, said,
“Every cyber security solution out there is only probabilistically successful in protecting internet users, which is not of much comfort if they get hacked and lose money. SquareX is the first solution we’ve seen that takes a 100% protection approach – where irrespective of how new and sophisticated the attack is, it has no chance to infect users. This is the future we think all internet users deserve.”
The cybersecurity startup will be launching a beta version of its solution for a limited set of users beginning in May this year.
In February 2023, FireCompass, a cybersecurity startup, raised $7 million (around Rs 57.9 crore) in a funding round co-led by Cervin and Athera Venture Partners (formerly Inventus Capital).
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