Mobile Security Startup Wegilant raises $500000 from existing investors in Pre-Series A Round
Mobile Security Startup Wegilant announced an investment of USD 500,000 from existing investors in a pre-series A round from their existing investors.
The investors who participated in this round of funding included Ravi Gururaj – Chair NASSCOM Product Council, Gaurav Sharma – Director Yahoo Inc., Viswanath Ramachandran – Ex-Gupshup CTO, SINE-IIT Bombay Business Incubator, RippleWave and a strategic investor (a large global IT Security company).
Wegilant believes that with more and more brands moving to mobile only strategy, each major brand has a customer facing mobile experience which needs to ensure is secure for all its stakeholders. Mobile app security is no longer a luxury but an absolute necessity. With its innovative and robust products such as Blackhound and Appvigil– a cloud based mobile app security solution that scans mobile apps to identify security vulnerabilities and to recommend solutions to rectify the loopholes, the company assures that it can deal with the critical problems of mobile app security.
With this investment, Wegilant plans to expand their technical team to support their vision to expand their mobile app security solutions. In addition to that the startup further announced that they have set targets to expand their client base across India & overseas, with their foremost focus on enterprise companies and startups. The company further commented
Wegilant strives to become biggest mobile security solutions provider. To achieve this status our tech team is aggressively working to expand our solutions beyond mobile app security scanner.
On this development, Ravi Gururaj, Chairman NASSCOM Product Council said,
“Water tight security of your mobile device is no longer a luxury, it is an absolute necessity. News of security beaches are regular events, which I expect will increase in frequency and severity. Every major brand has a customer facing mobile experience which they now need to ensure is secure for all their stakeholders. Wegilant addresses this critical growing market need with very innovative and robust products. The Wegilant team exhibits winning combination of domain thought leadership and entrepreneurial passion.”
Wegilant was registered as a private limited company in November 2011 and is presently running with a staff of 22 at Mumbai and Gurgaon. The company started with a B2C model and shifted focus to B2B model by delivering Security Audit services to the corporate clients. Wegilant Founder, Toshendra started it with his own funds as seed capital. In their very first year they were able to generated revenue of Rs. 1.5 Crores.
Akash Boaz
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