When Vishal Gupta started Seclore, an enterprise security company in 2010, investors and customers were apprehensive. There was till then no established model of an Indian software provider in the cybersecurity space. “We had trouble establishing trust,“ Gupta recalls.
Today, Gupta says, the environment has dramatically changed. Out of the 29 funded startups in the cybersecurity space, 12 have raised funding in 2015 and 2016, according to startup analytics firm Tracxn. Some 27 new companies came up in this space in the same period.
Much of this is driven by large-scale data breaches across sectors. “Even five years ago, security used to be a subfunction of IT. It wasn’t something which would get reported in the top management. Now, information security is becoming a boardroom topic. When you lose information, it is not just about embarrassment anymore. You lose money , customers, and even lives. Acknowledgement of that implication has made budgets and investor interest shoot through the roof,“ says Gupta.
#CyberSecurity #InformationSecurity #DigitalAssets #India #Investment #Finance #Startup #Start-up #Business