Tuesday, 30 July 2024, Bangalore, India
WhizHack is a cyber security startup that secured $3 million From SAAA Capital in its pre-series A funding round. The funding round was held at a valuation of $100 million. Sandpiper Ventures, and family offices. The company plans to use these fresh proceeds to expand its services, develop its market presence, and enhance its technologies.
A portion of this investment will be used to charge its research and development by collaborating with universities in India and the US. The startup uses artificial intelligence-based technologies to offer security solutions and develop security product LPs while providing online security training to students and enterprises.
The startup addresses cybersecurity concerns by identifying threats and issues and offering solutions. The company was founded by Kallol Silm Kaushik Ray and Sanjay Sengupta. WhizHack manages three branches, including ZeroHack, TRACE, and Cyber Range. The application allows organizations to develop a scalable production of cyber security systems to manage cyber-attacks.
The startup plans to raise a series A funding round next year. The startup secured $3 million in its pre-series A funding round at a valuation of $40 million in 2023. The company wants to improve its cyber security operations and enable more accurate responses to cyber-attacks.
The cyber security startup claims to have a 200 percent annual increase in its business growth from enterprises and government clients. The firm also reported a 50X increase in its shareholder value in the past three years. The founder of WhizHack, Kallol Sil, mentioned that this investment would help the company expand its services in the European and North American markets.
The managing director of SAAA Capital highlighted that the startup showed exceptional growth in its in-house development of cyber security services that compete with global players. WhizHack provides an AI-based platform that offers cyber-attack predictive analytics solutions.
The company intends to increase its performance capability, and it is already working on expanding into the US market. The startup wants to offer innovative cybersecurity solutions and reach more people globally. The startup faces competition from other cybersecurity companies such as GardaWorld, and Coalfire. This development came just when these cybersecurity startups started gaining increased investor interest. The company has partners, including tech giant Microsoft, the Data Security Council of India, the National Power Training Institute, and several IITs.
Conclusion
WhizHack is a cyber security startup that secured 3 million USD in its pre-series: A funding round from SAAA Capital at a valuation of $100 million. The company offers an artificial intelligence-powered platform that offers cybersecurity solutions and online training to tackle cyber risks. The startup develops security product LPs and collaborates with institutions and businesses to provide online security training to students and workers.
The startup intends to use this fresh capital to enhance its AI Capability and expand in the European and North American markets. The firm aims to create secure and strong artificial intelligence-based cybersecurity solutions to work against cyber crimes.
