Indian Angel Network (IAN), world largest business angel group, has made an undisclosed investment in Bangalore-based InstaSafe, a Cloud based Security solutions provider that helps mobile remote workers securely access enterprise apps, email and web on a SaaS model. Vishal Khare and Alok Agarwal have led this round on behalf of IAN. This has been co-invested with CIO Angel Network (CAN).
Founded by Sandip Kumar Panda, Biju George, Prashanth Guruswamy Deepak Panigrahy in Nov 2012, InstaSafe has built a cross functional team with deep business technical domain expertise. Prior to founding InstaSafe, Sandip was with Blue Coat Systems, leading India SAARC markets. He has also worked with Symantec WeP (Wipro) where he led product businesses multiple cross functional leadership roles.
Sandip Kumar Panda, founder and CEO, InstaSafe said, We have had an experiential journey with our group of Angel Investors providing a huge validation to the Instasafe product. At InstaSafe, it our mission is to make organizations more safe, secure productive by leveraging the power of the cloud. We believe our platform can become the trusted cloud-based security layer globally that spans organizations, applications and devices to enable users to get work done more safely, efficientlymdash;when, where and how they want. We believe that InstaSafe has the potential to emerge as global company out of India.
With a focus to expand sales marketing efforts and product engineering, the funding will be deployed to further develop the product features and hiring talent.
Vishal Khare, Lead IAN investor commented on the investment saying, We saw a great potential for growth and scope for expanding InstaSafe cloud based offering to many valid use cases in near future.
Under the mentorship of Sanjay Mehta, InstaSafe has won CIO Choice Awards for Cloud Security and the IBM Global Entrepreneurship award. Some of its prominent clients include the AV Birla Group, Asian Paints, DTDC Courier Cargo, Pidilite and Kirloskar who use InstaSafe Secure Access to securely connect to their mission critical enterprise apps to thousands of distributed remote mobile workers. Typical Use cases of InstaSafe include, secure mobile remote access to On-premises or cloud applications, encrypted access to build a private virtual network across multiple public/private clouds and web security for mobile workers.
The cloud and as-a-service delivery models are transforming the IT landscape and we see tremendous opportunity in the rapidly-growing cybersecurity industry. InstaSafe Security-as-a-Service model is disruptive and holds global potential, said Anthony (Tony) Thomas, from CIO Angel Network.
Unlike appliance based solutions InstaSafe offers a hardware free, zero configuration, self-service style, fully redundant Security-as-Service which could be deployed in minutes with comprehensive reporting. With security emerging as a focus area for companies across the globe, InstaSafe solutions are set to disrupt the traditional Cyber Security market by bringing Cloud delivered Security-as-Service solutions, which are simple, flexible affordable.
InstaSafe is supported by Microsoft Ventures Citrix Innovators Program. It received financial assistance as part of the Citrix Accelerator Innovators Program in March 2015.
InstaSafe, incubated out of Microsoft Ventures Accelerator, brings about a paradigm shift in the way secure access is delivered, by leveraging the cloud. Businesses require their employees to be Omni-productive and their applications to be Omni-present, yet keep them secure. Traditionally, Cyber Security solutions are focused on an exorbitant Capex budget to buy legacy appliances and service contracts, not to mention the need for highly trained IT personnel. InstaSafe changes it all, with its simple, self-service style delivery of Cyber Security, delivered through the cloud. Visit www.instasafe.com for more updates.
About Indian Angel Network
The Indian Angel Network; is world largest Business Angel Group, with over 350+ investors from 10 countries, IAN presence spans 7 locations, which includes cities in India, and UK and has invested in startups from diverse industries/sectors. The investor group comprises of the who who; of successful entrepreneurs and CEO, who not only invest their monies, but also provide valuable inputs on strategy and execution in inventive startups. They also create a platform to access their vast business networks to help these businesses scale and grow. IAN is also the world first angel investor group to establish operations outside of its home country, in London.
IAN looks at around 4,000 entrepreneurs each year, invested in 29 ventures in 2014 and has an overall portfolio of 100 odd companies in 16 sectors in 7 countries. IAN portfolio companies have given 70x returns in 6 years, 21x in 30 months, 22x in 60 months and 6x in 15 months; with ventures such as Druva, Stayzilla well on their way to become unicornswww.indianangelnetwork.com