Mobile app cybersecurity firm Protectt.ai has raised Rs 76 crore in a Series A funding round led by Bessemer Venture Partners. The investment will be used to enhance the company’s AI-driven security solutions, develop new AI security capabilities, expand globally in the US, Middle East, and APAC, and strengthen its cybersecurity talent pool.
From what is understood, Protectt.ai provides a suite of mobile security solutions designed to protect applications from evolving cyber threats and fraud. The platform also acts as a compliance hub for mobile app owners, ensuring adherence to regulatory requirements set by entities like RBI, SEBI, and NPCI. Through continuous monitoring of defence configurations, threat events, and security postures, the company facilitates seamless audits and regulatory compliance while offering visibility into the mobile app ecosystem, the company stated.
“With the rapid surge in mobile cyber threats, the need for advanced security solutions has never been greater. Protectt.ai is committed to building cutting-edge AI Powered mobile App Security solutions that safeguard businesses and consumers alike. This investment will enable us to enhance our technology, scale our operations, and expand into new geographies, reinforcing our position as a leader in mobile app security ensuring hyper-growth,” Manish Mimani, founder and CEO, Protectt.ai, said.
Furthermore, the company claims that with coverage extending to over 300 million smartphones and processing more than 2 billion mobile app sessions monthly, Protectt.ai prevents approximately 200 million cyber threats and fraud incidents each month. Its solutions are widely adopted by banking, insurance, NBFCs, fintech firms, stock exchanges, and government mobile applications.
“Cybersecurity is a core area of focus for us and Protectt.ai has demonstrated a strong ability to tackle evolving cyber threats through AI-first security solutions. As mobile usage continues to rise, so do threats. Securing digital transactions and applications therefore has become a critical priority across industries. Protectt.ai’s innovative approach, coupled with its rapid growth trajectory, makes it a promising leader in the mobile threat defence space. We are excited to support them in their next phase of expansion,” Vishal Gupta, partner, Bessemer- India, said.