Tata Capital backs Indian data security platform
Tata Capital has participated in a Series A round of funding for enterprise file sharing and sync (EFSS) and mobility vendor Vaultize. Financial terms were not disclosed, but the Tata Capital Innovations Fund aims to invest $4–10 million in companies with revenues under $20 million.
Tata Capital partners Mohan Harshey and Vineet Chadha have joined the company board.
Started in 2010, Pune-headquartered Vaultize provides a secure enterprise-grade platform for file sharing, endpoint protection through backup and encryption, Google Apps backup and enterprise mobility.
The company is targeting medium and large enterprises seeking to manage data loss, security and compliance risks. It has presence in more than 30 countries including the US and Europe, through its channel network consisting of resellers, distributors, system integrators and managed service providers (MSP). Partners include NEC, Mahindra Satyam and Tech Mahindra.
The funding will help the company scale up its go-to-market strategy, including expansion in the US and Europe in conjunction with channel partners. The company will also use the funds towards building its sales, marketing and engineering teams.
"Data security and privacy are currently the key concerns of any organization's IT team. Use of consumer cloud services, workforce mobility and the trend of BYOD are likely to increase the concerns even further. Vaultize comes at the right time to address these pain points," said Harshey.
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