by PingSafe, a Bangalore-based cybersecurity startup, has raised $3.3 million in seed funding led by Peak XV Partners. The round also saw participation from angel investors including PhonePe co-founder and CTO Rahul Chari, SquareX founder Vivek Ramachandran, Tata 1mg co-founder and CTO Gaurav Agarwal, and others.
Founded in 2022 by Anand Prakash and Nishant Mittal, PingSafe offers a cloud-based platform that helps businesses detect and prevent security vulnerabilities in their infrastructure. The platform uses artificial intelligence and machine learning to scan for vulnerabilities and provide recommendations on how to fix them.
PingSafe’s customers include startups, small businesses, and large enterprises. The company plans to use the funds raised in the seed round to expand its product offerings, grow its customer base, and hire more employees.
“We are excited to partner with Peak XV Partners and other investors,” said Anand Prakash, co-founder and CEO of PingSafe. “This investment will help us accelerate our growth and reach more businesses around the world.”
Peak XV Partners’ managing partner, Amit Jain, said, “We are impressed by the team’s vision to make cloud security accessible to everyone. We believe that PingSafe has the potential to become a leading player in the cloud security market.”
PingSafe’s funding is a sign of the growing demand for cloud security solutions. The cloud is becoming increasingly popular, and businesses are increasingly reliant on it. This makes it more important than ever for businesses to have a secure cloud environment. PingSafe is well-positioned to capitalize on this trend, and the company’s funding will help it reach more businesses around the world.
