Indian cybersecurity provider Network Intelligence Inc (NII) has raised Rs 33 crore (approximately $4.8M) in funding from private equity firm Helix Investments. According to a joint statement, the investment brings NII’s value to 155 crore (approximately ($22.7M).
The company, founded in 2001, is a value-added reseller offering information security services, consultancy, and solutions from partners such as McAfee, Imperva, Cyber-Ark and Fortinet. It also offers two proprietary solutions (firewall rulebase analysis solution Firesec and vulnerability management platform InSight).
“The cybersecurity market is booming, and we want to be well-positioned to meet the demand,” said CEO Kanwal K Mookhey. “Helix Investments is committed to supporting our opportunity in cybersecurity services, while at the same time investing in security product development.”
The cybersecurity market is booming, and we want to be well-positioned to meet the demand
– Kanwal K Mookhey, CEO, Network Intelligence Inc
NII has 450 employees, with operations centres in Mumbai and Dubai serving customers around the world. Further operations have recently been established in the US (where the company is registered as Network Intelligence LLC) and Singapore.
“We are going to deploy the funds for two purposes – expanding to the US and Europe and to enhance product development initiatives,” said Mookhey.
“The whole market growth rate we are seeing not just in India but globally in the cybersecurity domain prompted us to invest in the company,” said Varun Didwania, a director at Helix Investments. “With the fast pace of digitisation that has happened in India, the need for cybersecurity services is only going to go up. With KK (Mookhey) and his company, we found the right mix.”
David Danziger, another director at the company, added: “We have been following the cybersecurity market for some time, and when we spoke to NII’s clients, we heard tremendous enthusiasm for its work.”