WhizHack, a vertically integrated ecosystem security pioneer, today announced it has raised USD 3 million as Pre-Series A funding round by its existing investors Vedswasti Holdings, Netherlands and SAA Capital, Singapore at a valuation of $40 million. Founded in November 2020, WhizHack has grown its business from both Enterprise and Consumer segments by over 200% and shareholder value by over 20 times in less than 2 years. Vedswasti Holdings and SAAA capital are growth funds that invest in Deep Tech companies.
WhizHack was founded by 3 industry veterans, collectively having over 100 years of managing global tech businesses and start-ups. The company has 3 divisions – building security product IPs, providing global managed security services and providing an entire mix of scalable security training for empowering enterprises and students. WhizHack’s “Made in India” Threat Detection Platform TRACE™ is being used by leading Defence, Power, and Education Institutions in India to monitor and predict advanced cyber-attacks.
WhizHack will use the new capital to expand its products and services across new markets including North America, Asia Pacific and Middle East and also expand and accelerate product development of its ZeroHack™ Platform. ZeroHack™ is a breakthrough triple engine platform using Signature, Artificial Neural Networks and Machine Learning that automates identification and neutralization of existing, zero day and future attacks across enterprises. It is also investing towards building Centre of Excellence (CoE) in IIT Jodhpur and NPTI (National Power Training Institute) towards research in Cyber Physical Systems and Energy sector, respectively. WhizHack has developed product and services capabilities in the highly complex area of OT security.
“Following rapid growth in both research and development as well as winning large scale customers that include Defence, Energy Sector and Universities, we are excited to emerge from stealth and champion the rising ecosystem security sector,” said Kaushik Ray, Co-founder, WhizHack. “We appreciate our existing investors in reposing faith in investing in WhizHack for developing a cyber secure ecosystem combining trained manpower and managed automated defense. Cyber Security has largely remained the realm of select countries and we believe WhizHack’s pathbreaking “Made in India for the World” portfolio will allow emerging countries and enterprises to become self-reliant in cyber defense.”, he added.
“WhizHack’s innovative vertically integrated play solves a critical need for both corporates and Governments – cost effectively empowering own manpower and managing organisation security on an ongoing basis. We are thrilled to re-invest in WhizHack’s impressive journey and excited to see the company lead this growing market with new, innovative products and services and access new unaddressed markets.” said Ashish Patil, Managing Partner, SAAA Capital.
“Vedswasti Holdings is excited to again participate in funding of WhizHack in it’s ambitious mission to mitigate global security vulnerabilities across developing and developed economies,” said Simanta Das, Managing Partner of Vedswasti Holdings. “WhizHack is also unlocking huge value through large scale tech led training to empower and deploy next generation cyber warriors and create self-sustainable ecosystem and we are thrilled to continue to invest in this growth chapter”, he added.