PingSafe, the cybersecurity startup co-founded by ethical hackers Anand Prakash and Nishant Mittal, has successfully raised $3.3 million in seed funding. The funding round was led by Peak XV Partners (formerly Sequoia India) and attracted participation from several other investors, according to various media reports.
Among the investors who participated in this funding round were angel investors such as Rahul Chari (PhonePe co-founder), Neeraj Arora, Saurya Prakash, Vivek Ramachandran (SquareX Founder), Gaurav Agarwal (Tata 1mg co-founder & CTO), and the early stage VC firm Tanglin Ventures.
Cloud security startup PingSafe has announced that the recently raised funds will be utilized to bolster its global business development efforts, with a specific focus on the US and South-East Asian markets. The company is well-positioned to address the increasing demand for cloud security solutions, especially with the Indian government implementing new regulations like Digital Personal Data Protection (DPDP) law and clients facing heightened cybersecurity risks during their cloud migration.
This funding round marks the second investment for Peak XV (formerly Sequoia India) since its rebranding. Last month, Peak XV invested $10 million in Bengaluru-based spacetech startup Digantara.
Established in 2021, PingSafe is a cloud security platform equipped with extensive knowledge of attackers’ modus operandi. It provides businesses of all sizes and verticals with transformative cloud security solutions, claiming to eliminate all hidden and exploitable vulnerabilities swiftly and at scale.
Anand Prakash, the Co-Founder & CEO of PingSafe, is a renowned white hat hacker, earning recognition as one of the top 5 bug bounty hunters by prominent companies like Meta, Uber, Twitter, LinkedIn, and Salesforce. His expertise has helped secure over 400+ leading companies, and he was featured in Forbes 30 Under 30 Asia – Enterprise Technology in 2017.