Protectt.ai Secures $8.7 Million in Series A Funding to Advance AI-Driven Mobile App Security

Protectt.ai Bags INR 76 Cr To Help Enterprises Protect Apps Against Cyber Fraud

The startup claims to cover over 300 Mn smartphones and process 2 Bn mobile app sessions per month while preventing 200 Mn cyber threats and fraud attempts Mobile app security startup Protectt.ai has secured INR 76 Cr (about $8.7 Mn) in a Series A funding round led by Bessemer Venture Partners. The company plans to use the fresh capital to enhance its AI-driven mobile security platform, develop new AI security solutions, expand internationally in the US, Middle East & APAC and hire cybersecurity talent. Founded in 2020 by Manish Mimani and Mohanraj Selvaraj, Protectt.ai provides mobile threat defence solutions, helping businesses safeguard apps against cyber threats and fraud. Its platform also acts as a compliance hub for mobile app owners, ensuring adherence to regulations from entities such as RBI, SEBI and NPCI. The company claims its technology monitors security configurations and threat events in real time, enabling seamless audits and regulatory compliance. The startup claims to cover over 300 Mn smartphones and process 2 Bn mobile app sessions per month while preventing 200 Mn cyber threats and fraud attempts. Its solutions cater to banking, fintech, insurance, NBFCs, stock exchanges, and government apps. "This investment will enable us to enhance our technology, scale our operations, and expand into new geographies, reinforcing our position as a leader in mobile app security ensuring hyper growth." said Manish Mimani, founder and chief executive of Protectt.ai. The development comes at a time when many players in the cybersecurity space in India are making their move to get an edge over their rivals. For instance, cybersecurity firm Astra Security raised $2.7 Mn in a funding round led by Emergent Ventures in February this year. Meanwhile, TAC Security, which is aggressively expanding overseas, is planning to acquire Greece-based Web3 security company CyberScope to strengthen its presence in the Web3 security sector. The acquisition is expected to contribute $1.2 Mn in revenue to its growth strategy, according to the company. Additionally, TAC Security has broadened its global reach by establishing a UK-based subsidiary, VULMAN Ltd, to provide cybersecurity solutions in the UK and Europe. Similarly, WhizHack, another cybersecurity startup, secured $3 Mn in a Pre-Series A funding round last year and aims to raise additional Series A funding in early 2025 as part of its expansion into North America and Europe. Notably, a report by cyber intelligence firm CloudSEK said that India ranked as the second most targeted country for cyberattacks worldwide, with 95 Indian entities falling victim to data breaches in 2024.

Protectt.ai Secures INR 76 Crore in Series A Funding to Advance Mobile App Security Solutions for Critical Mobile Apps

Protectt is a leader in the mobile app security space Series A round led by Bessemer Venture Partners New funds to be utilised for product development, customer experience enhancement and international expansion Protectt.ai, a leader in the mobile app cybersecurity & fraud control platform, today announced it has raised INR 76Cr in its Series-A funding round led by Bessemer Venture Partners. The funds raised will be utilized to enhance AI-driven mobile app security solution platform, accelerate product innovation, build new solutions for AI Security, nurture niche talent in Cyber security, and support its global expansion initiatives in the US, Middle East & APAC. Protectt.ai offers a comprehensive suite of mobile app security solutions, designed to safeguard mobile apps from emerging cyber threats & frauds. It also serves as a global compliance hub for mobile app owners who need to comply with regulations from entities such as RBI, SEBI, NPCI and other regulatory bodies. This ensures alignment with international security standards by continuously monitoring defense configurations, threat events, and security postures. This enables seamless audits, regulatory adherence, and full visibility into the mobile app user journey. Protectt.ai has established itself as a leader in AI powered mobile security by covering over 300 Mn+ smartphones, processing approximately 2 Bn+ mobile app sessions every month while preventing 200 Mn+ cyber threats & frauds events every month. Its solutions are trusted by banking, insurance, NBFC, fintech, stock exchange & government mobile apps. Recognized for its innovation, Protectt.ai has won multiple industry accolades such as DSCI Innovation Box winner 2023, BW Security Cyber Security Company of the year 2023, Banking Frontiers Technoviti 2023, Security product Company of the Year 2023, BW Security Innovative Security product of the Year 2023, reinforcing its commitment to safeguarding digital transactions and mobile applications. With a 2000% revenue growth over the last three years, Protectt.ai continues to redefine mobile app security, ensuring safe and seamless digital transactions in an increasingly mobile-first world. Manish Mimani, Founder & CEO of Protectt.ai, said, "With the rapid surge in mobile cyber threats, the need for advanced security solutions has never been greater. Protectt.ai is committed to building cutting-edge AI Powered mobile App Security solutions that safeguards businesses and consumers alike. This investment will enable us to enhance our technology, scale our operations, and expand into new geographies, reinforcing our position as a leader in mobile app security ensuring hyper growth." Vishal Gupta, Partner at Bessemer in India, said, "Cybersecurity is a core area of focus for us and Protectt.ai has demonstrated a strong ability to tackle evolving cyber threats through AI first security solutions. As mobile usage continues to rise, so do threats. Securing digital transactions and applications therefore has become a critical priority across industries. Protectt.ai's innovative approach, coupled with its rapid growth trajectory, makes it a promising leader in the mobile threat defense space. We are excited to support them in their next phase of expansion. About Protectt.ai: Protectt.ai is a leading Mobile Threat Defense (MTD) cybersecurity company specializing in next-generation mobile app, device, and transaction security solutions. Their innovative mobile app XDR Platform offers advanced protection against evolving cyber threats, fraud, and malicious attacks, ensuring the security of mobile businesses and users worldwide. The AI-powered platform seamlessly adapts to emerging threats in real time, providing proactive, always-on defense throughout the mobile app lifecycle - from development to deployment. By securing every layer of mobile app security with intelligent automation, Protectt.ai enables organizations to maintain robust protection in a mobile-first world. Serving as a global compliance hub, Protectt.ai ensures alignment with international security standards by continuously monitoring defense configurations, threat events, and security postures. This comprehensive approach facilitates seamless audits, regulatory adherence, and full visibility into the mobile app user journey, empowering organizations to navigate the complex cybersecurity landscape with confidence.