Mumbai: Securonix, a security intelligence services provider, on Wednesday said it has raised $29 million in a series A round of funding led by Volition Capital, a Boston-based growth equity firm.
Eight Roads Ventures, the investment arm of Fidelity International Ltd, also participated in the round, Securonix said in a statement.
The company, which provides technologies to detect, monitor, investigate and manage security threats and risks, has offices across US and in Bengaluru. It uses a Hadoop open data platform and machine learning capabilities to transform massive volumes of data into actionable intelligence.
The statement said it has customers across several industry verticals including more than a third of the Fortune 500 companies.
Securonix will use the funding to extend its investment in technology and for expansion in the domestic and global markets. “Organizations are looking for a solution that detects and responds to threats in real-time, and Securonix’s modern approach and patented machine learning technology positions it to be the market leader in this space,” said Raj Dugar, managing partner, Eight Roads Asia.
Eight Roads is an active investor in India, having invested across several sectors and companies such as BankBazaar.com, Chai Point, Cipla Health Ltd, CredR, Cygnus Hospitals, Eywa Pharma Pvt Ltd, and IFMR Capital Finance Pvt Ltd.