**Summary: Protectt.ai Secures $8.7 Million in Series A Funding for Cybersecurity Innovation**
Protectt.ai, a Mumbai-based mobile app cybersecurity startup, has successfully raised approximately $8.7 million in a Series A funding round led by Bessemer Venture Partners. Founded in 2020, the company leverages artificial intelligence (AI) to monitor cyber threats and remotely patch vulnerabilities in applications without requiring updates. The funding will be used for global expansion, product innovation, and talent development.
### Who, What, When, Where, Why
– **Who**: Protectt.ai, co-founded by Manish Mimani and Mohanraj Selvaraj.
– **What**: The company raised $8.7 million in Series A funding.
– **When**: The announcement was made on March 18, 2025.
– **Where**: Based in Mumbai, India.
– **Why**: To enhance cybersecurity for mobile applications, particularly in the banking and finance sectors.
### Focus on Cybersecurity
#### Targeted Industries
– Protectt.ai has identified mobile banking and UPI applications as primary targets for malware and cyber threats.
– Clients include notable institutions such as BSE, Yes Bank, IIFL Securities, Equitas Small Finance Bank, and Kinara Capital.
#### Innovative Approach
– The startup is developing predictive models for cyber threats based on user and device behavior.
– Mimani, previously the CIO of Aviva Life Insurance, emphasizes the importance of securing mobile transactions for over 900 million smartphone users in India.
### Financial Growth and Future Plans
– Protectt.ai reported its first profitable year in FY24 and aims to replicate this success in FY25.
– The company’s annual recurring revenue is nearly $5 million, with plans to double this figure in the next financial year.
– While it has a consumer segment, Protectt.ai is focusing on B2B cybersecurity solutions for the next two years.
### Conclusion
As the cybersecurity landscape evolves, Protectt.ai is positioning itself as a leader in mobile app security. How will the company leverage its new funding to enhance its offerings and expand its market presence?
**FAQ: What is Protectt.ai’s primary focus in the cybersecurity sector?**
Protectt.ai primarily focuses on providing cybersecurity solutions for mobile applications, particularly in the banking and finance sectors, using AI to monitor threats and patch vulnerabilities.
