Protectt.ai, a mobile security startup that provides a comprehensive AI-powered security suite to the financial sector, has now secured a total of ₹76 crore (approximately $8.7 million) in a Series A funding round led by Bessemer Venture Partners. The investment is expected to accelerate the company’s research and development in AI-powered security solutions, strengthen its threat detection capabilities, and support its global expansion efforts. Protectt.ai aims to bolster its presence in several markets across the glove, including the US, the Middle East, and the Asia-Pacific region.
The threat of cyberattacks targeting mobile apps is a dire one, especially when cyber threats like phishing scams, identity fraud, malware infiltration, and data breaches are recurring issues. As financial transactions and sensitive data storage continue shifting to mobile apps, cybercriminals are devising new methods (such as spyware, ransomware, and trojans) to exploit vulnerabilities in apps and operating systems. This is where Protectt.ai comes in and addresses these challenges – the startup is focusing on leveraging AI and machine learning (ML) to provide real-time threat detection and mitigation.
The company’s security solutions analyze metadata from over 300 million smartphones, according to its official release, allowing it to identify malware behaviors and proactively counter potential cyberattacks before they compromise user data.
“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,” Vishal Gupta, Partner at Bessemer in India, commented on the development.
Currently, the company’s AI-driven platform is widely adopted across multiple industries, including banking, insurance, fintech, stock exchanges, and government services. Protectt.ai currently secures more than 2 billion mobile app sessions per month and prevents over 200 million cyber threats, making it a critical player in the mobile security ecosystem. “The cyber landscape is constantly evolving, with new operating systems, emerging mobile devices, and sophisticated malware threats impacting organizations. Advanced research and AI-driven solutions are necessary to stay ahead of these challenges,” Manish Mimani, founder and CEO of Protectt.ai, said in an official statement.
Protectt.ai claims to have recorded a revenue growth of 2,000% over the past three years, and its security platform helps businesses adhere to security mandates set by the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), and the National Payments Corporation of India (NPCI). As part of its expansion, Protectt.ai is establishing offices in the US and the UAE.
India will remain the company’s innovation hub, while the move to international markets will enable the firm to scale its operations and offer its solutions to a broader customer base. The company is also investing in hiring specialized cybersecurity talent to address the growing demand for advanced security expertise.
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