Protectt.ai is a mobile app cyber security and fraud prevention company. Recently, the company closed its Series A funding round of INR 76 crore. Bessemer Venture Partners led the round. The company will use this fund to strengthen its AI-driven mobile security platform, and accelerate product innovation. Protectt.ai is also eying expansion in the US, Middle East and APAC.
Rapid Growth
Protectt.ai was founded in 2020 by Manish Mimani and Mohanraj Selvaraj. The company has made tremendous progress in the cybersecurity space. Protectt.ai is currently serving over 300 million smartphones, processes more than 2 billion mobile app sessions every month and blocks around 200 million cyber threats and fraud incidents every month. Its clients include leading banks, stock exchanges, fintech companies, insurance providers, NBFCs and government agencies.
Usage of Funds
The newly raised funds will be used to enhance Protectt.ai’s comprehensive suite of mobile security solutions, build new AI security capabilities and nurture niche cyber security talent. Apart from strengthening product development and customer experience, the company is looking to make a big international push with operations already in Dubai and plans to set up operations in the US by early April 2025.
Innovating with AI-Powered Threat Detection
Protectt.ai is building a platform around AI security to address large language models and agentic platforms, expected to launch between August to September 2025. The company’s technology allows organizations to patch vulnerabilities in apps remotely without updates, reducing the patch lifecycle from months to real time.
Leadership Vision
Manish Mimani, Founder and CEO, Protectt.ai said, “With the rapid increase in mobile cyber threats, the need for advanced security solutions has never been higher. Protectt.ai is committed to building AI-powered mobile app security solutions that protect businesses and consumers alike. This investment will help us to enhance our technology, scale operations and expand into new geographies and be a leader in mobile app security and hyper-growth.” Bessemer Venture Partners has invested in around 30 cyber security companies globally and saw Protectt.ai as a leader in mobile threat defence.
Vishal Gupta, Partner and Managing Director, Bessemer India, said, “Cyber security is an area of focus for us. As mobile usage is growing, securing digital transactions and applications is a top priority across industries. Protectt.ai’s AI-first approach along with its growth numbers makes it a pioneer in mobile security.”
Mumbai-based startup has already shown strong financials, the first profitable year in FY24. FY25 annual recurring revenue is close to USD 5 million and going to double that in the next year. Although Protectt.ai has consumer solutions, next 2 years focus will be on B2B.
Besides commercial success, Protectt.ai has won several awards including DSCI Innovation Box 2023, BW Security Cybersecurity Company of the Year 2023, and Technoviti Award 2023. The company has also partnered with IIT Madras for cybersecurity talent development through the Binary Clash 360 hackathon.
Conclusion
In conclusion, Protectt.ai’s rapid ascent in the mobile cybersecurity space is a testament to its strong leadership, innovative AI-driven solutions, and commitment to securing the digital ecosystem. With fresh funding from Bessemer Venture Partners, the company is well-positioned to accelerate product innovation, expand its global footprint, and solidify its leadership in the mobile threat defence market.
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