PUNE, India and MUMBAI, July 11, 2013 /PRNewswire/ --
Tata Capital Innovations Fund, a domestic venture capital fund managed by Tata Capital, has invested in Vaultize to help the company scale up its go-to-market strategy, including expanding across the world, with immediate plans to establish operations in the US and Europe in conjunction with channel partners. The company will also use the funds towards building out its best of breed sales, marketing and engineering teams, and to enhance its global partner program.
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Vaultize, a company headquartered in Pune (India), provides a secure enterprise-grade platform for file sharing, endpoint protection through backup and encryption, Google Apps backup and enterprise mobility. It helps businesses mitigate security, data loss and compliance risks because of today's challenges arising out of workforce mobility, proliferation of consumer file sharing solutions and Bring-Your-Own-Device (BYOD) trend. The Company started its operations in 2010 and has been in the market with the solution for over 18 months. It is the only enterprise-grade solution offering military grade (AES 256bit) encryption together with de-duplication at source (a US patent pending technology) thereby making it potentially the most secure solution in the world.
The Company has won many accolades like 'The Most Promising Technology Startup of 2011 from India" (Plugged.in, now NextBigWhat), "India's Hottest Startup of 2012' (Techcircle/VCCircle 2012) and among the "Top 10 Enterprise IT Security Companies" (Silicon India). The company has already signed up global partnerships with market leaders like NEC, Tech Mahindra and Mahindra Satyam.
"Data security and privacy are currently the key concerns of any organization's IT team. Use of consumer cloud services, workforce mobility and the trend of BYOD are likely to increase the concerns even further. Vaultize comes at the right time to address these pain points. Led by experienced professionals and domain experts, Valutize is poised to capture a significant share of the market in India as well as internationally," said Mohan Harshey, Partner - Private Equity, Tata Capital.
"Funding from Tata Capital Innovations Fund is a testimony of tremendous market opportunity for us, our unique market position and the successes we have been having in this market. We are honored to welcome Mr. Mohan Harshey and Mr. Vineet Chadha to our board," Anand Kekre, CEO and Co-founder of Vaultize said. "Vaultize has received significant market traction attributed to its focus on security and control requirements of enterprise IT. Bolstered by the funding, we continue to expand our existing teams, our product portfolio and begin to build a strong presence in the US and Europe through partner network."
About Tata Capital Innovations Fund
Tata Capital Innovations Fund has been registered with SEBI as a domestic venture capital fund under the SEBI Regulations. The fund is focused predominantly on technology led innovations which represent breakthrough, fundamental or incremental change in technology or process. It is a sector agnostic fund and can invest across all stages, viz. start-up, early, growth and mature. Tata Capital Innovations Fund has made 4 investments till date including Vaultize.
About Vaultize
Headquartered in Pune, Maharashtra, Vaultize is engaged in the business of developing and providing enterprise platform for file sharing and syncing, backup, data protection and mobility. The company's USP is constant and progressive innovation. It is the only company in the world which provides enterprise level solution that does military-grade (AES 256bit) encryption together with de duplication at source. The Company has tied up market leaders like NEC, Tech Mahindra and Mahindra Satyam, and boasts of marquee clientele like TVS Motor, DDB Mudra, QuickHeal, KWE, Hiranandani, DSCL, Atul Chemicals.
Vaultize is led by entrepreneurs and technocrats, Mr. Anand Kekre (Co-founder & CEO) and Mr. Ankur Panchbudhe (Co-founder and CTO). Vaultize was earlier named as Anoosmar Technologies. For more information, visit www.vaultize.com.
For further information, contact [email protected].
Primary Media Contact: Anand Kekre, [email protected], 91-20-20250958
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