Global information risk management services company, Aujas Networks has raised series B funding from Rajasthan Venture Capital Fund (RVCF), IvyCap Ventures and IDG Ventures. The deal size was not disclosed.
Aujas, founded in 2008 was incubated by IDG ventures through an Entrepreneur in Residence program. The company now has presence in India, Middle East & the United States.
The pure play security company provides risk management services to its clients.
Girish Gupta, the CEO of RVCF & Vikram Gupta of IvyCap Ventures will join the company’s board.
“We help organisations manage and mitigate IT risk and compel them to view this not only as an IT challenge but as a business risk,” Srinivas Rao, the CEO & Founder of Aujas told NextBigWhat.
Larger technology trends like the consumerization of IT, the move to cloud computing, adoption of mobility and social media has increased the demand for security solutions that can manage the corporate infrastructure better.
Nearly half of the company’s business comes from the United States & Middle East. The company started off as a services provider but has built a security platform for clients. “We will invest the funds in developing and marketing the product,” said Rao.
Aujas will also invest in increasing its presence in different geographies and more verticals, he said. The company currently serves customers in the banking and telecom sector.
The company has been growing at a clip of 100% year on year and is on track to clock similar growth this year, he said.
The information security market in India, including hardware, software and services is about $200 mn in size. Aujas also works with the government on cyber security.
The current investment will be used to fuel organic growth. Aujas currently employs 180 people in India, US & Dubai.
(With inputs from Jayadevan PK)