VenturEast exits from Seclore, with 17.5x return on its Seed round

VenturEast backed data-centric Security Platform provider, Seclore, has announced that it has raised $27 million in series C, led by Oquirrh Ventures, Origami Capital. As part of this transaction, VenturEast has fully exited its stake. VenturEast backed the company at Seed and Series A, exiting with a 17.5x return on its Seed round.

The new capital infusion empowers Seclore to fast track its journey to become the platform of choice for enterprise data protection initiatives. The funding round brings the total raised to date to $46 million. With big government and defence agencies and more than 500 global enterprises, including American Express, Applied Materials, ADM, Saudi Telecom, and ICICI group as its customers, Seclore has established a leadership position in the data-centric security space.

"Confidential data is everywhere," said Vishal Gupta, CEO of Seclore. He further added, "Data is in transit with third parties, public clouds, and personal devices. Enterprises cannot afford to 'chase' this data through its lifecycle. Seclore's data-centric approach is geared toward relieving enterprises from protecting infrastructure to protecting what really matters — the data. This investment fuels our ability to protect the modern workplace and ensures enterprises have a trusted partner for data security, governance, and compliance."

Dhiraj Gupta, Principal, VenturEast said, "Seclore has grown to become a pioneer in innovating data-centric security solutions for enterprises. We are proud to have been part of the company's exciting journey right from being its very first seed investor a decade ago, and then through multiple subsequent rounds of funding. We have seen Vishal, Abhijit and the team building the business brick by brick. As they enter a new growth phase with us handing the baton to our co-investor friends, we will continue their progress."

VenturEast is amongst the longest standing fund managers in India that "patiently" backs entrepreneurs. We remain committed to investing in businesses that focus on B2B domains (B2B2C & B2B) with technology as a differentiator and data as a moat, and not just "capital".

The fund's other active SaaS investments include MoEngage, Infinite Uptime, VideoVerse, Edge Networks and Zaggle. VenturEast's other recent exits include iNuture to ADM capital, Indus OS to Affle, and Richcore Lifesciences to Laurus Labs.

VenturEast is typically one of the first lead investors or institutional investors in its portfolio companies while recognising the huge value of co-investors in the long journey to build from the early stage. It is keen on businesses that are innovating for the 'next' 400 million in India or building products for SMBs globally, with an India-first approach.

VenturEast remains focused on the steadfast approach of balancing the company's needs while distributing meaningful returns to its limited partners within the fund's life.