Sistema Asia Fund has participated in a $12 million in Series B funding round for a Seclore, a major enterprise digital rights management (EDRM), along with other investors Helion Ventures, Venture East, and India Alternatives. The details of the transaction, which was announced in late April, have not been disclosed.
Sistema Asia Fund was launched three months ago by AFK Sistema, an LSE-listed Russian conglomerate, to invest in Indian startups.
Seclore claims that its “innovative and easily integrated product” enables organizations to protect 60% more files.
“There is a dramatic uptick in the demand for EDRM as the need to collaborate securely with external partners grows. Organizations are finding that persistent, granular file-centric security is the best defense against cyber-attacks and other risks associated with the sharing of sensitive information,” said Vishal Gupta, CEO at Seclore.
“The Panama Papers leak is the latest example of why organizations need Enterprise Digital Rights Management,” said Shivani Bhasin Sachdeva, managing director and CEO of Indian Alternatives.
“In the modern, global world of cloud and mobile technology, it is extremely difficult to balance effective external collaboration with strict information usage policies,” said Kirill Kozhevnikov, managing director and partner at Sistema Asia Fund Advisors. “Seclore has reinvented EDRM with innovations in ease-of-use and simplified connectivity to accelerate adoption of persistent information-centric security.”
