Strobes raises growth Capital from SucSEED Indovation Fund
Hyderabad — October 2021 Strobes has secured growth capital from Hyderabad headquartered SucSEED Indovation Fund as a part of the pre-series A round.
With the motto of “Cybersafe World for All”, Strobes’ aim is to reduce the cybersecurity risks of all sized companies through effective & efficient vulnerability management.
Strobes is a risk-centered vulnerability management platform that aggregates security vulnerabilities from all sources automatically removes duplicates and prioritizes vulnerabilities based on threat intel that runs on ML and provides amazing visibility to top-level management by quantifying risk and providing the cyber risk score.
Unlike other Vulnerability Management Platforms, Strobes integrates with popular open-source scanners, top commercial scanners that include SAST, DAST, Mobile, Network, Cloud, and Container security scanners. It streamlines and prioritizes resolution efforts with intelligent prioritization metrics saving the team’s 35% of the operational time that goes into vulnerability management.
Pandemic was a blessing in disguise for us as we were able to ramp up the development of our product especially releasing the SaaS version of Strobes.
Venu Rao, the Founder/CEO of Strobes said, “No code workflow, aggregating vulnerabilities from multiple sources and prioritization using ML-based threat intel is how Strobes is filling in a previously existing gap of vulnerability management.” He further added that “the pre-seed funding we raised from SucSEED Indovation Fund will help us in gaining traction in the USA market.”
Speaking on why they have invested Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said “We believe that a company’s internal information and its security are the utmost valuable assets to any company. A report stated that damage related to cybercrime is projected to hit $6 trillion annually by 2021 and protecting it at an early stage for companies is crucial. Our investment in this field will further help to grow the technology and enhance the overall security”
According to a new market research report “Security and Vulnerability Management Market by Target, Deployment Mode (Cloud and On-premises), Organization Size, Vertical (Information, Finance and Insurance, Healthcare and Social Assistance, Utilities), and Region — Global Forecast to 2025”, the market size is expected to grow from USD 9.3 billion in 2020 to USD 19.8 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 9.9% from 2020 to 2028.