TAC Securities Solutions, a cyber security service providing company, has announced that it has raised an undisclosed amount of funding in pre-series A round from Vijay Kedia, M.D. of Kedia Securities.
As a part of this deal, the investor will also be joining the company’s board of directors as a non-executive independent director.
Commenting about the same, Vijay Kedia, said,
Cyber crime is a bigger threat to business than terrorism. It is estimated that every minute, half a million attack attempts are happening in cyberspace. World is facing an arms race in terms of security. I believe the opportunities available in this space would possibly beat the estimations of $170 billion by 2020 and grow further.
The funds raised will be used for research and development. The company will also spend amount for expanding to overseas markets in Europe, the UAE and North America.
Trishneet Arora, founder of TAC Securities, said,
We are very excited in bringing such amazing and premier investor on board who has shown a lot of interest and confidence in our business. Kedia has built various big brands and his advice and mentoring will help us grow the company to the next level.
The startup was founded in 2013 by Trishneet Arora, a renowned cyber-security expert and ethical hacker. He has been recognized and felicitated with a State award by the Chief Minister of Punjab.
The company is currently working with prominent clients like Reliance Industries Limited, Gujarat Police, Punjab Police, International Tractors Limited (Sonalika), AMUL, Avon Cycles, RALSON, and Central Bureau of Investigation (CBI) among others.
It is now planning to add 500 Fortune companies to its clientele by next year. The company is also targeting revenue of $2-3 million by next year.