Vaultize, an India-based enterprise IT company which provides a platform for file sharing and encryption, has raised an undisclosed amount of funding from Tata Capital Innovations Fund, the venture capital fund managed by Tata Capital, itself part of India-based industrial conglomerate Tata.
The funding will help the company to expand geographically, with immediate plans to establish operations in the US and Europe. The company will also use the funds towards building its sales, marketing and engineering teams, and to enhance its global partner program.
Mohan Harshey, partner, private equity, Tata Capital, who has joined Vaultize’s board of directors, said: “Data security and privacy are currently the key concerns of any organization’s IT team. Use of consumer cloud services, workforce mobility and the trend of Bring-Your-Own-Device are likely to increase the concerns even further. Vaultize comes at the right time to address these pain points.”
Anand Kekre, chief executive officer and co-founder of Vaultize, said: “Vaultize has received significant market traction attributed to its focus on security and control requirements of enterprise IT. Bolstered by the funding, we continue to expand our existing teams, our product portfolio and begin to build a strong presence in the US and Europe through partner network.”