Cybersecurity platform BluSapphire raises $9.2 million in Barings PE-led funding round

• BluSapphire is a cybersecurity SaaS platform which was founded by Kiran Vangaveti.
  
• VC firm Dallas Venture Capital, Binny Bansal-backed xto10x, RPG Ventures & Merisis Venture Partners participated in the funding round.
  
• ValueBridge Capital was the sole advisor for this transaction

Full-stack cybersecurity platform BluSapphire Cyber Systems said on Thursday it has raised $9.2 million in a Series A funding round led by Barings Private Equity India.

The round also saw participation from VC firm Dallas Venture Capital, Binny Bansal-backed xto10x, RPG Ventures & Merisis Venture Partners. ValueBridge Capital was the sole advisor for this transaction, the company said.

BluSapphire, a Gartner Cool Vendor, is a cybersecurity SaaS platform which was founded by Kiran Vangaveti. A Gartner Cool Vendor title is given to a small company that is providing innovative tech solutions.

“Building resilience against sophisticated cyber-attacks is the key to business survival. BluSapphire operates with this vision. The capital will help us continue to build and grow our SaaS platform rapidly across North America and India,” Vangaveti, who is also the CEO of BluSapphire, said.

The full-stack AI and predictive analytics platform allow clients to prevent sophisticated cyberattacks across cloud, on-premises and hybrid work environments, the company said.

“BluSapphire offers a full-stack cybersecurity platform, which helps automate cybersecurity operations. The efficiencies offered by their platform can reduce SOC operating expenses by close to 70% with cutting-edge detection and response times. The product has strong validation from reputed defence and corporate sector clients and it has won various awards,” Arul Mehra, partner, Barings Private Equity India, said.

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