Enterprise file sharing and sync (EFSS) & mobility vendor, Vaultize has raised undisclosed amount in Series A funding from Tata Capital Innovations Fund. The company will be utilizing the raised funds to scale up its go-to-market strategy.
The funds raised will also be deployed for its immediate goal of establishing operations in the US and Europe in conjunction with channel partners. It will also be focussing on building sales, marketing and engineering teams, and enhancing its global partner program.
With the funding round Mohan Harshey and Vineet Chadha from Tata Capital have also joined the board of Vaultize.
Vaultize is helps small and medium enterprises facing issues from data loss, security and BYOD trends across the world by providing a secure platform for file sharing, endpoint protection through backup and encryption, and mobility.
The increasing trend of cloud services, workforce mobility and BYOD is acting a catalyst for Vaultize to grow in this space. BYOD is a trend of increasing urge and usage of personal devices at workplace by employees which is also creating data security concerns for the companies.
According to Anand Kekre, CEO and Co-Founder of Vaultize, investment from Tata Capital Innovations Fund is a testimony of the tremendous market opportunity, their unique market position and the successes they have in this market.
Based in Pune, Vaultize was launched in September 2011 after being in stealth mode from 2010, it was co-founded by Anand Kekre and Ankur Panchbudhe.
Tata Capital Innovations Fund is a venture capital fund which is managed by Tata Capital and focuses predominantly on technology led innovations.