Protectt.ai raises Rs 76 Cr in Series A round led by Bessemer

Protectt.ai, a mobile app cybersecurity & fraud control platform, has raised Rs 76 crore (around $8.7 million) in its Series A funding round led by Bessemer Venture Partners. 

The proceeds will be used to enhance the AI-driven mobile app security solution platform, accelerate product innovation, build new solutions for AI Security, and support its global expansion initiatives in the US, Middle East & APAC.

Founded by Manish Mimani and Mohanraj Selvaraj, Protectt.ai offers a suite of mobile app security solutions, designed to safeguard mobile apps from emerging cyber threats & frauds. It also serves as a global compliance hub for mobile app owners who need to comply with regulations from entities such as RBI, SEBI, NPCI and other regulatory bodies. 

Its mobile app XDR Platform offers advanced protection against evolving cyber threats, fraud, and malicious attacks, ensuring the security of mobile businesses and users worldwide. 

Protectt.ai claims to have covered over 300  million smartphones, processing approximately 2 billion mobile app sessions every month while preventing 200 million cyber threats and fraud events every month. 

Additionally, the platform serves as a compliance hub, ensuring adherence to regulatory requirements from authorities such as the Reserve Bank of India, the Securities and Exchange Board of India, and the National Payments Corporation of India.