Indusface is a leading global SaaS company in application security, funded by Tata Capital Growth Fund II. It secures mission-critical web, mobile and API applications from over 3,000 global customers using its award-winning fully managed platform that integrates web application scanners, web application firewalls, DDoS mitigation and BOT, the CDN and threat intelligence engine shares Ashish Tandon, CEO, and co-founder of Indusface during his interview with Express Computer.
Some edited excerpts:
What are the company’s current prospects and plans for investment/expansion?
Today, due to the pandemic and the work-from-home culture, the digitization process has accelerated and even small suppliers have an online application to order. Everyone wants to move to a digital world through a website, API or app and needs protection against ransomware and cyberattacks and that’s what Indusface does. Our product is highly valued because there is more digitization, creating a disguised opportunity, we make our services available to our customers online, and our marketing investments have helped Indusface expand its customer base. In the cyber world where technology is changing rapidly, the current perspective is to make Indusface available to more people, faster.
Indusface also plans to double its turnover by next year. We serve a diverse clientele including large corporates such as TCS, ICICI Bank, HDFC Ergo, Aegon Life, Aditya Birla Finance, Larsen and Toubro, Marico, Titan, Tata Power, Start TV, etc., as well as startups and enterprises SaaS such as Darwinbox (Unicorn), SastaSundar (a Flipkart company), NamasteCredit, Qwikcilver (a PineLabs company), Shopclues, etc. The company also aims to double its revenue and customer base in the coming year.
We heard about the expansion of Indusface in the US, how has funding from Tata Capital Growth Fund II helped you grow?
We have established customers in over 80 countries. Being a data-backed company has helped raise awareness of Indusface in the market, giving our capital a huge boost, which has helped us expand our market space. Today there is a huge demand for our product in the market and our goal of projecting double income in the coming year seems possible. In terms of expanding into developed markets, we have over 100 customers in the United States and over 80 in Europe, we have obtained them from digital platforms. I think prioritizing investments in quality human resources will help us grow on a much larger scale by getting better customers.
Indusface grew from $1 million ARR (annual recurring revenue) to $5 million ARR. What were the challenges of starting a base in a Tier II city in India?
Previously there was no SaaS business in India, getting the right clientele at that time was a problem, but over time and as this is my third business, the experience from the past is getting better. has proven useful. Selling our first business to one of the best security companies in the world, we had the capital, we invested in people and in building the right product and that’s what attracted the right investors to our business. . The challenges this time around were much better planned because we had the capital, the experience and most importantly the knowledge of the market, the current challenge is moving faster and spreading to various geographies. Keeping up with daily technological developments for the best of our customers is equally demanding, but now that we are established and have a loyal customer base, the next phase I see is growth.
Meeting the expectations of customers like ICICI, Titan and HDFC must also be a challenge, please tell us about your service portfolio and customer base.
Indusface never considers its client as a challenge, it is he who helps Indusface to innovate and grow, we are here to provide a solution to the problem. Our philosophy is to help customers solve their problems. We focus on our customers’ problems and by solving them, we provide our customers with what they really want. Indusface has spent nearly 2.5 years to get the right product that fits the market, we are committed to building on a bigger platform, and making sure the product is correct, scalable and can handle the high traffic of banks or e-commerce companies. Indusface works to protect digital assets by securing the critical web, mobile and API applications of over 3,000 global customers using its award-winning fully managed platform that integrates web application scanners, a web applications, DDoS and BOT mitigation, CDN and threat intelligence engine. .
Indusface works end-to-end, from checking weaknesses to protecting them, mitigating cyberattacks and making the client’s site fast and accessible.
What is the reason for the increase in cyber threats in the financial system and what steps should the global community take to tackle this emerging problem?
Ransomware is the most common attack factor used by hackers, hackers have realized that with the scanning available on the internet, they are able to understand application weakness and code flaws and they exploit them to enter the security system. Due to the wide availability of hacking software on the internet, anyone can access the gateways inside. Indusface helps its customers avoid these attacks by ensuring that application codes and software are protected. We work on all aspects necessary to secure digital assets, process them properly and have the right service provider for our customers.
The fundamental protocol followed by Indusface makes it easy to keep our customers secure, Indusface holds itself responsible for managing the software well for its customers, most importantly, the only mantra followed by Indusface is “give us your digital assets and we will secure them for you “. We are “customer obsessed”, Indusface ensures that its customers are heard at all times and provide them with absolute satisfaction.