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Cybersecurity Firm Netmonastery Raises Pre-Series A Funding

The funding will be used to increase NETMONASTERY’s market presence.

NETMONASTERY NSPL, a Security Information and Event Management (SIEM) solution provider with superior analytics and extreme scaling capabilities has raised an undisclosed Pre-series A round from Sharad Sanghi, CEO, NTT-Netmagic in his personal capacity. The funding will be used to increase NETMONASTERY’s market presence.

With over 25 years of extensive experience in developing Internet backbone infrastructure and providing Internet services, Sharad Sanghi exemplifies what it takes to be a successful business leader. As a pioneer in the Indian cloud computing and data center space, Sharad founded Netmagic Solutions in 1998 which was later acquired by NTT, a Fortune 500 company. He also serves as the Chairman of the Data Center Council of the Confederation of Indian Industry (CII).

NETMONASTERY delivers through its product DNIF HyperScale SIEM, a single window cybersecurity solution designed for enterprise Security Operations Centers (SOC) that includes a combination of a SIEM, User and Entity Behaviour Analytics (UEBA) and Security Orchestration, Automation and Response (SOAR). The product promises pioneering threat attribution using subjective machine intelligence and detects multi-stage threats without human arbitration. DNIF is part of the cybersecurity nerve center for leaders in finance, banking, government, media, manufacturing and electronic commerce.

“The cybersecurity market in India is slated to grow to USD 3.05 billion by 2022. Although this is big, given the recent outrage of cybercrimes and attacks, there is a pressing need for improved cyber resilience through technologies providing better visibility into the threat landscape. For more research on core technologies and building capabilities, there is a need for companies that have the vision to change existing paradigm and lead cyber tech innovation. I see that in NETMONASTERY whose enterprise-grade DNIF HyperScale SIEM with strong analytic capabilities is a definite game-changer. This strategic investment in my personal capacity is an attempt at securing the digital infrastructure in India and a step towards my vision of partnering with such companies and mentor them to strengthen the ecosystem,” said Sharad Sanghi.

Shomiron Das Gupta, Founder and Chief Executive Officer of NETMONASTERY said, “Sharad Sanghi is a pioneer in the Indian IT, Data Centers and cloud computing space with a remarkable track record of having steered Netmagic (now an NTT company) to become a leader in the data center space. His vision for the ecosystem is remarkable and his investment in NETMONASTERY and guidance and wisdom will be an enabler for us.”

The DNIF Hyperscale SIEM platform revolutionizes the SIEM segment by enabling easy ingestion and unlimited retention of high volumes of data. Where competing solutions work well with “thousands” of events per second, DNIF enables customers to operate at “hundreds of thousands” of events per second on-premise to “millions” of events per second in the cloud. Apart from having bleeding-edge SIEM capabilities – DNIF is built as an automation platform that can stitch together detection, validation, response and more – allowing customers to build and operate autonomous security operations. DNIF aims to enable the next generation of security management capabilities by democratizing the ability to work with petabyte scale data.

Source: Business World

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