Pioneer Legal, CAM act on Protectt.ai Series A fundraise

Indian cybersecurity firm Protectt.ai, which specializes in mobile application security, has raised ₹76 crore in a Series A funding round led by Bessemer Venture Partners.

Pioneer Legal advised and assisted Protectt.ai on matters pertaining to structuring of the Transaction, negotiation and finalization of the definitive agreements and the closing of the Transaction.

The transaction team consisted of Shoubhik Dasgupta (Partner), Eishan Agnihotri (Principal Associate), Ashmita Vinay (Associate), Rugwed Dhage (Associate) and Mahima Choudhary (Associate).

Cyril Amarchand Mangaldas advised lead investor Bessemer Venture Partners.

The funds will be used to accelerate product innovation, enhance the customer experience, and expand its global presence, particularly in the US, Middle East, and Asia-Pacific.

Protectt.ai is an Indian cybersecurity firm specializing in mobile application security. Its flagship platform, AppProtectt, utilizes advanced technologies like Runtime Application Self-Protection (RASP) and Extended Detection and Response (XDR) to provide real-time defense against evolving cyber threats and frauds.

The company serves critical sectors including banking, insurance, fintech, stock exchanges, and government services, protecting over 300 million smartphones and processing approximately 2 billion mobile app sessions monthly. Recognized for its innovation, Protectt.ai has received multiple industry accolades, such as the 'Security Product Company of the Year' at the Data Security Council of India's Annual Information Security Summit 2023. With offices in Gurgaon, Mumbai, and Chennai, and plans to expand globally, Protectt.ai continues to advance its mission of securing digital ecosystems worldwide.

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