Cloud security startup PingSafe raises $3.3 million in funding led by Surge

Surge is the startup accelerator programme of Peak XV Partners, earlier called Sequoia Capital India & Southeast Asia.

Other participating investors in the round were early-stage venture fund Tanglin Ventures and angel investors – PhonePe founder Rahul Chari, former WhatsApp chief business officer Neeraj Arora, Recko founder Saurya Prakash, SquareX founder Vivek Ramachandran and Tata 1mg founder Gaurav Agarwal.

The freshly raised capital will help the startup advance its cloud security solution and product innovation, and also ramp up its global business development efforts in India and the United States, as per a statement.

PingSafe serves customers across multiple geographies and verticals, including names like Flipkart, Razorpay, Near Intelligence, Ujjivan Bank, Skyflow, SBI General Insurance and Recko.

The company was founded by ethical security hacker Anand Prakash, who has previously found vulnerabilities in companies such as Uber, Meta and Twitter, and Nishant Mittal in 2022. It has bases in San Francisco and Bengaluru.

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“Having discovered thousands of critical vulnerabilities in leading companies, we understand the mindset of hackers. At PingSafe, we incorporate this unique perspective into our CNAPP platform by adding capabilities like the Offensive Security Engine (OSE) that identify the most critical vulnerabilities and provide proof of exploitability, reducing the overhead of security teams,” founder and CEO Prakash explained in the statement.PingSafe’s OSE helps businesses address critical and exploitable vulnerabilities at speed and scale. The company helps secure cloud environments across various hyper scalers such as Amazon Web Services, Google Cloud Platform and Microsoft Azure.