Indian Startup Seclore Gains Traction Amid High Profile Hacks

Credit: Tomohiro Ohsumi/Bloomberg

Bad news for corporate hacking victims can be good news for information security firms. Just ask Vishal Gupta, founder and chief executive of Mumbai, India-based Seclore.

Amid a string of high profile breaches like those that have hit Sony Pictures, health insurer Anthem  and infidelity website Ashley Madison, Mr. Gupta’s firm has been quietly gaining clients in the U.S. and elsewhere.  Among them  are U.K.-based drug maker AstraZeneca PLC, Japanese electronics giant Panasonic Corp., German automotive company Daimler AG and U.S. cable firm Comcast Corp.

The company, while not as prominent as cybersecurity firms like FireEye Inc. or Palo Alto Networks Inc., targets an important but sometimes overlooked niche: locking down sensitive documents even when they are emailed outside clients’ networks. Seclore’s tools ensure that sensitive information like financial statements and  payroll information cannot be altered or printed if they shared with unauthorized users via email.

Seclore, which has about 200 staff and was founded in 2009,  still has a small annual revenue base of around $10 million but Mr. Gupta said his startup has become profitable in the last three quarters, helped by a growing number of clients in the U.S..

Seclore has received some $7 million of investments from the likes of India-focused venture capital firms Helion Venture Partners and Ventureast.

Mr. Gupta said that while companies like Microsoft Corp. offer competing products, he considers his biggest challenge to be finding and keeping top talent in order to keep up with rising demand.

“Information security has truly become a boardroom topic,” Mr. Gupta said.