Cybersecurity company Securonix aims to achieve $500 million in revenue in the next three years by increasing organic capabilities, looking out for inorganic opportunities, and building a stronger partner ecosystem, said its Chief Executive Officer (CEO) Nayaki Nayyar.
Nayyar told businessline that the company is currently clocking $100 million in revenue, and the top line is growing at a double-digit CAGR for the last three years.
“This will be achieved by a combination of organic development paired up with some inorganic moves and making some partnerships. We want to grow to $500 million because the global security information and event management (SIEM) industry is expected to grow from its current size of $5 billion to $10 billion by 2025, giving us an excellent chance to capture a fair share of that market,” she said.
In terms of inorganic opportunities, the company will be looking to consolidate from adjacencies to SIEM. Nayyar said that any kind of Extended Detection and Response (XDR) or Managed Detection and Response (MDR) vendors would make sense and be a natural adjacency.
‘India — one of the fastest-growing regions’
According to Nayyar, the company in India has 360 employees, which is 60 per cent of the entire global workforce, and has R&D, go-to-market functions, end-to-end customer support and other operational functions.
Harshil Doshi, Country Director at Securonix said, “India has been one of the fastest-growing regions for Securonix. We have managed to capture a 10 per cent market share so far. The opportunity is immense and we see cybersecurity as the top IT spending in the country across industry verticals.”
In the region, BFSI, IT/ITES, government, and healthcare have been the industry verticals with increased adoption.
New focus
Nayyar said that going forward, the focus will be on partnerships as they will provide natural growth opportunities and also look at global telcos as a growth vertical.
Securonix partnered with a data cloud company Snowflake to launch Unified Defense SIEM. This all-in-one platform provides organisations with 365 days of data for fast search and investigation, threat content-as-a-service, proactive defense with continuous peer and partner collaboration, and unified Threat Detection, Investigation, and Response (TDIR) experience.
Published on June 4, 2023
