The funding, which gives Saghi a “significant minority stake” in the company, will be used to increase Netmonastery’s market presence across the globe, the company told ET.
Founded in 2002, Netmonastery delivers security solutions 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). DNIF is part of the cybersecurity nerve centre for companies in finance, banking, government, media, manufacturing and electronic commerce.
“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 mentoring them to strengthen the ecosystem,” Sharad Sanghi said.
“Cybersecurity is not the biggest problem, the volume of data that companies face is the challenge which makes it cost-prohibitive. We have been able to crack this at a fraction of the cost. Sharad Sanghi has shown confidence in us with this investment,” Shomiron Das Gupta, founder and chief executive officer of Netmonastery said.
Das Gupta stated that while the company has largely remained focused on the India market and has a proven track record with partners, the current investment will help it market in global geographies.
Speaking about the talent crunch in the cloud and cybersecurity space, Das Gupta added that the company has recently rolled out employee stock options to improve retention programmes.
Sanghi added that while professionally he has worked with the security company for many years, Netmonastery’s recent foray into cloud solutions was a key driver for the investment.
“DNIF is now delivered through the cloud so users don’t have to wait for new hardware deployment on a customer’s premise, then take two to three weeks to set up. And then constantly worrying about upgrading the hardware. As the data increases. Now they can put their security needs on a public cloud, and it works nicely, and scale seamlessly,” said Sanghi.
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. 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.NTT-Netmagic CEO Sharad Sanghi invests in cybersecurity firm Netmonastery NSPL
