IvyCap Ventures and two others invest Rs 31 crore in Aujas

BANGALORE: IvyCap Ventures is leading a Rs 31-crore investment in information risk management service provider Aujas. Existing investor IDG Ventures India, along with new investor Rajasthan Venture Capital Fund, also participated in the round.

Aujas will use the funds to hire talent, scale up its technology platform and strengthen the company's presence in North America, South Asia and West Asia.

"This funding will allow us to continue to invest in technology and global operations," said Srinivas Rao, CEO of Aujas. "We provide technology to defend and secure data, applications," said Rao whose company counts large banks and telecom companies as its clients. The global cyber security market is expected to grow from $63.7 billion (Rs 3.9 lakh crore) in 2011 to $120.1 billion (Rs 7.5 lakh crore) by 2017, at an estimated CAGR of 11.3% from 2012 to 2017, according to research firm MarketsandMarkets.

"Enterprise security is an evergreen and long-term IT focus area ," said Sudhir Sethi, founder of IDG Ventures India. "Aujas has successfully positioned itself as a premier global player in this market."