Speaking to CNBC-TV18, Founder and CEO Manish Mimani said, AI will play a crucial role in shaping the future of cybersecurity. “We are also working on a new platform for AI security. Today, we are using AI and a lot of roles are emerging around AI. So, we have planned to develop a new AI security platform along with our mobile application security platform,” Mimani said.

This initiative is backed by a recent ₹76 crore Series A funding round led by Bessemer Venture Partners, which will also be used to nurture cybersecurity talent and drive further product innovation.

Alongside its AI ambitions, Protectt.ai is actively pursuing global expansion. The company has set its sights on the US, Middle East, and APAC regions, with operations in the US set to begin in April. “Certainly, India will be our major focus area because we have developed and taken leadership in the Indian market for mobile application security,” Mimani stated. The Middle East market, which he described as “vacant” for advanced security portfolio products, has already seen the company establish a presence, while APAC expansion is expected within the next year.

The US and Middle East are expected to be key markets in this expansion strategy. According to Mimani the US is a “premium market” for cybersecurity, while the Middle East offers a significant opportunity due to limited competition in advanced mobile security solutions. Protectt.ai has already begun hiring in these regions as part of its growth plan.

A significant portion of the recent funding will be directed toward talent development and innovation in cybersecurity. “Product innovation remains our key. Cybersecurity is an ever-emerging market. So, product innovation and nurturing cybersecurity talent are major focus areas of this fundraise,” said Mimani. As threats continue to evolve, the company aims to stay ahead by investing in new technologies and skilled professionals.

Protectt.ai is already profitable, with an annual recurring revenue (ARR) exceeding $5 million this financial year. The company aims to more than double that figure to $12 million ARR next year, targeting ₹100 crore in revenue.

Mimani expects India to continue contributing 70% of revenue, with international markets making up the remaining 30%. However, over the next three to four years, the company plans to expand its global footprint significantly.

With India leading the world in mobile-driven digital payments, the need for robust mobile security has never been greater. Protectt.ai’s platform provides security at the smartphone level, preventing cyber threats, identity theft, and account takeovers.

Currently, Protectt.ai secures over 300 million smartphones, processes 2 billion mobile app sessions monthly, and prevents 200 million cyber threats. The company aims to expand its coverage to 500 million smartphones, leveraging AI and data-driven solutions to enhance security measures.

The BFSI sector remains Protectt.ai’s primary focus, given its high vulnerability to cyber threats. The company works closely with mobile banking applications, NBFCs, UPI applications, and other financial service providers to ensure the security of money transactions.

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