Bangalore based startup ShieldSquare has raised Rs.2 crore from angel funding backed by a pool of 15 investors, entrepreneurs and high net-worth individuals from India, Singapore, and US. ShieldSquare is a SaaS-based solution that protects online businesses against web scraping and malware attacks. The online entity is operated by Bangalore-based Kaalbi Technologies Pvt Lt.
The investors invested in ShieldSquare includes enterprise software maker Freshdesk’s Girish Mathrubootham; red-Bus founders Phanindra Sama, Charan Padmaraju, and Sudhakar Pasupunuri as well as Murugavel Janakiraman of BharatMatrimony.
ShieldSquare helps block automated malicious traffic that steals or damages content on the site.It analyses millions of traffic requests daily and uses Big Data analytics to identify and help block suspicious, unwanted and abusive behavior.
ShieldSquare was founded by five entrepreneurs in March 2014 – Pavan Thatha, Rakesh Thatha, Vasanth Kumar, Jyoti Kakatkar and Srikanth Konijeti. The founders had previously setup ArrayShield, a two-factor authentication product company with customers in US, Europe and Asia targeted at enterprises. ShieldSquare will look to raise approximately $2 million in Series A funding in the second half of 2015.
Customers of ShieldSquare include social networking sites, e-commerce portals, content websites and classified or listing sites spanning US, Europe and Asia. The service is available on a quarterly subscription model and pricing is based on usage requirements. “We will use the funding for product development and hiring talent,” said Thatha, co-founder and CEO, ShieldSquare.
ShieldSquare graduated out of Microsoft Ventures Accelerator, Bangalore in November 2013 and has been nominee of Red Herring Asia 100, Nasscom Emerge 50 etc.