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After the acquisition, PingSafe is set to mint a new crop of dollar millionaires.The deal is expected to close in the first quarter of FY25. Last year, it raised $3.3 million in seed funding led by Peak XV Partners.
PingSafe was founded by Anand Prakash and Nishant Mittal in 2020. PingSafe provides a centralised dashboard with real-time proof of exploitability by sending harmless payloads to hack customers’ infrastructure to discover those vulnerabilities immediately. PingSafe’s platform bridges the gap between attackers’ modus operandi and security solutions in the market by aggregating intelligence via cloud APIs and logs.
Prakash planned to raise around $20 million to expand the startup’s footprint in the US and began conversations with several investors including SentinelOne. “I never thought I would sell. SentinelOne’s AI security platform is a gamechanger in cloud security that protects enterprises across endpoints, identities, and clouds. It has nearly 12,000 customers and we would have taken three years to get there. It’s also about the scale,” he told TOI.
The 30 year-old hails from an agricultural family from Bain village in Churu district of Rajasthan. He is the first engineering graduate from his family and he didn’t have a computer till he went to Kota for his IIT-JEE coaching.
“I used to go to a nearby cyber centre and paid Rs 10 per hour to browse the internet,” he told TOI. Prakash was preparing for his IIT-JEE at the Resonance Eduventures in Kota in 2008-09 and his friend threw a challenge at him to hack his Orkut account. Even though he had no prior technical knowledge, he found a 10-step hacking tutorial on Google on how to hack an Orkut account. His hack mirrored his friend’s Orkut homepage that prompted a trigger to enter his credentials. That is when Prakash became interested in understanding a hacker’s mindset.
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