UpGuard, the third-party risk and attack surface management platform, announced plans to expand its global footprint into India, ramping up hiring efforts in the region in the next year. UpGuard is known for publishing a recent global report identifying a new security exposure vector in Microsoft Power Apps. UpGuard’s growth in India has greatly accelerated, with a 408% growth in sales in the last 6 months alone. Notable new customers include Tech Mahindra, a $5.2 billion organization with 121,900+ professionals across 90 countries.
India witnessed a surge in cyberattacks amid rapid adoption of digital services across the country following the lockdown imposed in the wake of covid. Nearly 1.16 million cases of cyberattacks were reported in 2020, up nearly three times from 2019 and more than 20 times compared to 2016, according to government data presented in the Parliament in March.
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Amid rising cybersecurity threats, Indian firms are facing a shortage of skilled professionals. According to an estimate by the Data Security Council of India, the shortage of skilled cybersecurity professionals in India is 9 per cent higher than the global average. According to a recent report, the number of organizations planning to have a CISO lead their strategy will increase to 40% and nearly a third say the number of external security partners they use will increase significantly in the next 12 months.
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To meet this challenge, UpGuard is rapidly expanding in the region, hiring a sales team to empower the continued growth of the company. UpGuard assisted Tech Mahindra in streamlining their security processes using UpGuard BreachSight and automating their entire vendor risk management program by assessing each vendor with UpGuard Vendor Risk. UpGuard was recently named a Tech Pioneer by the World Economic Forum, recognized for its innovative solutions in the digital risk protection and vendor risk management space.
“India is the upcoming technology powerhouse of the world and with cyber attacks on the rise, there’s a need for strong cybersecurity solutions in the region” said Mike Baukes, Co-Founder and Co-CEO of UpGuard. “We are very excited to continue building a team in this region and to partner with businesses to ensure that they scale securely.”
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