Global cyber security firm TAC Security on Monday announced its plan to go public this year and raise funds from the capital market to expand its operation with an aim to increase its turnover to ₹100 crore by 2026.
SaaS (Software as a service) firm TAC Security, founded by entrepreneur Trishneet Arora in 2013, is one of the leading players in cybersecurity.
TAC Security, a pioneer in risk and vulnerability management worldwide, is eyeing a revenue of ₹100 crore by 2026, a company statement said.
However, the company did not disclose its current turnover.
According to the statement, the company is aggressively exploring capital-raising options, including an initial public offering (IPO) in early 2024.
Beeline Capital Advisors Private Ltd has been appointed the exclusive book-running lead manager for the proposed IPO.
TAC Security CEO Arora said, "We are now embarking on our next growth stage, aiming for a nearly ten-fold increase in revenues by FY26 through organic growth and inorganic expansion. Towards this, we aim to become among the few listed cybersecurity players globally".
In an always-on digital world, cybersecurity has emerged as a key area of focus among the public and private sector entities worldwide, Arora stated.
The company received backing from stock market expert Vijay Kedia in 2016, fortifying its position in the market.
TAC Security has onboarded marquee professionals, comprising industry stalwarts Subinder Khuranna, William May, Siva Sivasubramanian, and former US Army Brigadier General Raphael Warren to its advisory board.
It has also established strategic partnerships with industry leaders like TechMahindra, Deloitte, Ingram Micro, and IBM.
The company has been associated with NPCI to handle the security assessment for UPI applications since 2017.
At the same time, the company also caters to the two largest stock exchanges -- the BSE and National Stock Exchange to address cybersecurity vulnerabilities across the trading process in real-time.
Over the years, TAC Security has expanded its global footprint, serving over 200 clients across 15 countries. Notable clients include US State governments, DSP Mutual Fund and Bandhan Bank, and some Fortune 500 companies.
Gartner Peer Insight has ranked TAC Security as a Customer First Company in the Vulnerability Management category, and Google has enlisted it as a security partner.
The company's diverse product line, including ESOF VMP and ESOF CRQ, reflects its comprehensive approach to cybersecurity.
The risk-based vulnerability management tools market has gained momentum in recent years.
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