Sequoia Capital invests Rs. 60 crores in quick heal technologies

By Representative:
Ahmedabad: Sequoia Capital India today announced that it has invested INR 60 crore in Quick Heal Technologies, India's leading provider of computer security software products. This investment will help Quick Heal Technologies in growing its product portfolio, expanding its global distribution footprint and funding future acquisitions. Quick Heal Technologies has been growing at a CAGR of almost 100% for the last three years, making it the fastest growing software product company in the computer security space in India. The Company registered revenues of more than INR 100 crore in FY 09-10, all from its indigenously developed product portfolio. With this investment Sumir Chadha, Managing Director, Sequoia Capital will join the board of the company.

Sumir Chadha, Managing Director, Sequoia Capital India said, "Quick Heal is today the first choice computer security product for consumers and business owners. We are confident that the company will continue to strengthen their dominant position in India and replicate this success in overseas markets."

Quick Heal has a suite of award-winning computer security products that are installed in corporate, small businesses and consumer's homes protecting their computers from viruses and other security threats. The Quick Heal Total Security product, addresses a wide range of distinct security needs that protect the PC from online and offline threats, in addition to providing privacy protection and PC optimization. The company also added a unique feature to Quick Heal Total Security called the PC2Mobile Scan, which enables users to scan, detect and delete malware, spyware and viruses from mobile phones.

Kailash Katkar, Managing Director and CEO, Quick Heal Technologies said, "We are proud to have Sequoia Capital partner us in our quest to be a global market leader in computer security. While we continue to build on the strong platform in the domestic market, we will also look to expand our global network through organic and inorganic growth."

Sanjay Katkar, Chief Technology Officer, Quick Heal Technologies said, "The Quick Heal brand is today synonymous with high quality computer security solutions for consumers and business owners. We will invest in strengthening our product portfolio to expand our product offerings to cater small, medium and large corporations."

The investment transaction was facilitated by RippleWave Equity. RippleWave is the sole financial advisor to this transaction and helped bring Sequoia and Quick Heal together.