New Delhi, Jan 1 Cybersecurity firm TAC Security on Monday said that the company is exploring capital raising options, including an Initial Public Offering (IPO) in early 2024 and eyeing revenue of Rs 100 crore by 2026.
Beeline Capital Advisors Private Limited has been appointed the exclusive Book Running Lead Manager for the proposed IPO, the company mentioned.
"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," Trishneet Arora, Founder and CEO, TAC Security, said in a statement.
The company also mentioned that it is aiming for 10 million global clients. Moreover, the cybersecurity firm said that it received backing from stock market maven Vijay Kedia in 2016, fortifying its position in the market.
Notably, TAC Security has onboarded marquee professionals comprising industry stalwarts like Subinder Khuranna, William May, Dr Siva Sivasubramanian, and US Army Brigadier General Raphael Warren to its Advisory Board.
TAC Security has also established strategic partnerships with industry leaders like TechMahindra, Deloitte, Ingram Micro, and IBM.
The company's diverse product line, including ESOF VMP and ESOF CRQ, reflects its comprehensive approach to cybersecurity. It has been associated with NPCI to handle the security assessment for UPI applications since 2017.
Over the years, TAC Security has expanded its global footprint, serving over 200 clients across 15 countries.
Notable clients include the US State Government, HDFC Limited, DSP Mutual Fund, Bandhan Bank, and Fortune 500 companies.
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