SquareX, led by Indian cybersecurity expert and serial entrepreneur Vivek Ramachandran, is developing a browser-based cybersecurity product to keep consumers safe online. The company recently raised a mega seed round of USD 6 million from Sequoia Capital Southeast Asia and is now gearing up to launch the product globally.
The digital revolution greatly enhanced convenience for consumers globally. However, this transformation has also brought forth an alarming increase in online scams and hacks, posing significant challenges for individuals. The current security solutions such as antivirus software, anti-malware tools, and VPN solutions, have seen minimal innovation in addressing the evolving threats. Recognizing the inadequacy of these solutions and drawing inspiration from the Indian government and RBI’s efforts to educate the public about emerging threats, Vivek, an Indian-born entrepreneur, has launched SquareX. With a consumer-centric approach, SquareX is crafting a ground-zero cybersecurity product specifically tailored to tackle the ever-evolving threats in today’s digital landscape.
Before the product’s international release, SquareX is launching a Bug Bounty program to invite hackers, security researchers, technologists and the community to hack-test its product and find security vulnerabilities in it. Traditionally, it has been unheard of for security companies to launch such a program before the product goes live but SquareX recognizes the importance of real world battle-testing of its product’s vulnerabilities. And is optimistic that this decision will inspire other enterprises globally, and those in India to do the same.
To incentivize and reward the bug bounty hunters, SquareX is offering rewards totaling up to INR 20,00,000 for successfully discovered and reported vulnerabilities. The Bug Bounty program will span over six weeks from Thursday, 15 June 2023 to Thursday, 27 July 2023.
Vivek Ramachandran, Founder of SquareX, said, “SquareX has a strong culture of research and hacking, with multiple members having previously discovered security vulnerabilities and having disclosed them at top security conferences.” He also added, “We realise the contribution of the Indian ethical hacker and researcher community and know that they have successfully won bug bounties globally. Their skills and achievements in the realm of cybersecurity are unparalleled, and we recognize the immense value they bring to the table. So, I would personally want to invite the exceptional Indian hacker community to participate in the bug bounty and help battle test SquareX’s product and features.”
SquareX believes that the involvement of Indian hackers along with the community at large Indian universities, private colleges, cyber security groups in India will help SquareX to create a resilient product that will provide users with the utmost protection in an increasingly dangerous digital landscape.