Hackrew, a cybersecurity firm based in Hyderabad, reported a revenue increase from Rs 44.93 lakh in FY22 to Rs 57.96 lakh in FY23.
Founded in 2018 by Sai Krishna Kothapalli, the data security company caters to any business with an online presence that needs to protect its data. The company identifies vulnerabilities in clients’ data infrastructure and provides solutions to fix them either by their team or the client’s internal team.
The company’s expenses escalated from Rs 39.14 lakh in FY22 to Rs 52.09 lakh in FY23, with employee benefits alone accounting for over 50% of the total expenditure. Cost of materials, legal and professional fees, and depreciation also contribute significantly to the expenses.
Hackrew has not yet raised any funding and the current valuation remains undisclosed. Competing with Securitybulls and Seconize, Sai Krishna Kothapalli holds the majority of the share in Hackrew which is more than half of the company. The shares of the company is divided between the founder and Sravani Kothapalli.
Though the data security firm recorded a revenue rise, its profits declined to Rs 3.86 lakh in FY23 from Rs 4.33 lakh in FY22. Its current EBITDA margin and ROCE declined to 11.47% and -175.63% respectively.