Security apps and software firm Quick Heal has appointed Vijay Mhaskar as Chief Operating Officer. At the company he will be responsible providing strategic inputs and direction for building the brand, culture and overall business growth. In addition, Mhasker will also be leading Seqrite, the enterprise security solutions brand by Quick Heal.
Mhasker joins Quick Heal from Avaya India where he served as senior director for research and development. He was responsible for providing leadership to the engineering teams while ensuring development and delivery of Avaya’s Unified Collaboration and Contact Center Products and Solutions.
Prior to Avaya, he was a vice president at Symantec India where he led engineering organization for three product lines, NetBackup, BackupExec and Enterprise Vault.
Quick Heal was started out in 1993 as CAT Computer Services (P) Ltd and functioned primarily as a computer service center. It pivoted its business and pioneered anti-virus research and development in India. Kailash Katkar functions as the chief executive officer while Sanjay Katkar operates as the company’s chief technology officer.
The company counts the likes of Just Dial and Apollo Hospitals among its largest enterprise customers. The company claims more than 17 million active customers and installations in more than 25,000 small, medium and large enterprises. Quick Heal also says that its revenue mix is 70% in retail and about 30% in corporate.
In February, Quick Heal raised Rs 133.87 crore through anchor investors (AIs) as a part of its IPO. The firm raised this by selling 4.17 million equity shares to 10 anchor investors at Rs 321 per share. Sequoia Capital had invested Rs 60 crore in the company way back in 2010 and held about 10% of the company’s shares. The venture capital firm diluted its stake to about 4.6% in the company.
Financials: According to the company’s draft red herring prospectus, Quick Heal reported a revenue of Rs 292.5 crore, compared with Rs 253.7 crore the previous year. It reported a profit of Rs 56 crore in 2014-15 as compared to Rs 61.5 crore a year ago.