WestBridge Capital has recently acquired around $236M stake in Zscaler which is an Indian cloud security organization. With this investment, Zscaler has become the 2nd biggest SaaS company listed in the WestBridge Capital investment portfolio.
On Tuesday, Zscaler has appointed Syam Nair as its incumbent CTO (Chief Technology Officer) and EVP (Executive Vice President) of Research and Development.
Zscaler stated that it is expecting the revenue generation between $415 million and $419 million which is much higher for the third quarter than its expectation of $396-$398 million for 2023. The company will make a formal statement on June 1 once the market gets close.
In the last few years, WestBridge Capital has invested in various Indian tech companies that are non-listed.
In June 2022, WestBridge Capital also invested in a Bengaluru-based startup company with $153 million funding round for Series C. Additionally, Upekkha, also received $9 million to invest in SaaS startups that are earlier in their business growth.