Cybersecurity start-up CloudSEK raises Rs 50 crore in Series A funding
Cybersecurity start-up CloudSEK has raised $7 million (Rs 50 crore) in its Series A investment led by MassMutual Ventures.
The Series A funding also saw participation from Omidyar Network India, 100X Entrepreneur, individual investors Firoz Meeran and Navas Meeran (Eastern Group), and CRED founder Kunal Naresh Shah’s QED Innovation Labs, along with investments from pre-Series A investors Exfinity Venture Partners, IDFC Parampara, and Aaruha Technology Fund. This brings the total investment in CloudSEK to $10 million.
The current funding round will be leveraged to accelerate CloudSEK’s sales and marketing efforts across Asia-Pacific, the Middle East, and North America. The company will also ramp up its research and development to combat the increasingly sophisticated global threat landscape.
“Our technology focus is to predict cyber attacks even before they occur, by leveraging our AI platform. To achieve this, we have assembled a world-class team of engineers, researchers, and cybersecurity experts. This approach has taken us from six customers to over a hundred, and we aim to acquire another 300 customers within the next two years,” said Rahul Sasi, Founder and Chairman, CloudSEK.
CloudSEK uses unique data sets, proprietary ML models, and non-intrusive techniques to identify, analyse, and resolve cyber threats proactively. Given the growing complexity of cyber attacks and their far-reaching impact, the firm continuously evolves XVigil, its flagship digital risk monitoring platform. XVigil currently caters to organisations across verticals, including some of the world’s top banks, tech companies, healthcare organisations, and retail giants such as ICICI, NPCI, CRED, Sun Pharma, Reliance, Tokopedia, OLA cabs, and Decathlon, a company statement said. CloudSEK also recently launched the world’s first security search engine BeVigil, which helsp users, developers, and researchers evaluate the security of their applications. BeVigil is currently free to use and has over 10,000 users and above 400 corporate accounts. With significant community interest, the platform is adding over 1000 unique users per month, it added.
“Since our last funding, we have enjoyed accelerating adoption of CloudSEK XVigil across APAC, Middle East, and North America. Marquee anchor customers in each region, coupled with our extremely high customer satisfaction rates, have allowed us to consolidate our presence in these regions. We intend to use the new funding to rapidly scale up this approach globally and quickly expand to new markets,” said Sourabh Issar, chief executive officer of CloudSEK.
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