CloudSEK has raised $7 million (Rs 50 crore) in its Series A funding round, bringing the total fundraise by the cybersecurity firm to USD 10 million. The financing round, led by MassMutual Ventures, also saw the partiipation of 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 existing investors Exfinity Venture Partners, IDFC Parampara, and Aaruha Technology Fund.
The proceeds from the current round will be leveraged to accelerate sales and marketing efforts across Asia-Pacific, the Middle East, and North America. The company said it 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 claims it employs unique data sets, proprietary ML models, and non-intrusive techniques to identify, analyze, and resolve cyber threats proactively. The company said it will use new funding to rapidly scale up this approach globally and quickly expand to new markets. The company specialises in threat monitoring and threat intelligence and has two products — BeVigil and XVigil. At present, the company has been seeing around 40% of its business coming from outside the country, mostly through incoming leads from those who use the company’s free widget.