CloudSEK raised $19 million across its Series A2 and B1 funding rounds.
CloudSEK has more than 250 clients across banking, healthcare, technology, and the public sector
Photo Credit: CloudSEK
CloudSEK announced the completion of its Series A2 and B1 funding rounds on Tuesday. The cybersecurity platform said that it has raised $19 million (roughly Rs. 162.3 crore) in the combined funding round. The round witnessed participation from both Indian and US-based investors, the company stated. While new investors have been onboarded, the existing backers continue to be part of the company. CloudSEK said that the funds will be used to scale its artificial intelligence (AI) models and integrate the technology into its platform.
In a press release, the AI-powered cyber threat prediction and intelligence platform announced that it has raised funding acorss its combined Series A1 and B1 round. While the company did not mention who led the round, the funding witnessed investors such as MassMutual Ventures, Inflexor Ventures, Prana Ventures, Tenacity Ventures, as well as strategic investors, including Commvault. The company's existing backers including Meeran Family (founders of Eastern Group), StartupXSeed, Neon Fund, and Exfinity Ventures are continuing to hold stake in the firm, and are not exiting.
The latest funding round comes four years after its Series A round, which was led by MassMutual Ventures. CloudSEK raised $7 million (roughly Rs. 59.8 crore) in its 2021 funding round and it raised $1.9 million (roughly Rs. 16.2 crore) in its pre-Series A round in 2018.
CloudSEK stated that the newly raised capital will be used for product innovation and global expansion. The main focus will be on scaling its AI models and platform integration. Notably, the company has an in-house predictive cybersecurity platform for threat detection and intelligence. The company claimed that instead of responding after a breach, it identifies initial attack vectors (IAVs), which are the earliest signs of a potential breach. These include leaked credentials, exposed application programming interfaces (APIs), or compromised vendors.
“Today, over 60 percent of our net new revenue comes from international markets, with the US emerging as our fastest-growing region. We've achieved this scale while staying cash flow positive,” said Rahul Sasi, Co-Founder and CEO of CloudSEK.
Notably, CloudSEK was founded in 2015 by cybersecurity researcher Rahul Sasi. It is said to have more than 250 enterprises as clients across banking, healthcare, technology, and the public sector.
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