CloudSEK, a Singapore-based cybersecurity firm, announced Wednesday it has raised $7 million in its Series A investment led by MassMutual Ventures. This brings the total investment in CloudSEK to about $10 million.
The Series A funding also saw participation from Omidyar Network India, 100X Entrepreneur, individual investors Firoz Meeran and Navas Meeran, and CRED Founder Kunal Naresh Shah’s QED Innovation Labs.
Existing investors Exfinity Venture Partners, IDFC Parampara, and StartupXseed Ventures also participated in the round.
“Humans can accurately predict rain with the help of data sources and mathematical models. Cloudsek aims to do something similar in the cyber space. 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 6 customers to 100+ customers, and we aim to acquire another 300 customers in the next 2 years,” CloudSEK Founder and Chairman Rahul Sasi said in a statement.
According to the statement, the current round of funding will be leveraged to accelerate CloudSEK’s sales and marketing efforts across Asia-Pacific, the Middle East, and North America. CloudSEK will also ramp up its research and development to combat the increasingly sophisticated global threat landscape.
“Since our last funding, we have enjoyed accelerating adoption of CloudSEK XVigil across Asia Pacific, 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 have seen great results with our ‘Remote First’ go-to-market approach, which we refined and perfected during the pandemic,
“We intend to use the new funding to rapidly scale up this approach globally and quickly expand to new markets. The participation of all our investors, in the latest round, is a validation of our approach and direction,” said Sourabh Issar, Chief Executive Officer of CloudSEK.
CloudSEK is an artificial intelligence-driven digital risk management enterprise. It was founded in 2015 by cybersecurity expert Rahul Sasi, with the aim to construct a future where intelligent machines can emulate human cognition to predict cyber threats even before they occur.
CloudSEK employs unique data sets, proprietary ML models, and non-intrusive techniques to identify, analyze, and resolve cyber threats proactively. Given the growing complexity of cyber-attacks, and their far-reaching impact, CloudSEK continuously evolves its flagship digital risk monitoring platform XVigil. XVigil currently caters to organizations across verticals, including some of the world’s top banks, technology companies, healthcare organizations, and retail giants such as ICICI, NPCI, CRED, Sun Pharma, Reliance, Tokopedia, OLA cabs, and Decathlon.
CloudSEK has also recently launched the world’s first security search engine BeVigil, which allows users, developers, and researchers to evaluate the security of their applications. BeVigil is currently free to use and has 10,000+ users and 400+ corporate accounts. With significant community interest, the platform is adding 1000+ unique users per month.
“CloudSEK is addressing a growing demand for automated assessment, classification and remediation of cyber threats and for transforming large scale security teams to an agile threat-centric approach. The platform’s ability to monitor and manage threats and infrastructure at the enterprise level is world class. We are very excited to partner with Rahul, Sourabh and team on their vision to build the leading AI-enabled platform for cybersecurity,” said Anvesh Ramineni, Managing Director at MassMutual Ventures.
MassMutual Ventures is a multistage global venture capital firm investing in financial technology, enterprise software, cybersecurity, and digital health companies. MassMutual Ventures’s sole limited partner is MassMutual, a Fortune 500 financial services company. It has offices in Boston and Singapore, with $450 million under management.
“We are delighted to see the continued growth of CloudSEK that validates its strengths as a global cybersecurity company out of South Asia. The ever-increasing need for Cybersecurity coupled with the shortage of skilled resources, is further accentuating the demand for security threat prediction capabilities that CloudSEK brings to the table,” said Chinnu
Senthilkumar, Managing Partner and CTO, Exfinity Ventures.