CloudSEK introduced the completion of its Series A2 and B1 funding rounds on Tuesday. The cybersecurity platform mentioned that it has raised $19 million (roughly Rs. 162.3 crore) within the mixed funding spherical. The spherical witnessed participation from each Indian and US-based traders, the corporate said. While new traders have been onboarded, the prevailing backers proceed to be a part of the corporate. CloudSEK mentioned that the funds shall be used to scale its synthetic intelligence (AI) fashions and combine the know-how into its platform.
CloudSEK’s Funding Round Witnesses Global Participation
In a press launch, the AI-powered cyber risk prediction and intelligence platform introduced that it has raised funding acorss its mixed Series A1 and B1 spherical. While the corporate didn’t point out who led the spherical, the funding witnessed traders corresponding to MassMutual Ventures, Inflexor Ventures, Prana Ventures, Tenacity Ventures, in addition to strategic traders, together with Commvault. The firm’s present backers together with Meeran Family (founders of Eastern Group), StartupXSeed, Neon Fund, and Exfinity Ventures are persevering with to carry stake within the agency, and will not be exiting.
The newest funding spherical comes 4 years after its Series A spherical, which was led by MassMutual Ventures. CloudSEK raised $7 million (roughly Rs. 59.8 crore) in its 2021 funding spherical and it raised $1.9 million (roughly Rs. 16.2 crore) in its pre-Series A spherical in 2018.
CloudSEK said that the newly raised capital shall be used for product innovation and international growth. The fundamental focus shall be on scaling its AI fashions and platform integration. Notably, the corporate has an in-house predictive cybersecurity platform for risk detection and intelligence. The firm claimed that as a substitute of responding after a breach, it identifies preliminary assault vectors (IAVs), that are the earliest indicators of a possible breach. These embody leaked credentials, uncovered utility programming interfaces (APIs), or compromised distributors.
“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,” mentioned Rahul Sasi, Co-Founder and CEO of CloudSEK.
Notably, CloudSEK was based in 2015 by cybersecurity researcher Rahul Sasi. It is alleged to have greater than 250 enterprises as shoppers throughout banking, healthcare, know-how, and the general public sector.
