Cybersecurity start-up CloudSEK raises $7 million in Series A funding

The funding also attracted investments from Omidyar Network, 100X Entrepreneur, individual investors Firoz Meeran and Navas Meeran (Eastern Group), as well as from the CRED founder.

Image for representational purpose only. ( Express Illustration)

BENGALURU: Cybersecurity start-up CloudSEK, which leverages Artificial Intelligence and Machine Learning to combat cyber threats, has raised $7 million(Rs 50 crore) in its Series A investment led by MassMutual Ventures. 

The funding also attracted investments from Omidyar Network, 100X Entrepreneur, individual investors Firoz Meeran and Navas Meeran (Eastern Group), as well as CRED founder Kunal Shah's QED Innovation Labs. 

Existing investors Exfinity Venture Partners, IDFC Parampara, and StartupXseed Ventures also participated in this round of investment.  

With this, the total investments in CloudSEK now comes to $10 million. 

Singapore-headquartered CloudSEK was founded in 2015, by cybersecurity expert Rahul Sasi.  

"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," said Sasi, who is the Founder and Chairman of the company.

At present, the start-up has over 100 customers, and it aims to acquire another 300 customers in the next two years.

CloudSEK employs unique data sets, proprietary ML models, and non-intrusive techniques to identify, analyse, and resolve cyber threats proactively. The start-up also evolves its flagship digital risk monitoring platform XVigil. 

XVigil currently caters to organisations across verticals, including top banks, technology companies, healthcare organisations, and retail giants such as ICICI, NPCI, CRED, Sun Pharma, Reliance, TokoPedia, OLA cabs, and Decathlon.