Cybersecurity startup CloudSEK bags $7 million in funding led by MassMutual Ventures
Indian-based cybersecurity firms are gradually establishing themselves. CloudSEK, a Singapore-based cybersecurity business with most of its operations and engineering in India, has raised $7 million in Series A funding, its largest amount to date.This round, sponsored by MassMutual Ventures, brings CloudSEK’s total funding to roughly $10 million.
BeVigil and XVigil are two of the company’s solutions that specialize in threat monitoring and threat intelligence. Both of these solutions make use of the company’s AI engine, which analyzes the Internet for risks that may be of interest to its clients and warns them so that they can take protective actions.The money will be used to scale CloudSEK’s team of 100 engineers in order to evolve and polish its machine-learning skills, as well as to expand the company’s marketing strength outside of India, according to Rahul Sasi, the company’s founder and chairman. Currently, roughly 40% of the company’s revenue comes from outside the country, primarily through incoming leads from those who utilise the company’s free widget.
CloudSEK will use the funds to increase its marketing efforts in markets such as the United States, the Middle East, and Europe. Because of the increased awareness of cyber dangers and the resulting spending, these markets have traditionally been more profitable for cybersecurity companies.Sasi, who has been working on the machine-learning engine for some years, claims that demand for cybersecurity goods has increased in India as well, particularly as a result of the epidemic. He discusses how pharma corporations that previously did not invest in threat monitoring are now investing in technologies like XVigil.
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