Artificial Intelligence based Digital Risk Management and cybersecurity platform provider CloudSEK has raised further funding from IDFC Parampara. Founded in 2015 by renowned cyber security expert Rahul Sasi, the company had raised $2.5M in pre-series A till date.
Currently it has investors like Exfinity Ventures, former Infosys board member V Balakrishnan, StartupXseed Ventures (who recently exited their Cyber-security investment, ShieldSquare), ME Meeran trust.
CloudSEK will leverage the freshly raised funds to evolve its product Xvigil. Furthermore, it will also use the funds to expand its footprints in India and South East Asia. After establishing itself as a preferred cybersecurity solution in the financial, e-commerce and transportation sector, CloudSEK now plans to target the pharmaceuticals, petrochemicals and retail industry. Axis Bank, Federal Bank, NPCI, OLAM, L&T, Go-Jek, HDFC Bank, Bank Bazaar are in CloudSEK’s client list.
CloudSEK is headquartered in Singapore and has an operational center in Bengaluru, India. The Brand offers cybersecurity platform powered by machine learning and promises to build a risk-free digital security ecosystem. It has been helping organizations by providing them timely, specific and actionable intelligence, thereby preventing digital security infractions. The start-up promises to build a risk-free cyber security ecosystem in Asia. The exclusive gamut of cyber security tools offered by CloudSEK is all set to make India ready for what is being assumed to be the next phase of the digital revolution. The client tail includes leading banks, e-commerce and technology organizations in its clientele. Federal Bank, Go-Jek, Bank Bazaar, HDFC Bank and Grab Taxi are in CloudSEK’s client list, five of which are unicorns.
“Cloudsek has developed a much needed product to scan and monitor the dark web, deep web and surface web threats. They provide actionable intelligence leveraging their AI/ML based deep technology and domain expertise, that helps protect the digital assets of any enterprise, including the infrastructure. This fits in very well with IDFC-Parampara’s fund theme of technology IP/innovation based investments,” said Jatin Desai, General Partner of IDFC-Parampara Fund.
"With the increasing awareness about CyberSecurity, we are seeing urgency in the demand, which has translated into us doubling our revenues in the last 4 months. This vote of confidence from IDFC Parampara is a welcome validation of this momentum and acceleration that we have been witnessing," added CloudSEK CEO, Sourabh Issar.
CloudSEK offers cybersecurity platform powered by machine learning and promises to build a risk-free digital security ecosystem. X-Vigil, CloudSEK’s SaaS-based flagship product is an outcome of the company’s 4 years of diligent research and development efforts.