[India], Nov 30 (ANI): CloudSEK, an information security risk management SaaS-based start-up has raised Rs. 14 crores in its Pre-Series A investment led by Exfinity Venture Partners and StartupXseed.
CloudSEK will leverage the freshly raised funds to evolve its flagship product XVigil, a unified risk management platform. The company will also use the funds to expand its footprints in India and South East Asia.
A brainchild of Rahul Sasi, CloudSEK was founded in 2015, at its headquarter in Singapore and an operational center in Bengaluru, India.
CloudSEK, a cybersecurity platform powered by machine learning, entails Rahul's journey from being a college dropout to becoming a successful tech entrepreneur. Being criticized for dropping out of engineering college and predicted for a career failure, Rahul continued his journey as an ethical hacker and security expert through his successful career. Before co-founding CloudSEK, he has worked with Citrix Systems, one of the biggest names in the software industry.
"Being a product-only organization our revenues are generated primarily through license sales. This investment for us is a vote of confidence from some of the eminent architects of the Indian IT Industry. We plan to utilize the funds to develop the existing products and expand our presence in India as well as South East Asia," said Sourabh Issar CEO, CloudSEK.
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. Cloudmon, another product by CloudSEK tracks network and application related security issues associated with the client. The start-up was seed funded in 2015 by ME Meeran Foundation, the investment arm of Kochi based Eastern Group.
"CloudSEK's unique non-intrusive solution can detect digital footprint leakages of any enterprise in real-time helping the CSOs to strengthen the Cyber-Defence," said Chinnu Senthilkumar, General Partner & CTO, Exfinity Venture Partners.
"Technology is redefining the way Risk Management is being practiced and CloudSEK has forayed into that space with applications in Cyber Security. Looking at their product, clientele and growth rate, they have struck the right chord to crack the Business. Moreover, what fascinated us is their way of solving the problem which is very effective and scalable at large along with strong team background and execution capabilities," said Ravi Thakur, Partner - StartupXseed Ventures.
CloudSEK already 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.
"Federal Bank and CloudSEK have had a relationship since July 2017 and it is a relationship that has grown over the last few months. Cyber security is a key risk for the financial services industry and CloudSEK has played a key role in mitigating some of the risks we experience in the fast-changing digital world," said Shalini Warrier CFO, Federal Bank.
CloudSEK has been helping organizations by providing them timely, specific and actionable intelligence right on time thereby preventing digital security infractions. (ANI)