Cyber Security start-up CloudSEK raises fresh funding from IDFC-Parampara

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 2.5 M USD 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.

About CloudSEK: CloudSEK is the brainchild of Rahul Sasi and was founded in 2015 with its headquarter in Singapore and 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.

CloudSEK’s founder Rahul Sasi and CEO Sourabh Issar spoke about the funding, and the company’s plans going forward:

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 – said 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.

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About Rahul Sasi- Founder CTO- CloudSEK

Rahul has been in the cybersecurity space ever since he was in college, back in 2006. He was a contributing member to various cybersecurity forums and open source projects. In 2009 (last year of Engineering), he got a 6-month internship opportunity with iSight Partners, a Cyber Security start-up. Unfortunately, the college rules did not allow him to take it up, and he had a choice to make. Which he did and decided to follow his heart. He quit engineering and went to work for iSight. There was no looking back from there. At iSight, he was the first technical researcher for their office in India. With all the after office hours he spent on research, he made a name for himself in the chaotic world of Cybersecurity and got invitations to over 18 countries as a speaker. Later in 2015 iSight got acquired by FireEye. That’s when he decided to bring together the emerging disciplines of machine and Cybersecurity together and founded CloudSEK

About Sourabh Issar, CEO- CloudSEK:

Sourabh’s exposure to Cybersecurity started as early as 1999. At the turn of the century, late 1990s, viruses were coming of age, cross-border cyber terrorism was picking up and IIM Calcutta had a campus full of “fresh out of IIT” computer engineers trying their hands at all kinds of gray areas. As IT Rep, he was responsible for the security of the entire technology infra of the campus. And the best experience he could ever get in cybersecurity. The next few years, he spent in pursuing the “American dream”. He worked with the likes of Wipro, HCL, Mastek, and Mphasis. He helped a number of marquee Fortune 500 companies achieve their digital inspirations with leadership roles in sales, marketing, and product management. After 10 years, and having lived the dream, he again got restless, and yearned for the innovation and action happening back in India. He moved back with family to India and started focusing on cybersecurity, automation and AI. That’s when he met Rahul and joined CloudSEK.

About Exfinity Ventures Partners: Exfinity Venture Partners is an early-stage frontier technology fund backing enterprise companies (B2B) in India and across the India-US business corridor. With established connections and ecosystem across India and USA, Exfinity focuses on pioneering startups that are ready to scale across the global stage. Exfinity follows a practitioner-driven Investment approach knowing what it takes to build, scale and list technology companies in India and the USA. For more information, visit HYPERLINK “http://www.exfinityventures.com/”www.exfinityventures.com.

About M.E. Meeran Trust: M.E Meeran Foundation is the investment arm of Kochi based Eastern supporting ideas, social interests and ventures across India. The unique, dream based approach has seen the Foundation support ventures in education, agriculture, healthcare and emerging technologies.

About StartupXseed Ventures: StartupXseed is a Seed-stage VC firm led by bureaucrat-turned-VC investor Mr. B.V. Naidu. It is backed by former Infosys board members Mr. V Balakrishnan and Mr. TV Mohandas Pai, along with Mr. Ramakrishnan (Ex CDO and M&A head – HCL), Mr. Siddhartha Mookerji (Founder – Software Paradigm International) and Mr. Ravi Thakur (Entrepreneur). It invests from Aaruha Technology Fund, whose focus is Deep Technology Start-ups creating products for B2B Businesses. For more information, visit HYPERLINK “http://www.startupxseed.in/”http://www.startupxseed.in

About IDFC-Parampara: IDFC-Parampara Early Stage Opportunities Fund, with offices in Mumbai and Hyderabad, was launched by Venkat Vallabhaneni, Jatin Desai and Sridhar Rampalli. The Fund seeks to make pre-Series A investments in companies across sectors where technology, intellectual property and innovation are primary differentiators.

Media Contact: Pritish Kumar Rathor Mob: 7631092317 Email:[email protected]