SG cybersecurity firm secures $7m in MassMutual-led round

Singapore-based CloudSEK, a cybersecurity startup, has raised US$7 million in a series A financing round led by MassMutual Ventures, with Omidyar Network India and 100X Entrepreneur also joining the round.

The CloudSEK team / Photo credit: CloudSek

CloudSEK uses data sets, proprietary machine learning models, and non-intrusive techniques to identify, analyze, and resolve cyber threats. XVigil, its flagship digital risk-monitoring platform, caters to companies like Tokopedia, ICICI, National Payments Corporation of India, Cred, Sun Pharma, Reliance, Ola Cabs, and Decathlon.

CloudSEK will use the fresh funds to bolster its sales and marketing efforts across the Asia Pacific, the Middle East, and North America. It will also ramp up its research and development.

See also: The stunning rise of India’s ethical hacking industry

“Humans can accurately predict rain with the help of data sources and mathematical models. Cloudsek aims to do something similar in the cyber space,” said Rahul Sasi, founder and chairman of CloudSEK.

Sasi, security engineer and analyst, founded the company in 2015. So far, the firm has onboarded over 100 customers and aims to acquire another 300 customers in the next two years.

The funding round comes amid an evolution in the managed service landscape as Southeast Asian countries look to address gaps in infrastructure. The market is poised to grow at a compounded annual growth rate of 15% by 2025.

With the latest investment round, the company has raised nearly US$10 million to date.

Other existing investors that participated in the round include:

• Exfinity Venture Partners
• IDFC Parampara
• StartupXseed Ventures