CloudSEK Info Security, a digital risk management and cybersecurity platform provider, recently raised $490,000 in a funding round from IDFC Parampara Early Stage Opportunities Fund. The Singapore-based company stated the new funds will be used to evolve its unified risk management platform Xvigil and also to expand its footprints in India and South East Asia.
Founded in 2015 by cybersecurity expert Rahul Sasi, CloudSEK develops artificial based software-as-a-service (SaaS) information security risk management solutions.
Powered by artificial intelligence and machine learning, CloudSEK helps organizations identify, assess, control, and monitor cyber threats in real time. The startup claims that its platform secures businesses across cyber threats, data leaks, identity thefts, fake applications, fake domains, fake pages, third-party interfaces, and infrastructure security.
Speaking on the new investment, CloudSEK CEO, Sourabh Issar said, “With the increasing awareness about CyberSecurity, we are seeing an 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.”
“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 an enterprise, including the infrastructure. This fits in very well with IDFC-Parampara’s fund theme of technology IP/innovation-based investments,” said, General Partner of IDFC-Parampara Fund, Jatin Desai in a media statement.