CloudSEK Secures USD 10 Million Boost: A New Era for Indian Cybersecurity

CloudSEK, an Indian cybersecurity firm, has raised USD 10 million from Connecticut Innovations, marking the first such investment by a US state fund in an Indian company. The funding will expand its US operations and client base while highlighting the growth of India's cybersecurity sector.

Indian cybersecurity company CloudSEK announced a significant financial milestone Tuesday, securing USD 10 million (around Rs 90 crore) from Connecticut Innovations, the venture capital arm of the State of Connecticut.

The investment not only accelerates CloudSEK's global growth but also exemplifies the increasing impact of Indian cybersecurity innovations, said Rahul Sasi, co-founder and CEO. As the first Indian cybersecurity firm to receive support from a US state fund, the funding serves as a landmark for both CloudSEK and the broader Indian cybersecurity ecosystem.

CloudSEK plans to utilize the funds to expand its workforce and client base in the United States. This expansion is set to boost their US team from five to fifteen by March, with potential growth to 20 within 18 months, creating high-paying jobs for top-tier talent. Currently serving 20 US clients, CloudSEK aims for 200 customers next year. With an enterprise valuation nearing USD 200 million, the company looks forward to strengthening its presence and influence worldwide.

(With inputs from agencies.)