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CloudSEK Secures $10M from US State Fund, First Indian Cybersecurity Firm to Do So

Bengaluru-based cybersecurity firm CloudSEK has raised $10 million from Connecticut Innovations, becoming the first Indian-origin company in its sector to secure investment from a US state-backed venture fund. The funding completes its Series B2 round, bringing total funds raised to approximately $39 million at a valuation close to $200 million. CEO Rahul Sasi stated the capital will fuel global expansion, specifically scaling US operations and creating high-paying jobs. The company plans to significantly grow its US team and client base over the next year.

Key Points: CloudSEK Gets $10M from US State Fund, First Indian Firm

  • First Indian-origin cybersecurity firm backed by US state fund
  • Total funding now ~$39M at ~$200M valuation
  • Funds to expand US team from 5 to 20 people
  • Aims to grow US client base from 20 to 200
2 min read

CloudSEK becomes 1st Indian-origin cybersecurity firm to secure $10 million from US state-backed fund

Bengaluru's CloudSEK raises $10M from Connecticut Innovations, marking a first for an Indian-origin cybersecurity company and fueling US expansion.

"a significant moment for the wider Indian cybersecurity industry - Rahul Sasi"

New Delhi, Jan 13

Bengaluru-based cybersecurity firm CloudSEK on Tuesday announced that it has raised $10 million, or about Rs 90 crore, from Connecticut Innovations, the strategic venture capital arm of the US state of Connecticut.

With this investment, CloudSEK has become the first Indian-origin cybersecurity company to receive backing from a US state-backed venture fund, marking a major milestone for the firm as well as for India's cybersecurity ecosystem.

The latest funding forms part of CloudSEK's Series B2 round, completing its overall Series B fundraising.

Earlier, the company had raised $19 million in its Series B1 round. With this tranche, CloudSEK has now raised a total of around $39 million so far, at an enterprise valuation close to $200 million.

CloudSEK co-founder and chief executive officer Rahul Sasi said the investment strengthens the company's global expansion plans and reflects growing global confidence in Indian cybersecurity innovation.

He said the funding from Connecticut Innovations is not just important for CloudSEK, but also a significant moment for the wider Indian cybersecurity industry.

Sasi said the fresh capital will be used to expand CloudSEK's presence in the United States and create high-end, well-paying jobs.

The company currently has a five-member team in the US, which it plans to scale up to 15 by March and around 20 people over the next 12 to 18 months.

CloudSEK currently serves about 20 clients in the US and aims to expand this number to 200 customers over the next year.

Founded in 2015, CloudSEK started as a research-focused initiative and has since grown into a global cyber threat intelligence platform.

The company now serves more than 300 enterprises across sectors such as banking and finance, healthcare, technology and government.

CloudSEK currently employs around 250 people across markets and plans to increase its workforce to 300 by March, including a 200-member team in India.

Welcoming CloudSEK to its portfolio, Connecticut Innovations said it looks forward to supporting the company as it builds and scales its US operations.

- IANS

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Reader Comments

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Priyanka N
Great to see Indian startups getting global recognition. However, I hope this expansion and job creation in the US also translates to more high-quality R&D and engineering roles back home in India. The brain drain is a real concern.
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Aman W
From a research initiative in 2015 to a $200M valuation! What a journey. This proves that with the right idea and execution, Indian tech firms can compete on the world stage. Jai Hind!
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Sarah B
As someone in the tech industry, this is significant. Connecticut Innovations is a serious player. This investment will open doors for other Indian cybersecurity companies looking for US market entry. Well done CloudSEK!
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Karthik V
ज़बरदस्त! (Zabardast!) Raising funds is one thing, but getting backing from a US state's strategic fund is another level. It shows trust in our data security standards and innovation. Hope they keep their core team strong in India.
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Nikhil C
Good news, but the article says they aim for 200 US clients. I hope they don't neglect the Indian market and government contracts. Our own cybersecurity needs are growing exponentially. Domestic focus is equally important.

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