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CloudSEK a Bengaluru-based cybersecurity company, has raised USD 10 million from Connecticut Innovations (CI), the venture capital arm of the US state of Connecticut, as part of its Series B2 funding round.
With this investment, CloudSEK has become the first Indian-origin cybersecurity firm to receive funding from a US state-backed venture fund. The latest tranche concludes the company's Series B round, following a USD 19 million Series B1 raise. The B2 round includes a mix of primary and secondary capital.
The funding comes after CloudSEK was selected as a top startup at VentureClash a global investment pitch competition organised by Connecticut Innovations.
Founded in 2015 and now headquartered in Singapore, CloudSEK provides cybersecurity risk monitoring and intelligence services. The company currently serves over 300 enterprise customers across sectors such as banking and financial services, healthcare, technology, and government.
According to the company, the fresh capital will be used to support its expansion in the US. CloudSEK plans to set up its regional hub in Connecticut to manage operations, recruit talent and develop partnerships. It is also preparing to hire local cybersecurity and artificial intelligence professionals and work with universities and research institutions in the state.
Earlier, CloudSEK's Series B1 round was led by US-based strategic investor Commvault. Other participants included MassMutual Ventures, Inflexor Ventures, Prana Ventures and Tenacity Ventures. The company's early backers include Meeran Family (Eastern Group), StartupXSeed, Neon Fund and Exfinity Ventures.
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