CloudSEK Bags $10M US State Fund Boost for Global Ambitions
Overview
Cybersecurity firm CloudSEK announced a $10 million funding round from Connecticut Innovations, the venture capital arm of the U.S. state of Connecticut. This investment marks a milestone for Indian-origin cybersecurity companies and will fuel CloudSEK's expansion in the United States, including significant job creation.
CloudSEK Lands $10 Million from US State Investor
Cybersecurity firm CloudSEK announced Tuesday it has secured $10 million in funding from Connecticut Innovations, the strategic venture capital arm of the State of Connecticut. This significant capital infusion marks a notable achievement for an Indian-origin cybersecurity company, bringing its total funding to $29 million to date.
US Expansion and Job Creation
The fresh capital is earmarked for expanding CloudSEK's presence in the United States. CEO Rahul Sasi stated the funds will be used for creating high-paying jobs in the U.S., with plans to grow their U.S. team from 5 to 15 by March and significantly increase their customer base there. The company currently serves 20 clients in the U.S. and aims to reach 200 within the next twelve months.
Valuation Milestone
The investment round values CloudSEK at close to $200 million. Sasi highlighted this backing from a U.S. state fund as a milestone for both CloudSEK and the broader Indian cybersecurity ecosystem, signaling growing international recognition for domestic innovation. The company plans to scale its global workforce to 300 by March, with a substantial 200-member team based in India.
Investor Confidence
Connecticut Innovations, represented by Alison Malloy, recognized CloudSEK's distinction as an innovative provider of predictive threat intelligence. The firm's investment in CloudSEK underscores growing confidence in emerging cybersecurity solutions and the potential of companies originating from India's tech sector.
