India's CloudSEK raises $10 mn from US state-backed fund Connecticut Innovations

Bengaluru-based cybersecurity firm CloudSEK on Tuesday said it has raised $10 million (around ₹90 crore) from Connecticut Innovations, the strategic venture capital arm of the State of Connecticut in the US.

With this investment, CloudSEK becomes the first Indian-origin cybersecurity company to receive funding from a US state-backed venture fund, the company said in a statement.

The funding marks the closure of CloudSEK’s Series B round, following its earlier $19 million Series B1 raise. The latest B2 tranche includes a mix of primary and secondary capital. The predictive cyber threat intelligence firm has now raised about $39 million to date at an enterprise valuation of close to $200 million.

CloudSEK co-founder and chief executive Rahul Sasi said the investment strengthens the company’s global ambitions and underscores the growing recognition of Indian cybersecurity innovation worldwide. “Becoming the first Indian-origin cybersecurity company to receive backing from a US state fund is a milestone for CloudSEK and for the entire Indian cybersecurity ecosystem,” he said.

The company plans to use the fresh capital to expand its presence in the US and create high-skilled jobs. CloudSEK currently has a five-member team in the US, which it plans to scale up to 15 by March and around 20 over the next 12–18 months.

CloudSEK has about 20 customers in the US and aims to grow that base to 200 clients over the next year, Sasi said.

Founded in 2015 by cybersecurity researcher-turned-entrepreneur Rahul Sasi, CloudSEK has grown from a research-led initiative into a global cyber threat intelligence platform, serving more than 300 enterprises across BFSI, healthcare, technology and government sectors.

The company currently employs around 250 people globally and plans to scale up to 300 employees by March, including a 200-member team in India.

Alison Malloy, managing director, investments at Connecticut Innovations, said CloudSEK stood out at the firm’s 2025 VentureClash India pitch event for its predictive threat intelligence capabilities used by hundreds of businesses worldwide. “We are excited to welcome CloudSEK to the CI portfolio and look forward to supporting their team as they establish their US hub,” Malloy said.