Lucideus, a cyber risk assessment services and platforms, have raised $7 million in a funding round led by California-based MS&AD Ventures, along with participation by venture capital firm Western Technology Investment. The company was founded by Saket Modi, Vidit Baxi & Rahul Tyagi in 2012.
The company will use the funds to double its engineering and sales teams in the next three months and scale up the Security Assessment Framework for Enterprises (SAFE) – which helps businesses measure and mitigate cyber-risks in real-time. It also plans to ramp up its operations in the United States.
In a media statement, Saket Modi, co-founder & CEO, Lucideus, said: “Last year, we had a triple digit revenue growth with a net promoter score (NPS) of 86, and we intend to continue growing at this pace next year. With this intent, we feel this new round of investment has a strategic overlap for our platform to reach out to a larger audience across the world while continuing to strengthen our leadership across Asia.”
Lucideus is an Enterprise Cyber Security platforms company incubated from IIT Bombay and backed by Cisco’s former chairman and CEO John Chambers. It protects multiple Fortune 500 companies and governments around the world.
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