Sunday 8 December 2019
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business-standard - 5 days ago

Lucideus raises USD 7 mn in funding led by MS AD Ventures, to hire 100 people in 3 months

Indian cyber security firm Lucideus on Tuesday said it has raised USD 7 million in funding (over Rs 50 crore) led by MS AD Ventures, the venture capital arm of Japanese insurance company MS AD Insurance Group Holdings. The funding round also saw venture debt coming in from Western Technology Investment (WTI), Lucideus co-founder and CEO Saket Modi told PTI. He added that the company has seen its valuation double in the last 10 months, which is now nearing USD 100 million. In October last year, Lucideus had announced raising USD 5 million (over Rs 36 crore) in funding led by Cisco Chairman Emeritus John Chambers. The fresh funds will be used to ramp up the company s operations in the US, double engineering and sales teams in the next three months and scale up the company s platform - Security Assessment Framework for Enterprises (SAFE), he said. SAFE helps businesses measure and mitigate cyber risks in real-time. Its customers include Fortune 500 companies and governments ...

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