Lucideus, a cybersecurity startup has now secured $7 million in the funding round led by California based MS&AD Ventures, along with the participation by Venture Capital firm Western Technology Investment.
The company is also expected to use the funds to ramp up operations in the United States, sales teams and double engineering in the coming three months and scale up the company platform – Security Assessment Framework for the Enterprises (SAFE), which helps the businesses to measure and mitigate cyber risk in the real-time scenario.
The startup is founded in the year 2012 and based in Palo Alto and is backed by John Chambers, the former CEO and Chairman of networking gear maker Cisco.
“Last year, we had a triple-digit revenue growth with a net promoter score (NPS) of 86. 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,” said Saket Modi, co-founder and CEO of Lucideus.
“Cybersecurity is one of the top concerns for CEOs globally, and SAFE is at the epicentre of solving this problem. Cyber Risk Quantification (CRQ) is a disruptive new category and will become a strategic business enabler in the near future,” said Chambers, who is the founder and CEO of JC2 Ventures, a venture capital firm.