Cybersecurity solutions provider Lucideus raises $7 mn

Enterprise cyber security solutions provider Lucideus, on Tuesday, announced raising $7 million in a fresh round of funding. The funding, its co-founder and CEO Saket Modi said, would be used for the company’s expansion in the U.S. as well as doubling its engineering and sales team over the next three months. The current funding round was led by MS&AD Ventures, the venture arm of Japanese MS&AD Insurance Group, with participation as venture debt from WTI (Western Technology Investment).

“The funds will be used to ramp up the company’s operations in the U.S., double engineering and sales teams in the next three months, and scale up the company’s platform - Security Assessment Framework for Enterprises (SAFE) that helps businesses measure and mitigate cyber-risks in real-time,” Mr. Modi said.