SecLogic Secures Pre-Seed Funding From Spanache.vc And India Accelerator The company plans to utilize the funds to strengthen its existing product portfolio and targeting a consolidated revenue of $30 million and above by the end of 2024
By Prabhjeet Bhatla •
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SecLogic, a cloud security posture management and identity governance (CSPM++) and organization risk orchestration startup based in the US and India, on Tuesday announced that it has secured Pre-Seed funding from Spanache.vc as the lead investor and India Accelerator.
The platform plans to utilize the funds involving evolving as a ubiquitous solution provider covering the entire threat landscape of an organization.
Incepted in late 2020, the startup developing cloud security and organization risk orchestration products to aid organizations in achieving a secure digital landscape.
"We are delighted to have completed this round of funding. It will help us seize the big market opportunity globally by architecting, deploying, and securely managing the enterprise security environment. Additionally, we plan to expand our product portfolio that provides the most accurate insight of risk exposure and mitigation in the industry," said Mayank Lau, founding member and vice president, SecLogic.
Security in the cloud era has emerged as a priority. The misconfiguration, policy violations, and ungoverned identities are responsible for successful cloud breaches. The lack of proper security controls on cloud infrastructure can lead to several hazards including data breaches, compliance violations, identity theft, diminished customer trust, and potential revenue loss. Globally, Cloud has emerged as a thrust for enterprises' digital transformation across sectors, and hence to create a secure cloud infrastructure, SecLogic has undertaken the step to democratize the cyber security adoption roadmap for CXOs, reads a statement in the press release.
"The unique proposition of building CSPM++ and ORO products is based on a huge market base and demand globally. SecLogic is with a first-mover advantage and background of the core team interested us to invest in them," shared Pankaj Mittal, lead investor and technology advisor, Spanache.vc.
As per a recent Logic Monitor's Cloud Vision in 2020, nearly 83 per cent of enterprise workload will be on the cloud by 2020. Combining the best of machine intelligence and human cyber offensive expertise, SecLogic's CyberQ performs threat and vulnerability management, incident management, and security operations automation using machine learning (ML) and artificial intelligence (AI) and provides real-time risk posture. Furthermore, SecLogic has developed two flagship products – CyberQ SHIELD (cloud security posture management and identity governance) and CyberQ ORO (organization risk orchestration).
"SecLogic is a fantastic example of centralized visibility and transparency of cloud infrastructure. With an increased number of companies shifting to cloud infrastructure, cloud breaches are continuing to grow and affect an organization's digital systems. Our decision to invest in SecLogic moves in the direction of helping companies create a safe and secure digital landscape," added Mona Singh, co-founder, IA.
The company is also looking to channelize the funds for onboarding customers, stakeholders, and employees as partners.
