India, 9th May, 2017

Lucideus Raises Strategic Investment, Strengthens Market Leadership

Lucideus, an IT risk assessments and cyber security platforms provider, today announced they have closed an angel funding round of undisclosed amount.

The list of angel investors include:
  1. Amit Ranjan - Chief Architect @ Digilocker
  2. Anurag Goel - CEO @ Cactus Communication
  3. Govind Rajan - ex CEO @ Freecharge
  4. Jonathan Boutelle - ex Director of Technology @ LinkedIn/SlideShare
  5. Kulmeet Bawa - Managing Director @ Adobe
  6. Rajan Anandan - Managing Director @ Google
  7. Rahul Chawla - Managing Director, Head of Global Markets @ Deutsche Bank
  8. Salil Donde - ex EVP @ NASDAQ
  9. Sunil Kalra - Angel Investor
  10. Vellayan Subbiah - Managing Director @ Cholamandalam Finance
  11. Victor J Menezes - Angel Investor
The three investors who had invested in our last angel investment round (last year) include:
  1. Anand Chandrasekaran - Director, Messenger @ Facebook
  2. Amit Chowdhary - Director @ Motilal Oswal PE
  3. Sanjay Baweja - CFO @ Suzlon Energy

Saket Modi, CEO & Co-founder, Lucideus said, “As a company we have been growing 700% y-o-y (average) in revenues while being cash flow positive for the last 4 years. We have got a set of marquee names of handpicked investors who have not only invested their money but also bring in their strategic and technical guidance that is playing a key role in our evolution.”

Talking about his investment Govind Rajan, one of the angel investors said, "Lucideus has shown a consistent top line growth while continuing to innovate itself in the cyber security industry. At a time when both the government and the private sector are adapting digital, their cyber risk is increasing exponentially with linear addition to their technology stack. Considering all the ground work done by Lucideus for the last 5 years, I feel they are well positioned to grab the market opportunity and emerge as clear market leaders."

According to a report by the research firm Markets&Markets the global market for cyber security will be worth 202.36 Billion USD by 2021, up from 135 Billion USD this year.

Saket Modi, further highlights, “With an access to the office of the CTO, CIO and CISO of over a 100 customers across the globe, a year back we realized a pressing need that was not being answered byany of the existing cyber security products. To address the same we will be launching a cyber risk management platform very soon. We believe it will disrupt the way the c-suite executives look at their cybersecurity posture today. The funding raised is largely being used for the research & development of this platform, followed by hiring the top talent in our industry.”