Mitigata Secures $15 Million to Enhance Cybersecurity Solutions

Bengaluru’s cyber resilience startup Mitigata has successfully raised $15 million in a Series B funding round, spearheaded by Bessemer Venture Partners. The funding round also saw participation from existing investors including Nexus Venture Partners, Titan Capital, and WEH Ventures. The new capital will enable Mitigata to broaden its international footprint, augment its AI-driven cybersecurity solutions, enhance its Security Operations Centre (SOC) capabilities, and recruit talent in engineering and research roles.

Previously, Mitigata garnered $5.9 million in a Series A funding round led by Nexus Venture Partners, with contributions from Titan Capital and WEH Ventures back in August of last year.

Founded in 2023 by Mohit Anand, Sarthak Dubey, Mayank Morya, and Akshit Kaushik, Mitigata offers a comprehensive platform that integrates security operations, cyber risk intelligence, compliance management, incident response, and cyber insurance services. The startup currently extends its services to over 800 enterprises across various sectors such as banking, financial services, healthcare, manufacturing, technology, and ecommerce.

According to Mitigata, its AI-enhanced SOC platform managed more than one million security incidents over the last year. The company notes that approximately 95% of its current operations are centered in India, with plans to initiate its global expansion in the Middle East, North Africa, and Southeast Asia, while also looking into prospects in the United States.

Key Features of Mitigata’s Platform

Mitigata’s platform features Gordon AI, a proprietary cybersecurity copilot designed to automate threat detection and incident response. The company further enhances its capabilities by integrating with renowned security platforms such as Palo Alto Networks, CrowdStrike, and SentinelOne, in addition to providing cyber insurance services to its enterprise clients.

Future Plans and Strategy

The new funding will partly be allocated to recruiting AI researchers, cybersecurity experts, and domain specialists across industries like banking and healthcare. Moreover, Mitigata intends to expand the operational capacity of its Security Operations Centres located in Bengaluru and Delhi.