Cybersecurity Solutions Provider Mitiga Raises $25M in Series A Funding

Mitiga, a provider of cloud-based cybersecurity solutions for incident readiness & response in cloud and hybrid IT environments has raised $25 million in Series-A funding. It brings the company’s total funding to $32 million.

The last year’s events have expedited cloud adoption by helping businesses to overcome their apprehensions about moving mission-critical workloads to the cloud. According to Gartner, spending on cloud services would exceed $332 billion this year alone, providing a new, rich target for hackers. McAfee recorded a 630 percent rise in assaults on cloud services in the first four months of 2020.

As an incident response solution for cloud-based environments, Mitiga would provide a quick and rapid recovery from any type of cyber breach.

Photo Tal Mozes, co-founder and CEO of Mitiga
“This funding will allow us to further our engagements with heads of enterprise security who are looking to recover from an incident in real-time, attract even more of the most innovative cybersecurity minds in the industry, and expand our partner network,” said Tal Mozes, co-founder and CEO of Mitiga.

By aligning around the client’s goals, Mitiga’s cloud-based cybersecurity solution for cloud and hybrid environments would significantly increase incident readiness and response efficiency. In addition, Mitiga clients would simply pay for its preparedness service and receive limitless Incident response as part of their subscription, rather than the usual time and materials billing. According to Mitiga, their clients may recover to operational normalcy in hours rather than days or weeks when utilizing traditional, services-based incident response approaches because they prepare responses ahead of time.

ClearSky Security, Atlantic Bridge, and DNX provided the majority of Mitiga’s funding. The money will go toward altering the attitude of security-conscious corporate firms when it comes to incident preparation and response in their ever-expanding cloud and hybrid environments.

In the Cloud, For the Cloud

Mitiga’s hybrid managed cybersecurity services presently include Incident Response to handle real-time occurrences and Incident Readiness to reduce post-incident recovery time from days to hours for Fortune 1000, financial service organizations, banks, ecommerce, law enforcement, and government agencies. For non-subscription clients, the business also provides immediate response to active network security events such as ransomware and data breaches.

“We have seen firsthand how demoralizing and detrimental slow responses are to cyberattacks,” said Tal Mozes, co-founder and CEO of Mitiga. “The cloud represents new challenges for incident readiness and response and we’re bringing the industry’s first incident response solution in the cloud, for the cloud. This funding will allow us to further our engagements with heads of enterprise security who are looking to recover from an incident in real-time, attract even more of the most innovative cybersecurity minds in the industry, and expand our partner network. I couldn’t be more excited about what Mitiga is going to do for cloud-first organizations who understand the importance of cybersecurity readiness and response.”

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