Mitigata raises $15M in Series B funding round led by Bessemer Venture Partners
Mitigata will primarily use this funding round for hiring of talent across domains and also for international expansion
Cybersecurity startup Mitigata has raised $15 million in a Series B round of funding led by Bessemer Venture Partners, with participation from existing investors Nexus Venture Partners, Titan Capital, and WEH Ventures.
The Bengaluru headquartered startup will use the funding to hire talent across the segments of AI, R&D, product, engineering ,and customer success and to expand internationally.
Founded in 2023 by Mohit Anand, Sarthak Dubey, Mayank Morya, and Akshit Kaushik, Mitigate is an AI-native startup that aims to build the country’s largest sovereign, indigenous AI security infrastructure.
Mohit Anand, Co-founder and CEO, Mitigata, said, “Cybersecurity is entering an AI-first era, and resilience will become one of the defining capabilities of the modern enterprise. As AI becomes increasingly embedded into economies and critical infrastructure, security stops being just an IT problem. It becomes a question of trust, continuity and, increasingly, national security.
"We believe India has a unique opportunity to build world-class cyber resilience infrastructure from India, for the world. This funding allows us to accelerate that vision."
Mitigata says it turns cybersecurity into a measurable risk management function built around the principle of insure, detect, defend and recover.
The startup says it supports more than 800 organisations across sectors such as BFSI, healthcare, manufacturing, automotive, technology, retail and ecommerce. It also claims it has triaged over 1 million security incidents in the last few months, demonstrating its scale and operational depth. It says it is recording a year-on-year growth of over 12x.
“Mohit, Sarthak, Mayank and Akshit have built a timely AI-native resilience platform that services enterprises across their cybersecurity journey from assessing risks to procuring cyber insurance, deploying best-in-class tools and fully managing security outcomes,” said Pankaj Mitra, Partner, Bessemer Venture Partners.