Mitigata Raises $15M Series B for Cyber Resilience Expansion

Mitigata, a Bengaluru-based startup specializing in cyber risk and insurance, has successfully closed its Series B funding round, securing $15 million (approximately ₹141 crore). The round was led by Bessemer Venture Partners, with participation from existing investors Nexus Venture Partners, Titan Capital, and WEH Ventures.

The newly acquired capital is earmarked for accelerating Mitigata’s international expansion, enhancing its AI-native technologies, and scaling its domestic Security Operations Centre (SOC) with the goal of making it India’s largest. The company also plans to double its current workforce across product, engineering, and customer success divisions.

Founded in 2023 by Mohit Anand, Sarthak Dubey, Mayank Morya, and Akshit Kaushik, Mitigata operates as a full-stack cyber resilience platform. It aims to provide comprehensive management of both cybersecurity threats and the associated financial losses for its clients. Notably, Mitigata claims to be India’s first IRDAI-regulated insurance broker exclusively focused on cyber insurance.

Mitigata differentiates itself from traditional cybersecurity firms by integrating AI-powered security operations, cyber risk intelligence, compliance automation, digital forensics, incident response, and cyber insurance into a unified platform. Its product suite includes Gordon AI, an AI co-pilot for threat detection and incident response; RELIQ, a proprietary engine for cyber risk assessment; Dranta, a privacy governance and consent management platform; and Scan by Mitigata, a solution for monitoring data exposure.

The startup reported a 12x year-over-year growth and has triaged over one million security incidents in the past year through its AI-powered SOC. Mitigata serves more than 800 organizations across various sectors, including BFSI, healthcare, manufacturing, automotive, and e-commerce.

Mohit Anand, co-founder and CEO of Mitigata, emphasized the shift towards an AI-first era in cybersecurity, stating, “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.” He added, “We believe India has a unique opportunity to build world-class cyber resilience infrastructure from India, for the world.”

The investment in Mitigata reflects a broader trend of increasing investor confidence in AI-focused cybersecurity startups. This sector has seen significant backing recently, with companies like Innefu Labs raising $30 million, CloudSEK securing $10 million, and Mirror Security raising $2.5 million, highlighting the growing market potential and strategic importance of advanced cybersecurity solutions.