Cybersecurity startup Mitigata raises $15 mn in Bessemer-led Series B round

Bessemer-led funding will help the company expand its AI-powered platform as enterprises grapple with rising cyberattacks and growing security risks

Mitigata, an Indian cybersecurity startup betting on artificial intelligence to help companies defend against cyber threats, has raised $15 million in a Series B funding round led by Bessemer Venture Partners. Existing investors Nexus Venture Partners, Titan Capital and WEH Ventures also participated. The company plans to use the funds to expand its platform and deepen its investment in homegrown security infrastructure.

 

The company plans to use the funds to expand its AI and engineering teams, scale its security operations centre and accelerate international expansion.

 

“Cybersecurity is entering an AI-first era, and resilience will become one of the defining capabilities of the modern enterprise,” said Mohit Anand, co-founder and CEO, Mitigata. "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.”

 

 

Founded in 2023, Mitigata provides an AI-powered cyber-resilience platform that helps enterprises detect, defend against and recover from cyber threats. This is done through services including security operations, compliance, cyber insurance and incident response.

 

“The accelerating number of AI-driven malicious attacks, combined with a severe shortage of cybersecurity talent, has resulted in a perfect storm for Indian enterprises,” said Pankaj Mitra, partner, Bessemer Venture Partners.

 

Mitigata said it has grown more than 12-fold over the past year and now serves more than 800 organisations across sectors including financial services, healthcare, manufacturing, retail and technology. The company said its AI-powered security operations centre has processed more than one million security incidents in recent months. It also integrates cyber insurance with security and risk-monitoring tools to help customers manage both cyber threats and their financial impact.

 

“Mitigata is helping define an entirely new category in cybersecurity,” said Anand Datta, partner, Nexus Venture Partners.

 

Mitigata said the growing frequency of ransomware attacks, data breaches and AI-driven cyber threats has elevated cybersecurity from an IT issue to one of economic and national security. The company said it is building an AI-native cybersecurity platform tailored to Indian regulations, risk profiles and enterprise requirements.

 

“The threats facing the country are no longer hypothetical. They are sustained, increasingly AI-driven and often state-grade,” said Sarthak Dubey, co-founder and COO, Mitigata.