Mitiga raises $30M Series B to defend cloud services from cyberattacks
Mitiga raises $30M Series B to defend cloud services from cyberattacks
The Israeli company aims to expand into North America and Europe while enhancing its attack investigation tools.
Mitiga, a Tel Aviv-based cybersecurity company that developed a solution for detecting and mitigating cyberattacks in cloud environments and cloud-based software, has raised $30 million in a Series B funding round. The round was led by the American cybersecurity fund SYN Ventures, with participation from ClearSky Security in New York, Atlantic Bridge, DNX, Rolls, and Flint Ventures. This brings Mitiga’s total funding to $78 million since its inception.
"Most organizations operate in diverse cloud service environments, whether public cloud services like Salesforce or others, and there is often a lack of understanding of how to protect these environments or investigate attacks within them. We developed a defense system that focuses specifically on these attacks and facilitates investigations. Once integrated, our system starts collecting data immediately and alerts companies to any potential harm," explains Tal Mozes, CEO and co-founder of Mitiga.
"Until the end of 2023, our sales were modest, but starting in early 2024, our sales rate doubled. This growth has driven our latest funding round and even allowed us to bring John Watters, former President and COO of Mandiant, on board as an executive chairman," Mozes adds.
Mitiga currently employs 50 people, 34 of whom are based in Israel. "We plan to recruit 22 more employees over the next two years, including six engineers in Israel who specialize in cyber research and development, as well as four sales and marketing professionals. While we are not actively looking to be acquired, we frequently receive inquiries. None of the offers so far have been compelling enough, but if the right opportunity arises, we will present it to our board," says Mozes.
The newly raised capital will be used to expand Mitiga's sales and marketing teams, strengthen its presence in North American and European markets, enhance the development of its AI-based platform, deepen its integration with SaaS solutions and cloud infrastructures, and establish strategic partnerships with additional distribution channels.
Mitiga's client base includes major companies such as Blackstone, ZoomInfo, and New American Funding. At the most recent RSA Conference, Mitiga was a finalist in the prestigious Sandbox innovation competition, solidifying its position as a leading innovator in the field of cloud security. "Reaching the finals opened up significant new partnerships for us, which have directly contributed to increased revenues," Mozes notes.
Mitiga’s solution provides end-to-end capabilities for detecting, investigating, and responding to security breaches in clients' cloud environments and applications. The solution supports diverse platforms, including Microsoft 365, Google Workspace, GitHub, Salesforce, and others. By enabling organizations to prepare their defenses in advance, Mitiga allows its customers to recover operations within hours—compared to the days or weeks required by traditional solutions—offering significant value in building resilience against cyberattacks.
Mitiga was founded in 2019 by Tal Mozes (CEO), Ofer Maor (CTO), and Ariel Parnes (COO). Mozes and Maor are serial entrepreneurs in the cybersecurity sector, having co-founded Seeker Security, which was acquired by Synopsys, and Hacktics, which was purchased by Ernst & Young. Parnes, a colonel (res.) in the Israeli Defense Forces, served over 20 years in Unit 8200 in roles spanning intelligence, IT, offensive and defensive cybersecurity, and network warfare.
