$13M For Cyber Startup Preventing Cloud Attacks
An Israeli cyber startup that helps companies prepare for cloud attacks has raised $13 million.
Mitiga investigates ‘cloud forensics’ data by analyzing other crimes that have taken place in the cloud, which can include data breaches and thefts from various SaaS (software-as-a-service) apps.
By investigating these scenarios, Mitiga can hunt for potential attacks, and manage clients’ responses in real-time, reducing investigation time from weeks or months to hours.
Cloud computing, which delivers on-demand computing services to users over the internet, including services, applications, and networking, is being adopted across industries at a rapid pace.
But with this mass adoption, companies experience a slew of security issues, including cyberattacks, unauthorized access, and external sharing of data.
“When we founded Mitiga, we had one goal in mind—to help organizations accelerate their responses to the rising tide of cloud and SaaS attacks,” said Tal Mozes, CEO.
“We knew we could do it better than traditional incident response solutions because they’re reactive by nature, and tremendously time-consuming.
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“Our proactive and automated approach enables organizations that experience cloud and SaaS breaches to respond immediately and recover faster than any other solution on the market.”
The funds will be used to expand Mitiga’s workforce, and further develop its product.
Investors included ClearSky Security with participation from Samsung Next, Blackstone, Atlantic Bridge and DNX. The startup itself is now valued at over $100 million.
In 2021, Mitiga announced the raising of $25 million. Its total funding to date is now $45 million.
Mitiga was founded in 2019, and is based in Tel Aviv.