Mitigata raises $15 million in Series B round led by Bessemer Venture Partners

Bengaluru-based cyber resilience startup Mitigata has raised $15 million in a Series B funding round led by Bessemer Venture Partners, with participation from existing investors Nexus Venture Partners, Titan Capital and WEH Ventures.

The company will use the fresh capital to accelerate international expansion, deepen investments in AI-native cybersecurity products, expand its Security Operations Centre capabilities, and grow its engineering and research teams.

“Since the last fundraiser, we have grown almost 15x, around 12 to 15x,” co-founder and COO Sarthak Dubey told Moneycontrol. He said the company plans to use the funding to strengthen its AI and cybersecurity capabilities and expand into overseas markets.

Founded in 2023 by Dubey, Mohit Anand, Mayank Morya and Akshit Kaushik, Mitigata positions itself as a cyber resilience company rather than a traditional cybersecurity vendor. Its platform brings together AI-powered security operations, cyber risk intelligence, compliance automation, incident response and cyber insurance.

The company said it currently serves more than 800 organisations across banking, financial services, healthcare, manufacturing, technology and ecommerce. It also claims to have triaged over one million security incidents over the past year through its AI-powered Security Operations Centre.

Mitigata did not disclose its valuation. Dubey said about 95 percent of the company’s business currently comes from India, but it is preparing to enter overseas markets.

“We will be starting off with the Middle East market, North Africa potentially, and Southeast Asia, and then at the same time having some bit of US exposure as well,” he said.

Mitigata’s product suite includes Gordon AI, its proprietary AI-powered security copilot that automates threat detection, investigation and response workflows. The company also operates as a cyber insurance intermediary, allowing it to offer enterprises both cybersecurity and risk-transfer solutions.

The startup’s pitch is centred on helping enterprises manage cyber risk through a single platform rather than relying on multiple vendors for different security functions.

“Customers are looking for solutions rather than having multiple vendors to talk to,” Dubey said. “Rather than going behind a particular product, we always understand the use case first and then provide a solution.”

Mitigata works with global cybersecurity providers such as Palo Alto Networks, CrowdStrike and SentinelOne, while integrating data from those tools into its own platform.

The fresh capital will also be used to hire AI researchers, cybersecurity experts and industry specialists across sectors such as banking and healthcare. The company plans to expand the capabilities of its Security Operations Centres in Bengaluru and Delhi.

The fundraise comes as enterprises face increasingly sophisticated AI-driven cyber threats. Dubey said advances in AI have lowered the effort required for attackers to launch phishing campaigns and other forms of cyberattacks, making cyber resilience a growing priority for businesses.

“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 at Bessemer Venture Partners.

“Mithigata has 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,” he added.

Anand Datta, partner at Nexus Venture Partners, said Mitigata is helping define a new category in cybersecurity.

“By bringing together security operations, cyber risk intelligence, compliance, digital forensics, incident response and cyber insurance within a unified AI-native platform, the company is building the resilience infrastructure modern enterprises increasingly require,” Datta said.

With the latest funding, Mitigata aims to expand its footprint across India and overseas while building what it describes as a full-stack cyber resilience platform for enterprises.

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