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Mitigata Raises $15M Series B Led by Bessemer for Cyber Insurance
The cyber resilience startup handled over 1 million incidents last year. Bessemer led the round as AI-powered security draws more venture dollars.
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Mitigata raised $15 million in Series B funding. Bessemer Venture Partners led the round. Existing investors Nexus Venture Partners and Titan Capital also participated. WEH Ventures, another existing backer, joined as well.
The Bengaluru-based startup is a full-stack cyber resilience platform. It combines AI-powered security operations with cyber insurance and claims to be India's first IRDAI-regulated insurance broker focused solely on cyber risk. Its product stack includes Gordon AI, an automated threat detection and response co-pilot, and RELIQ, a proprietary risk assessment engine.
Mitigata recorded 12X year-over-year growth and handled more than 1 million security incidents through its AI-powered Security Operations Centre (SOC) over the past year. It now serves over 800 organisations across BFSI, healthcare, and other sectors. The company plans to use the new capital to accelerate international expansion, upgrade its AI technology, and scale its domestic SOC. It also aims to double its headcount by hiring across product, engineering, and customer success.