Samsung Next backs a $45M investment in Israeli startup Mitiga to transform incident response for cloud and SaaS environments
In 2022, it was estimated that 90 percent of organizations had a hybrid and multi-cloud environment. This opens up the potential for hackers and bad actors to move between on-premises data centers and cloud providers, as well as lateral attacks from one cloud provider to another.
Unfortunately, the current incident response is too slow to respond to the avalanche of requests. It’s for this reason that one Israeli cybersecurity startup is on a mission “to completely change the traditional incident response market by supplying unlimited active incident response support for subscribers.”
Enter Mitiga, the first cloud-based solution for Incident Readiness and Response in the cloud and hybrid environments. Mitiga’s cloud-based solution for cloud and hybrid environments dramatically improves efficiencies for incident readiness and response by aligning around the client’s goals. The startup was founded about four years ago by Tal Mozes (CEO), Ariel Parnes (COO), and Ofer Maor (CTO).
Today, Mitiga announced it has closed a $45 million Series A Round led by ClearSky Security, with participation from Samsung Next and existing investors Blackstone, Atlantic Bridge, and DNX. Mitiga will use the fresh capital infusion to accelerate its growth, helping to meet the high demand for cloud incident response services from the overwhelming number of organizations that now rely on cloud and SaaS environments.
This news comes on the heels of Mandiant’s former President/COO, John Watters, joining Mitiga as an independent board member.
“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,” stated Tal Mozes, co-founder and CEO, Mitiga. “We knew we could do it better than traditional incident response (IR) solutions because they’re reactive by nature, and tremendously time-consuming. 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. We are thrilled to include Samsung Next as one of our investors and look forward to our next growth phase in 2023 and beyond.”
In today’s world, the harsh truth is that cloud attacks are bound to happen. However, Mitiga’s contemporary approach presents a fresh level of cyber and organizational resilience to companies relying on cloud services. With continuous preparedness and significantly shorter investigation times, Mitiga’s solution minimizes incident-related harm and expedites business recovery for its customers.
“As more and more companies are advancing their cloud journeys, they’re beginning to understand that growing their cyber resiliency is a vital part of that transformation” stated Tal Achituv, CTO, Samsung Next. “Mitiga’s modern incident response solution combined with the team’s deep cloud forensics expertise enables companies to prepare for cloud breaches before they happen—so they get back to business immediately. It’s an important capability and we’re happy to be supporting Mitiga to enable it.”