Cybersecurity Startup Mitiga Pulls In $7 Million from Investors

Unlike other companies in the field, Israel's Mitiga focuses mainly on the incident response phase so that cyberattacks can be managed quickly and efficiently when they happen 

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Israeli cybersecurity company Mitiga announced Friday it had closed a $7 million seed funding round for continued development of its cyber incident response solutions. 

The round was joined by DNX Ventures, Clearsky Security, Gillot Capital, Rain Capital, Flint Capital, and Rain Capital.

Unlike other cybersecurity companies, Mitiga's focus is not on preventing attacks but on helping organizations manage the incident response. Its approach is that a cyberattack is inevitable no matter how much protection is in place. 

In many cases, cybersecurity companies are called upon only after a breach occurs, and then must investigate and formulate the proper response, which can waste valuable time and result in even more damage. Mitiga's system delegates remediation steps to all relevant divisions, not just technical staff, so they can quickly and efficiently respond. For example, the technical team gets a detailed report on how the incident occurred, whether there is hostile activity in the system, and what steps need to be taken. 

Mitiga is said to have customers in various sectors such as e-commerce, pharmaceuticals, government and banking. 

The company was founded in 2019 by Tal Mozes, Ariel Parnes, and Ofer Maor. Chief Engineering Officer Parnes, a veteran of the IDF's elite 8200 unit, said in an interview earlier this month that "on the one hand, we are bringing constant value to clients from the very beginning and are addressing real needs, and on the other hand, we are constantly investing efforts into building capabilities and technologies that will scale up and automate the services that we’re providing."

Hiro Rio Maeda, managing director of DNX Ventures, said “With the accelerated trend of cloud infrastructure adoption in the market, the attack surface for enterprise companies is on the rise. In the current age of enterprise security, it’s a must to have clear visibility into the incident response before any breaches happen."