Mitigata, a Bengaluru-based cyber risk and insurance startup, has raised $15 million in a Series B funding round led by Bessemer Venture Partners, the company announced. Existing investors Nexus Venture Partners, Titan Capital, and WEH Ventures also participated. Founded in 2023, Mitigata plans to use the funds to accelerate international expansion, upgrade its AI-native technologies, and scale its domestic Security Operations Centre (SOC).
The funding round involved participation from both new and existing investors, with Bessemer Venture Partners leading the $15 million raise. Mitigata aims to double its current team size by hiring across product, engineering, and customer success divisions. The startup offers a full-stack cyber resilience platform that integrates AI-powered security operations, cyber risk intelligence, compliance automation, digital forensics, incident response, and cyber insurance into a single platform, according to inc42.com.
Mitigata distinguishes itself as India’s first IRDAI-regulated insurance broker focused exclusively on cyber insurance. Its product suite includes Gordon AI for automated threat detection and incident response, RELIQ for cyber risk assessment, Dranta for privacy governance, and Scan by Mitigata for consumer data exposure monitoring. This integrated approach addresses both cybersecurity threats and financial losses, positioning Mitigata in a growing market where cyber risk management is increasingly critical.
The startup’s plans include making its Security Operations Centre the largest in India and expanding its international footprint. Mitigata’s founders—Mohit Anand, Sarthak Dubey, Mayank Morya, and Akshit Kaushik—are steering the company through this growth phase. The $15 million Series B funding marks a key milestone in Mitigata’s development since its 2023 inception, as reported by inc42.com.