The leading Cloud and SaaS security scale-up has closed a $30 million Series B funding round, led by SYN Ventures, to expand its footprint in North America and Europe.
NEW YORK–(BUSINESS WIRE)–Mitiga, the threat detection, investigation, and response solution for Cloud and SaaS, today announced that it has raised $30 million in investment as the company drives exponential growth and broadens its customer base through geographic expansion, new channels and enhanced product capabilities.
Mitiga is well positioned to execute on its growth strategy following consecutive years of customer and revenue growth, having secured blue-chip customers including Blackstone, ZoomInfo and New American Funding. Led by SYN Ventures with active participation from existing investors including ClearSky, Atlantic Bridge, Flint Capital, DNX Ventures and Glilot Capital Partners, the new funding will support the company’s growth across the U.S. and Europe. This includes expanding its sales and marketing teams, enhancing its AI driven platform, expanding Cloud and SaaS integrations, and forging new strategic alliances.
Mitiga has also made two senior appointments to bolster its team. John Watters has been appointed Executive Chairman and brings over 30 years’ experience in cybersecurity, building companies and leading M&A. John was previously President and COO of Mandiant, which was acquired by Google for $5.4 billion. Today, he is a Venture Partner at SYN Ventures, which specializes in cybersecurity investments. John was previously Chairman and CEO of iDEFENSE (Acquired by Verisign), then iSIGHT Partners (Acquired by FireEye), Lead Investor and Board member of Archer Technologies (Acquired by RSA) and Chairman of Netwitness (Acquired by RSA).
Robert Rodriguez, Chairman and Founder of SINET and Venture Partner at SYN Ventures has also joined the Board of Directors. Robert is an accomplished venture capital investor and will provide invaluable advice based on his experience of growing cybersecurity companies into global marketplaces. Previously, Mr. Rodriguez served 22 years as a Special Agent with the United States Secret Service where he held numerous executive leadership positions within the Presidential Protection Detail, Protective Intelligence, Inspection, Criminal Investigation Division, and the Counter Assault Team (CAT).
As reflected by its status as an RSA Conference 2024 Innovation Sandbox Finalist, Mitiga continues to lead innovation in cybersecurity and is uniquely positioned with its world class team and disruptive Cloud Security Platform.
John Watters, Executive Chairman of Mitiga, said, “Mitiga’s Cloud/SaaS TDIR Platform represents the future of cybersecurity and I’m proud to be named Executive Chairman. Cloud, SaaS, and Identity domains have been a fruitful playground for attackers as data, infrastructure, and risk have shifted to these new domains. In doing so, enterprises often lack visibility and control in this distributed environment. Mitiga delivers this visibility and enables customers to detect, investigate, and automate incident response against threats across those environments.”
Tal Mozes, Co-Founder, Mitiga, commented, “Mitiga is pleased to appoint John Watters as Executive Chairman and welcome Robert Rodriguez from SYN Ventures and SINET as a Board Director. Both have an impressive track record in cybersecurity and will help Mitiga achieve our mission of protecting organizations from the insidious and complex threats facing Cloud and SaaS data and applications.”
“Cloud and SaaS breaches are rising as adversaries seek to exploit weaknesses in online systems. Businesses have prioritized compliance and prevention – rather than detection and mitigation – which is creating a white space for adversaries to target. Mitiga’s unique and broad capabilities enable our customers to detect, investigate and respond to threats over 90 percent faster than traditional approaches,” Mozes continued.
Robert Rodriguez, Board Director, Mitiga, stated, “I’m delighted to join Mitiga’s Board to support the company’s strategic vision. The purpose behind Mitiga’s team, platform, and services shows undeniable promise in its ability to enable security teams to detect, investigate, and respond to a new class of threats. Our goal is to empower the cybersecurity community to address SaaS and Cloud threats head-on and we are well positioned to drive the cloud security industry forward.”
Customer testimonials
Adam Fletcher, Chief Security Officer, Blackstone: “We know how important it is to be prepared before an incident occurs, especially in Cloud infrastructure. As a customer of Mitiga, we ensure we have the speed we need to zero in on threats faster and recover better.”
Jeff Farinich, SVP Technology Services and Chief Information Security Officer, New American Funding: “Mitiga provides third party assurance for cloud detection and response. It’s critical to have a strategic partner that validates readiness, performs threat hunting, and is ready to engage for incident response.”
About Mitiga
Mitiga is the industry’s most complete solution for SaaS and cloud threat detection, investigation, and response (TDIR): built by investigators, for investigators. We deliver the modern capabilities that enterprises have been missing, equipping SOC teams with panoramic visibility across clouds, identities, and SaaS, automation that speeds investigations, and rich context that informs cloud threat detection, hunting, and incident response. With Mitiga’s platform and managed services, security teams can zero in on modern threats at cloud speed and scale, uncovering what other solutions miss, to minimize impact and maximize resiliency. For more information, visit www.mitiga.io
About SYN Ventures
SYN Ventures is a venture capital firm focused on investing in disruptive and innovative security companies in the cybersecurity, industrial security, national defense, privacy, regulatory compliance, and data governance industries. The firm’s dedicated security team of former CISOs, CEOs and Founders has a proven track record with over 350 years of combined security investing and operational experience. SYN also has a highly distinguished network of seasoned security advisors and CISOs.
