Bengaluru-based cyber risk and insurance startup Mitigata has secured $15 million (around ₹141 crore) in a Series B funding round led by Bessemer Venture Partners, as investor interest in AI-driven cybersecurity solutions continues to gain momentum globally.
The funding round also saw participation from existing investors Nexus Venture Partners, Titan Capital, and WEH Ventures. The fresh capital will be deployed to accelerate the startup’s international expansion, strengthen its AI-native cybersecurity capabilities, and scale its Security Operations Centre (SOC), which the company aims to build into India’s largest.
Founded in 2023 by Mohit Anand, Sarthak Dubey, Mayank Morya, and Akshit Kaushik, Mitigata operates as a full-stack cyber resilience platform that helps businesses manage both cybersecurity threats and the financial risks associated with cyber incidents. The startup claims to be India’s first Insurance Regulatory and Development Authority of India (IRDAI)-regulated insurance broker focused exclusively on cyber insurance.
As cyberattacks become more sophisticated and frequent, enterprises are increasingly looking for integrated solutions that go beyond traditional threat detection. Mitigata positions itself differently from conventional cybersecurity firms by combining AI-powered security operations, cyber risk intelligence, compliance automation, digital forensics, incident response, and cyber insurance within a single platform.
Its technology stack includes Gordon AI, a security co-pilot designed for automated threat detection and incident response; RELIQ, a proprietary cyber risk assessment engine; Dranta, a privacy governance and consent management platform; and Scan by Mitigata, a consumer-focused solution that helps users monitor data exposure risks.
The company claims to have recorded a 12X year-on-year growth over the past year. During the same period, its AI-powered SOC reportedly triaged more than 10 lakh security incidents. Mitigata currently serves over 800 organisations across sectors including banking, financial services and insurance (BFSI), healthcare, manufacturing, automotive, and ecommerce.
Commenting on the fundraise, cofounder and CEO Mohit Anand said that cybersecurity is rapidly evolving into an AI-first industry where resilience will become a critical capability for modern enterprises.
“Cybersecurity is entering an AI-first era, and resilience will become one of the defining capabilities of the modern enterprise. As AI becomes increasingly embedded into economies and critical infrastructure, security stops being just an IT problem. It becomes a question of trust, continuity and, increasingly, national security,” Anand said.
The investment comes at a time when the role of artificial intelligence in cybersecurity is under intense scrutiny. Discussions around AI-powered security tools have intensified following concerns related to Anthropic’s Claude Mythos, an AI model developed to identify software security vulnerabilities. Access to the model has reportedly been rolled out cautiously amid concerns that such capabilities could potentially be misused.
In India, market regulator SEBI recently constituted a dedicated task force, cyber-suraksha.ai, to assess cybersecurity risks associated with emerging AI technologies such as Mythos.
Despite the concerns, investors continue to back cybersecurity startups leveraging AI. Earlier this month, Innefu Labs raised $30 million, while CloudSEK secured $10 million to fuel its US expansion. Mirror Security also raised $2.5 million recently, highlighting growing investor confidence in the cybersecurity sector’s long-term growth potential.
With fresh capital in hand and demand for cyber resilience solutions rising globally, Mitigata is now looking to strengthen its international presence while expanding its workforce across product, engineering, and customer success functions.
