Mitiga (see Pulse 2.0 profile here), a threat detection, investigation, and response solution for Cloud and SaaS company announced that it has raised $30 million in funding. SYN Ventures led this financing round with active participation from existing investors, including ClearSky, Atlantic Bridge, Flint Capital, DNX Ventures, and Glilot Capital Partners. And the new funding will support the company’s growth across the U.S. and Europe.
Mitiga is well-positioned to execute its growth strategy after consecutive years of customer and revenue growth, having secured customers like Blackstone, ZoomInfo, and New American Funding. This includes expanding its sales and marketing teams, enhancing its AI-driven platform, expanding Cloud and SaaS integrations, and forging new strategic alliances.
Mitiga also made two senior appointments to bolster its team. John Watters was appointed Executive Chairman and brings 30+ years of experience in cybersecurity, building companies, and leading M&A. Watters was previously President and COO of Mandiant, acquired by Google for $5.4 billion. Now he is a Venture Partner at SYN Ventures, specializing in cybersecurity investments. Watters 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. And Rodriguez is an accomplished venture capital investor and will provide invaluable advice based on his experience of growing cybersecurity companies into global marketplaces. Previously, Rodriguez served 22 years as a Special Agent with the United States Secret Service. He held numerous executive leadership positions within the Presidential Protection Detail, Protective Intelligence, Inspection, Criminal Investigation Division, and the Counter Assault Team (CAT).
KEY QUOTES:
“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.”
– John Watters, Executive Chairman of Mitiga
“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.”
– Tal Mozes, Co-Founder, Mitiga
“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.”
– Robert Rodriguez, Board Director, Mitiga
“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.”
– Adam Fletcher, Chief Security Officer, Blackstone
“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.”
– Jeff Farinich, SVP Technology Services and Chief Information Security Officer, New American Funding
