Samsung NEXT invests in Mitiga, a cloud and SaaS incident response leader, shaping the future of cybersecurity. Mitiga, a leader in incident response for SaaS and cloud environments, has raised $45 million in a Series A funding round. The company’s solution enables ongoing readiness and compresses investigation time from weeks or months to hours, helping businesses reduce incident-related damage and get back to business quickly.
Samsung Next will join existing investors ClearSky Security, Blackstone, and Atlantic Bridge in the round.
The company has raised $45m in funding
Samsung NEXT is the venture capital arm of Samsung Electronics that invests in early-stage startups. The company focuses on investing in innovative technologies that will help shape the future of the industry. The firm also partners with entrepreneurs to turn ideas into products and grow them into businesses. Its portfolio includes 132 companies.
In addition to Samsung NEXT Ventures, the company has an accelerator program called the Samsung Founders Fund that helps accelerate growth for startup companies. The accelerator is backed by the company’s global leadership team and has helped over 60 startups reach new levels of success.
The firm has also invested in several cybersecurity startups, including Mitiga, a cloud security company. The company’s technology protects against cyberattacks on cloud-based systems, allowing enterprises to quickly identify and respond to threats. Mitiga’s technology also provides a comprehensive forensic data lake to identify the effects of an attack and protect against future attacks.
The company recently raised $45 million in funding. The Series A round was led by ClearSky Security with participation from Samsung Next and existing investors Blackstone, Atlantic Bridge and DNX. The fresh cash will be used to fuel product development and expand the company’s 56-person workforce.
Located in Mountain View, California, Samsung NEXT Ventures is the investment arm of Samsung NEXT, the multifaceted innovation group within the global tech giant. It is primarily focused on developing and scaling companies that leverage and transform the Samsung ecosystem. The company’s investment strategy is based on a three-pillared model. The first pillar is building ideas into products, the second pillar is growing those ideas into businesses, and the third pillar is transforming them into companies that scale.
The company’s latest acquisition is a virtual reality (VR) training platform for frontline workers. Gemba VR enables customers like Johnson & Johnson and Coca-Cola to deliver impactful training in a virtual environment. The platform eliminates the need for physical travel and saves companies up to $2M in travel costs and over 1.0 ton of CO2e per employee. It also enables employees to access important content anywhere, anytime.
CEO Tal Mozes says the investment will help the company to accelerate its growth
The investment in NYC-based Mitiga will help the company to accelerate its growth. The company specializes in protecting cloud and SaaS environments. It says that it can detect and mitigate attacks 90 percent faster than traditional incident response approaches. It will use the new funding to expand its team and add technology. The company has also added a former Mandiant executive to its board.
In addition to providing technology, Mitiga offers consulting services. Its consultants can work with clients to develop a security strategy, as well as train their employees. They can even work with internal teams to perform penetration tests and other types of testing. The company’s approach is to improve an organization’s readiness and then provide ongoing support for incident response.
One of the most important factors in an effective incident response is a quick and efficient transfer of forensics data. This requires a map of the network. Mitiga’s software can build these maps automatically. It can then search for attackers and their tools, allowing users to identify suspicious activity quickly. In addition, the platform can identify and track attackers to prevent re-attacks.
According to Mozes, Samsung NEXT is a “very strategic investor” that has provided significant capital for the company’s expansion. He believes that the investment will allow Mitiga to develop its forensic analytics capabilities and continue to grow its customer base. The company has offices in the United States and Israel, and will open additional locations next year.
In addition, the investment from Samsung NEXT will allow Mitiga to enhance its incident response capabilities. The company will use the investment to develop a cloud-based forensic data lake. This will be able to store information from multiple clouds and software-as-a-service applications. It will also help organizations speed investigations and reduce breach-related costs.
The founders of Mitiga began the company with the goal of improving readiness and reinventing incident response for cloud infrastructure. They saw that the industry was dominated by managed security services companies using old-school techniques. They also believed that this was a gap in the market. Mitiga has since developed a number of methodologies, technologies, and tools to address enterprise needs.
The company’s cloud-based incident response platform can automate threat response
Mitiga’s cloud-based incident response platform can automatically detect and analyze threats. It also enables businesses to conduct breach readiness assessments and proactive forensic data acquisition. This can help to speed up investigations, minimize damage and enhance cyber resilience against future attacks.
In the past, detecting and investigating breaches was a manual process that required a lot of time and effort. It was a tedious task for security professionals who were already dealing with multiple issues. In addition, the amount of data that needed to be analyzed was tremendous. This caused a major bottleneck in the entire incident response process. However, the new platform from Mitiga can significantly reduce the overall investigation and response time.
One of the biggest benefits that the company’s solution offers is the ability to identify where the infiltration took place. This can be crucial for legal teams to inform regulators as quickly as possible. This can also help to prevent large fines from being levied against the company.
Another benefit of the company’s solution is that it can provide a map of investigative paths within the network. This can be especially helpful if an organization suspects that they have been compromised by a malicious actor. It can save a lot of time and effort as it eliminates the need to manually examine forensic logs.
Co-founder and CEO Tal Mozes says that the company’s modern approach to incident response is designed for cloud-driven companies. He claims that it can compress investigation time from weeks or months to hours, allowing businesses to recover faster and reduce incident-related damage. In addition, the company’s subscription-based service can reduce costs through a lower-risk and predictable model.
The company’s technology offers a forensic data lake
In the case of a cyber attack, Mitiga’s platform can access the critical forensic data that will help businesses to find out what happened and who was affected. This information is important for the legal team to provide a report to the regulatory bodies. It can also help businesses to shore up their defenses and prevent future attacks.
Mitiga’s platform can accelerate the incident response process and minimize damage by compressing investigation times from weeks or months to hours. It can also be used to optimize ongoing readiness and resilience for cloud-driven organizations.
Samsung NEXT’s investment will help Mitiga to grow and meet the demand for its services. It will also support the company’s expansion into new markets and continue to develop its technology. The company’s CEO, Tal Mozes, would not disclose the size of the customer base or any concrete revenue numbers. He cited competitive reasons for this secrecy.
Unlike traditional cybersecurity solutions, Mitiga’s approach is proactive and automated. It uses a library of attack scenarios to identify malicious activity and hunts for it in forensic data that is collected proactively. This way, it can detect threats and respond to them in real time. It can also identify the location of a breach and who was affected by it. This enables the business to report to regulatory bodies and customers in a timely fashion. This can help companies avoid costly fines and reduce the impact of a security breach on their reputation. The company claims that it can reduce the amount of time that a business needs to recover from a cyber attack by up to 90 percent.
