Mitiga zeros in on cloud and SaaS security

Mitiga is one of Network World’s 7 network security startups to watch for 2024. Its cloud-native security platform combines cloud threat detection and incident response.

Mitiga at a glance

• Founded: 2019
• What they do: Provide cloud and SaaS security
• Funding: $45 million
• Headquarters: New York, NY
• CEO: Tal Mozes
• Competitors include: Cado Security, Permiso, and Wiz (via its acquisition of Gem Security)
• Customers include: Lemonade

Why Mitiga is a startup to watch

In its Cost of a Data Breach Report 2024, IBM found that about 40% of all breaches involved data distributed across multiple environments, such as public clouds, private clouds and on premises. In addition, data breaches solely involving public clouds were the most expensive type of data breach, according to IBM, costing $5.17 million on average. At the same time, worldwide spending on public cloud services is poised to double between 2024 and 2028, reaching $805 billion this year, according to a new report from IDC.

According to Mitiga, legacy incident detection and response tools were not designed to investigate cloud security incidents and threats, and enterprises that replace those outdated tools usually do so through cloud-native application protection platforms, which only provide basic cloud detection and response capabilities.