Enterprise ransomware defense startup Mimic Networks Inc. announced today that it has raised $50 million in new funding to enhance its ransomware defense platform, expand its market reach and accelerate product innovation.

Founded in 2023, Mimic offers a platform designed to detect, deflect and facilitate rapid recovery from ransomware attacks. The company’s solution aims to serve as the last line of defense to ensure that critical data remains secure against increasingly sophisticated cyberthreats.

The Mimic platform employs advanced detection technology that identifies ransomware activities within fractions of a second, significantly reducing the window for potential damage. The platform’s speed in detection allows security teams to respond proactively, preventing data encryption and exfiltration before they occur.

In addition to detection, Mimic’s platform offers real-time deflection mechanisms that divert ransomware from critical enterprise assets. The platform works with existing security infrastructures to enhance resilience against attacks without necessitating a complete system overhaul.

GV (Google Ventures) and Menlo Ventures LP led the Series A round, with existing investors Ballistic Ventures, Team8 Ventures LP, Wing Venture Capital LP and Shield Capital also participating. The new funding takes Mimic’s total amount raised to date to $77 million.

“Mimic’s ability to detect and deflect ransomware so much faster than traditional defenses is unique in the market,” said GV General Partner Karim Faris. “We believe Mimic’s capabilities, combined with their use of AI, will become part of every CISO’s minimum required defense strategy.”

Along with the funding, Mimic also announced the launch of Mimic Signal Generator, a new capability that allows customers to safely simulate the impact of ransomware.

Mimic Signal Generator allows organizations to simulate ransomware attacks safely within their networks, allowing security teams to observe potential ransomware behavior in a controlled environment. The capability also allows for the assessment and validation of defense strategies without the inherent risks of handling actual malware.

“The Mimic Signal Generator opens a new avenue for customer testing that has never been available before,” said Chief Product Officer Bob Blakley. “By allowing customers to safely see what real ransomware would do inside their networks, we enable our customers to test and validate their security posture without the dangers of handling actual malware.”

Image: Mimic