A $27 million seed round of investment helped Mimic, a ransomware security business located in Palo Alto, California, come out of stealth.
Investors
- Ballistic Ventures (led the investment)
- Menlo Ventures
- Team8
- Wing Venture Capital
- Shield Capital
- Ballistic Ventures General Partner Ted Schlein became a member of the board of directors.
The money will be used by the company to grow both its operations and its clientele.
Under the direction of CEO Derek Smith, Mimic offers businesses a SaaS platform that makes it possible to identify, thwart, and quickly recover from ransomware assaults. When combined with the additional controls that consumers have in place, the technology serves as the final line of protection.
Apex Group, a global supplier of financial services, is now using the platform.
About Mimic
The ransomware protection firm is called Mimic. It is a tool used by security teams to identify ransomware early enough to stop it before it can compromise their system or steal their data. In addition, Mimic develops a novel quick recovery technique that functions in a matter of minutes rather than days or weeks and prevents threat actors from regaining access. Mimic, a Palo Alto, California-based startup founded in 2023, is backed by Ballistic Ventures, Team8, Menlo Ventures, Wing Venture Capital, and Shield Capital.
