Mimic Raises $27M Seed Funding

Mimic, a Palo Alto, CA-based ransomware defense company, emerged from stealth with a seed round of funding of $27m.

The round was led by Ballistic Ventures, with participation from Menlo Ventures, Team8, Wing Venture Capital and Shield Capital. Ted Schlein, General Partner at Ballistic Ventures, joined the Board of Directors.

The company intends to use the funds to expand operations and its business reach.

Led by Derek Smith, CEO, Mimic provides enterprises with a SaaS platform to enable detection, deflection, and rapid recovery from ransomware attacks. The technology acts as the last line of defense, working in concert with customers’ other controls.

Global financial services provider Apex Group is currently leveraging the platform.