A new Silicon Valley startup called Mimic is coming out of the shadows with a hefty $27 million seed-stage funding round and ambitious plans to disrupt the ransomware detection and recovery business.
The company said the seed financing was provided by Ballistic Ventures, Menlo Ventures, Team8, Wing Venture Capital and Shield Capital.
The brainchild of former Shape Security chief executive Derek Smith, Mimic is working on a technology to help businesses detect, deflect and quickly recover from data-extortion ransomware infections.
“Our technology detects ransomware much earlier and with greater accuracy than other defenses, allowing us time to deflect the attack before damage is done or data is stolen,” Smith said, describing Mimic as the last line of defense working alongside existing corporate security controls.
Mimic said its technology is exclusively focused on thwarting the threat from ransomware gangs with features to quickly detect signs of malicious data-encryption and tools to hide critical assets from attackers.
The company is also touting a recovery feature that swiftly and automatically restores an organization’s most critical applications and data to a clean environment within 24 hours without paying a ransom.
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