Tel Aviv-based cloud security startup Mitiga raised a $45M Series A extension led by ClearSky Security at a $100M+ valuation, taking its total funding to $77M
Context & Ripple Effects
Mitiga's $45M extension is an inside-track continuation rather than a fresh lead: ClearSky Security, which anchored Mitiga's $25M Series A back in 2021, returned to lead this one too, lifting total funding to $77M at a $100M-plus valuation. The structure matters — an 'extension' on a two-year-old round signals the company needed more capital without resetting its price.
The round lands in a crowded Tel Aviv lane. In roughly the past year-and-a-half alone, Dig Security raised $34M for cloud data protection, Valence Security took $25M for SaaS supply chain security, and Sentra raised $30M for cloud data classification — all Series A scale, all from the same city.
First-order effects
- ClearSky Security now has concentrated exposure across both of Mitiga's institutional rounds, deepening its stake ahead of any future sale or up-round.
- Mitiga gains an extended runway against rivals like Dig, Sentra, and Valence that are attacking adjacent slices of cloud data security with comparable war chests.
Second-order effects
- With four-plus funded Tel Aviv startups selling overlapping cloud-data-security capabilities, buyers face a vendor-selection squeeze that pressures each player toward category leadership or acquisition.
- ClearSky's repeat-lead pattern gives it de facto gatekeeper power over which Israeli cloud security companies reach the next funding stage.
Third-order effects
- A barbell is forming in cloud security funding: hyper-scalers like Wiz at a $6B valuation anchor the top, while everyone below competes through repeated Series A extensions and smaller raises — raising the odds that mid-tier players consolidate into acquirers' portfolios rather than growing into independent leaders.
The trend: Cloud security venture capital is splitting into a mega-valued top tier and a crowded mid-tier of Tel Aviv specialists surviving on extended and incremental rounds.