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MokN, a startup specializing in credential theft protection, locked up a $15 million Series A led by GV, CEO Gautier Bugeon tells Axios Pro exclusively.

Why it matters: Simple identity and credential theft remain a leading cause of data breaches.

Zoom in: Observability and security platform DataDog joined the round, as did existing investors Moonfire, OVNI Capital, and angels.

How it works: MokN's solution is similar to the industry's old honeypot decoy system. The company's product, Baits, deploys realistic decoy access points — think VPN or a webmail portal — that mirror a company's environment.

When an attacker attempts to log in with stolen credentials, the security team is alerted.

What they're saying: "This is a unique wedge," says Luna Schmid, partner at GV. "You don't see that a lot in cybersecurity."

By the numbers: Bugeon declined to release MokN's revenue numbers, but says the company has 40 customers, mainly large enterprises.

Founded in 2023, the Paris- and New York-based startup has raised $18 million.

What's next: The company may raise a Series B in a year if it continues to see strong enterprise adoption of its multi-product platform, Bugeon says.

Exclusive: Cybersecurity startup MokN raises $15M led by GV

The company uses deception to take on identity and credential theft.

Illustration of a white mask with half of it in red binary code

MokN, a startup specializing in credential theft protection, locked up a $15 million Series A led by GV, CEO Gautier Bugeon tells Axios Pro exclusively.Why it matters: Simple <a class="gtmContentClick" data-vars-link-text="identity and credential theft" data-vars-click-url="https://www.verizon.com/business/resources/T15a/reports/2026-dbir-data-breach-investigations-report.pdf" data-vars-content-id="6129ac51-0a0d-4055-829c-eb880efb4e37" data-vars-headline="Exclusive: Cybersecurity startup MokN raises $15M led by GV" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.verizon.com/business/resources/T15a/reports/2026-dbir-data-breach-investigations-report.pdf" target="_blank">identity and credential theft</a> remain a leading cause of data breaches.

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Exclusive: Cybersecurity startup MokN raises $15M led by GV

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