MokN has raised USD $15 million in a Series A funding round led by GV, with participation from DataDog, Moonfire, OVNI Capital and angel investors.
The London-based cybersecurity company will use the funding to expand in the UK, develop a broader identity theft protection platform and open new offices in the US as part of its international push.
MokN focuses on credential theft, a growing concern for corporate security teams as phishing attacks continue to expose usernames and passwords used to access company systems. Its products now cover more than 1 million users across large enterprises and mid-sized businesses, including users at Fortune Global 500 companies.
Its approach centres on what it calls "phish-back", a method designed to catch attackers when they try to use stolen credentials. MokN's first product, Baits, deploys decoy access points such as VPN or webmail portals that mirror a company's real environment. When an attacker attempts to sign in, the stolen credentials can be identified, allowing security teams to move quickly to shut down the threat.
The fundraising comes as phishing remains a common route into corporate networks. MokN cited figures from ENISA's Threat Landscape 2025 showing phishing accounted for about 60% of reported intrusion cases in Europe. It also pointed to the UK government's 2025 Annual Cybersecurity Breach Survey, which found that 43% of businesses had experienced a cyberattack or data breach in the previous year, with phishing the main method of attack and credential theft incidents rising.
Investor backing
GV said the company's background and early product traction helped drive its decision to lead the round.
"We invested in MokN because of Gautier's founder-market fit as a former SOC manager and our deep conviction in the team's ability to address a critical gap in the cybersecurity market. With their initial product, Baits, they've developed a sophisticated wedge that turns the tide on attackers by leveraging high-fidelity decoys to trigger immediate, automated recovery workflows. We believe their approach is a game changer for enterprises looking to neutralize credential theft before it can escalate," said Luna Schmid, partner at GV.
Moonfire, an existing investor, said MokN was targeting a weakness in how many organisations manage identity threats.
"We backed MokN because they are addressing a fundamental blind spot in identity security. Most solutions only react once credentials are misused, whereas MokN operates before exploitation, recovering identities that would otherwise remain invisible. What has impressed us is not just the technical insight, but the speed at which Gautier and the team have translated that into real enterprise adoption and expansion. We believe MokN is building a new control layer in cybersecurity, and this round positions them to establish that category globally, starting with the US and the UK," added Akshat Goenka, partner at Moonfire.
Product plans
MokN said the new capital will support increased research and development spending as it builds what it describes as a multi-product platform for identity theft protection. The company also plans to hire across sales and marketing, engineering and customer success in both the UK and the US.
The business was launched in 2024 by co-founders Gautier Bugeon and Antoine Coudoux. It describes itself as part of a category it calls Active Identity Recovery, focused on identifying and recovering compromised credentials before they are used in follow-on attacks or sold through criminal channels.
That pitch reflects a broader shift in cybersecurity spending towards identity-based threats. As attackers increasingly use valid usernames and passwords to bypass perimeter defences, vendors have sought to build products that detect misuse earlier in the attack chain. MokN is positioning itself around that trend by targeting the point between credential theft and credential use.
For enterprises, that gap has become more important as hybrid working, cloud software and remote access systems create more sign-in points for staff and contractors. Security teams have invested heavily in tools such as multi-factor authentication and identity management, but phishing and social engineering continue to undermine those controls when users hand credentials directly to attackers.
In that context, MokN argues that decoy systems can provide an early warning mechanism while helping companies identify which accounts have been compromised. Whether that approach can scale across global corporate environments will be central to the company's next phase as it expands beyond its current European base.
Bugeon said his experience in security operations shaped the company's focus.
"As a former SOC manager, I experienced firsthand how compromised identities remained a critical blind spot. MokN was built to change that. Today, we work with major enterprises to define a new category-Active Identity Recovery-giving them a proactive edge against identity-based attacks," said Gautier Bugeon, chief executive officer and co-founder of MokN.