2023-10-09 16:37:04
Par Ingrid Vergara
Published 10 hours ago, Updated now
In 2022, HarfangLab’s growth soared by 250%. Song_about_summer / stock.adobe.com
In hypergrowth, this “watchdog” of the PC and server fleets of organizations is launching a new challenge: going international.
Firmly established in the French cyber landscape, HarfangLab is setting out to conquer Europe. The company, which is one of 25 French scale-ups in the sector, is raising 25 million euros in a funding round led by Crédit Mutuel Innovation, MassMutual Ventures and its historic investor, Elaia.
Created by former employees of Thales, the Ministry of the Armed Forces and the National Information Systems Security Agency (Anssi) in 2018, HarfangLab offers an end-to-end protection software platform for a company’s PCs and servers or an administration (“End Point Protection”). From detecting threats to blocking them using AI algorithms in the event of an intrusion, HarfangLab defines itself as a “watchdog”, on the lookout for the first signs of malicious behavior on a company’s workstation fleet. organization, capable of alerting and reacting to the slightest problem. It already equips 250 customers in France, including several international companies, such as Thales or Safran, and government ministries including that of the Armed Forces.
New challenge
In 2022, the company experienced hypergrowth, with a 250% surge in its turnover. “We will exceed 10 million annual recurring revenues this year and one million protected workstations» explains Grégoire Germain, CEO and co-founder of HarfangLab. The company passed another very important milestone in 2023, submitting its product to the very demanding tests of the independent American organization Miter with very good results. Through hyper-specific attack scenarios, this foundation distinguishes the real performance of security solutions. “To gain notoriety, you must show and prove that you have reached the state of the art» underlines Grégoire Germain.
A significant financial and human investment for the company which is in line with its new challenge: going international. With its fundraising, the company plans to expand into Europe within 18 months, starting with Germany and the Benelux. In a method that has been successful on the French market, the company will rely on a network of partners and integrators. “Companies will consume cybersecurity as a service, hence our different business approach, through indirect sales» explains Grégoire Germain.
60% of staff in R&D
The company also wants to continue to enrich its platform with new protection features and to constantly adapt to new threats. Its team dedicated to artificial intelligence will expand, while 60% of its workforce – around a hundred people to date – are assigned to R&D.
This new fundraising shows that, despite a relatively gloomy financing situation, French cybersecurity continues to attract investors, after Egerie in January, Datadome and Sesame it in March, and Sekoia in May. The ecosystem is very attentive to the first major mergers announced this year, such as the acquisition of Splunk by Cisco. “It will take players with greater critical masses in Europe» recognizes Grégoire Germain. Is he thinking about it? “I think it’s always interesting to ask the question»concludes the manager.
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