HarfangLab, a French cybersecurity company, has netted €25 million in Series A funding. The investment round was led by Crédit Mutuel Innovation alongside participation from MassMutual Ventures known for backed Zluri and IMMIX, and Elaia, which led its first €5 million funding round in 2021.
Expansion plans ahead
The fresh funds will be used to accelerate HarfangLab’s business expansion in Europe and to facilitate investment in research and development. As the cyberthreat landscape is evolving constantly, the company will continue to invest in the latest AI, detection automation and threat intelligence technologies to ensure they are one step ahead of the latest threats. Also, the HarfangLab will accelerate recruitment and investment to develop its partner network and multiply its sales force.
In September, HarfangLab strengthened its Executive Committee with the appointment of Tanguy de Coatpont as Chief Revenue Officer and Anouck Teiller as Chief Strategy Officer. Their appointment is aligned with the growth and increasing footprint of the company across Europe.
Meutralises cyberattacks on computers and servers
HarfangLab was founded by Gregoire Germain and Xavier Boreau in 2018. The French cybersecurity company publishes EDR software, a technology that anticipates and neutralises cyberattacks on computers and servers. It offers endpoint detection and response (EDR) solutions to enhance identification and neutralisation of cyberattacks against companies.
The funds from the first raise were invested in research and development for their EDR software, enabling HarfangLab to develop the high performing, easy to operate, scalable tool available today.
Notably, HarfangLab is certified by the French National Cybersecurity Agency and is growing fast with a 250% growth in revenue in 2022.
“Our solution is now a must have in the French cybersecurity market: it’s certified by ANSSI, has received great results at the latest MITRE ATT&CK Evaluations, and is constantly adding new innovations to fight against the ingenuity of cybercriminals. This funding round equips us with the resources to continue to invest in research and take the next step in the commercialisation of our solution in Europe with one ambition in mind: to always protect our clients, as the best partners would do,” said Grégoire Germain, CEO and Co-Founder at HarfangLab.
Armelle de Tinguy, Partner at Elaia said: “HarfangLab continues to go from strength to strength. At Elaia, we are pleased to continue our support of this excellent team who we are proud to have supported from the beginning. The impressive achievements so far and the proven top-tier performance of their product indicates a strong future for HarfangLab as they look towards the next frontier of cybersecurity. We look forward to continuing the journey alongside the team.”
“The founding team of HarfangLab, who as an in-depth knowledge of cybersecurity and a strong technical background, convinced us since we first met in 2020, especially through their vision” explained Cyrus Contant, Investment Director at CMI. “Since we first met, the company succeeded to create a reliable, and sovereign alternative to non-European solutions with a state-of-the-art product and an impressive commercial traction.”
Erwan Bernard, Senior Business Manager at CMI specified, “Cybersecurity is more strategic than ever, and we are proud to support HarfangLab to take a new step and develop its international activities.”
