TEHTRIS joins Jolt Capital portfolio
TEHTRIS, the French software publisher of the TEHTRIS XDR Platform and technology leader against cyber espionage and cyber sabotage, announces its second round of financing of €44 million (including €36 million in growth equity) led by Jolt Capital, a specialist in private equity for responsible deeptech companies, accompanied by the historic Series A funds, Tikehau Ace Capital, the leading European private equity firm in digital security, Open CNP, the corporate venture fund of CNP Assurances, and Nouvelle-Aquitaine Co-Investissement (NACO). This is a record breaking second fundraising for companies developing eXtended Detection and Response (XDR) technologies.
TEHTRIS develops and markets the TEHTRIS XDR Platform (eXtended Detection and Response) cyber defense solution that detects and neutralizes known and unknown cyber threats in real-time and without human action in companies and public administrations. This cyberdefence solution is interoperable for augmented and hyper automated remediation.
Founded in 2010 by Éléna Poincet and Laurent Oudot, leaders in the fields of operational and technical intelligence, TEHTRIS employs more than 260 people in Europe. Since its €20M Series A financing in November 2020, TEHTRIS has created 220 jobs in France and Europe and opened subsidiaries in Germany, Spain, Japan, and Canada to meet its ambition to build a true global digital trust thanks to its TEHTRIS XDR Platform technology and its 24/7 "Follow the Sun" business and technical support.
The funds raised in growth equity are intended to accelerate the company's development by continuing massive recruitment (300 jobs being created), constant innovation in the development of solutions, as well as developing its sales forces, at the service of its customers and partners. The objective is to help companies worldwide to fight against cyber-aggressions such as data hacking or ransomware.
The TEHTRIS XDR Platform protects the digital territory of its customers in more than 120 countries, providing an extended capability to detect and respond to security incidents. Interoperable, the platform replaces some of the limited traditional products by orchestrating different cybersecurity solutions with its Artificial Intelligence, behavioral analysis engine and real-time updated threat database (Cyber Threat Intelligence), for augmented and hyper-automated remediation. TEHTRIS' innovative sensors support operated security service provider partners, who monitor millions of IP addresses and analyze tens of billions of events on systems, networks, and the cloud every week.
"We are delighted with this new step in our development to bring the excellence of French technology to the world, in the service of European digital autonomy. As a company with a mission, we are committed with our teams to protect cyberspace so that it becomes an environment of trust and future. As a major player in cybersecurity, we also have an economic role and are creating 300 new jobs," introduces Éléna Poincet, CEO of TEHTRIS, "The impact of cyberthreats goes far beyond the digital world and borders. Our deployment in Asia (Hong Kong, Japan), America (Canada) and Europe (Spain, Germany) completes the initial core in France, serving our international customers, major players in industry, engineering and services."
"There have never been so many successful cyber-attacks and intrusions on the planet. This growth equity contribution supports our strategy of research and development and constant innovation in the ongoing arms race. The speed of the defenders will be one of the key factors in the resilience of digital infrastructures", explains Laurent Oudot, CTO of TEHTRIS, "Detection and analysis remain an important foundation, but the period of pandemic followed by unprecedented international tensions have proven that the response to threats requires solutions that minimize response time and a global vision of the threats, in the face of data hacking and numerous ransomware demands.
"The cost of cybercrime worldwide tripled during the Covid pandemic to more than $3 trillion annually, or about the GDP of France, and by 2030 that amount could increase 10-fold. Needless to say, with the proliferation of new malware strains and the increasing complexity of information systems, traditional cyber protection solutions are no longer able to cope. TEHTRIS' integrated Extended Detection/Response (XDR) platform enables its customers to deal with this inflation of attacks instantly and effectively, notably through the use of AI. TEHTRIS is a true leader that we are delighted to see join Jolt's portfolio, thanks to the continuous excellence of its product, the attention paid to the quality of its recruitment and its significant growth potential in markets throughout Europe and South-East Asia," said Guillaume Girard, Managing Partner at Jolt Capital.
"Tikehau Ace Capital is very proud to accompany the spectacular development of TEHTRIS since 2020 and to continue with Jolt Capital its support to the founders Eléna and Laurent. The creation of European champions in cybersecurity is a priority of our investments and we intend to remain a trusted partner of the company. Today, TEHTRIS demonstrates all the qualities required for a successful transition to scale: the expertise of the teams that detect and neutralize the most sophisticated computer attacks, the global positioning of the company and the support of renowned partners allow it to accompany its customers in a global way", adds François Lavaste, Executive Director at Tikehau Ace Capital.
About TEHTRIS (https://tehtris.com)
Founded in 2010, TEHTRIS is the software publisher of the TEHTRIS XDR Platform, the world leader in automatic, real-time, non-human neutralization of cyber attacks. With its "Security & Ethics by design" engineering, this solution provides cybersecurity specialists with a holistic view of their infrastructure, while guaranteeing the confidentiality of their data. The TEHTRIS XDR Platform is interoperable with existing security solutions through its APIs and integrated orchestrator. Thanks to its technology, the company is positioned as a European trusted third party. Together with its international partners, TEHTRIS XDR Platform monitors, analyzes, detects, and neutralizes threats worldwide for the benefit of major players in industry, transportation, engineering, services, and administrations. TEHTRIS is constantly on the lookout for cybercrime and listens to its customers, helping them to reduce risks as much as possible and to deal with the unexpected. In November 2020, TEHTRIS raised a record €20 million in Series A funding from industry investors. TEHTRIS is recruiting to accelerate its development and continue its technological research roadmap.
About Jolt Capital (www.jolt-capital.com)
Jolt Capital is an independent private equity firm specialized in growth investing in advanced technology companies, with a mission to build future European leaders with a global focus. Since 2011, Jolt Capital invests in European B2B companies with revenues between €10M and €50M. Jolt Capital's team is composed solely of experienced investors and managers of high-tech companies. Its proprietary AI platform, Jolt.Ninja, enables enriched sourcing, accelerated due diligence and automatic detection of investment or acquisition targets. Jolt Capital is located in Paris, Lausanne, Copenhagen, and Milan.
About Tikehau Ace Capital (www.tikehau-ace.capital)
Tikehau Ace Capital is a private equity firm specializing in strategic industries and technologies, with €1.3 billion in assets under management. Founded in 2000, Tikehau Ace invests with a vertical approach in strategic industries (e.g. aerospace, defense and technologies such as cyber security). Tikehau Ace Capital has built its model on strategic partnerships with leading companies (including Airbus, Safran, Dassault Aviation, Thales, EDF, Naval Group and Sopra Steria), which invest in its funds and maintain an ongoing dialogue with the company, enabling Tikehau Ace Capital to take a differentiated approach to investment. Tikehau Ace is present in Paris, Toulouse and Madrid, and benefits from the worldwide presence of Tikehau Capital.
About CNP Assurances:
A major player in the French personal insurance market, CNP Assurances is present in 19 countries in Europe, notably in Italy, and in Latin America, where it is very active in Brazil, its second largest market. As an insurer, co-insurer and reinsurer, CNP Assurances has more than 36 million personal protection policyholders worldwide and more than 11 million savings and pensions customers. In line with its business model, CNP Assurances' solutions are distributed by multiple partners and are adapted to their physical or digital distribution channels, as well as to the needs of customers in each country in terms of protection and comfort. CNP Assurances is a subsidiary of La Banque Postale. It has a net profit of 1.552 billion euros in 2021.
About NACO (Nouvelle-Aquitaine Co-Investissement) / M Capital
Created by the New Aquitaine Region, NACO is a €60 million Regional Co-investment Fund. It is dedicated to supporting and financing all companies in New Aquitaine that are committed to economic, social and ecological change. NACO is advised by the management company M Capital Partners based in New Aquitaine with teams in Bordeaux, Poitiers and Limoges.