Decoration PressNEWSROOM

Cybersecurity company HarfangLab raises €25 million to expand in Europe

7 min

New round of financing for HarfangLab, supplier of EDR software – the watchdog that monitors corporate servers and endpoints – which has raised €25 million in Series A financing. The confidence shown by Crédit Mutuel Innovation, MassMutual Ventures and Elaia, the company’s long-standing investor, will enable the company to expand internationally, and to continue investing to offer its customers a tool of technological excellence.

HarfangLab, a French cybersecurity company that publishes EDR (Endpoint Detection and Response) software to detect and block cyberattacks, today announced that it has raised €25 million in Series A funding in a round led by Crédit Mutuel Innovation. Other investors include MassMutual Ventures and Elaia, HarfangLab’s long-standing investor, which led the first 5 million euro fundraising round in 2021.

photograph of the four founders of HarfangLab. From left to right: Maxime, Grégoire, Xavier and Mathieu.
Delivering an EDR of excellence has always been HarfangLab’s priority, and the very good results of its first participation in the MITRE ATT&CK evaluations, in 2023, attest to its performance. Over and above its technical robustness, also recognized by certification from the French National Agency for Information Systems Security (ANSSI), HarfangLab offers a solution that is acclaimed by its customers and partners alike. With over 250 customers and 800,000 protected workstations and servers, the company is expanding rapidly, with revenues expected to grow by over 250% by 2022.

This is the second round of funding for the company since it was founded in 2018 by Grégoire Germain and Xavier Boreau. Back then, the funds raised enabled the company to invest primarily in the research and development ofEDR, a cyber-attack detection and blocking solution that acts as a watchdog to protect a company’s digital assets. This, in order to offer its customers and partners a high-performance, easy-to-operate tool that meets their requirements for excellence in the detection, blocking and remediation of cybersecurity incidents. Today, more than 60% of HarfangLab’s workforce is dedicated to research and development, giving the company and its tools widely recognized technical excellence.

HarfangLab is now looking to accelerate its development in Europe, and continue to invest in research and development. Faced with a constantly evolving cyber threat, artificial intelligence, detection automation and cyber threat intelligence are critical and highly strategic areas in which the company wishes to focus in order to be the best ally, in terms of both performance and agility, for European companies and organizations. To raise the profile and visibility of its solutions and expertise, HarfangLab will also be stepping up recruitment and investment to develop its network of partners, expand its sales force tenfold and diversify its skills and activities.

In September 2023, HarfangLab has already strengthened its Management Committee with the recruitment of a Chief Strategy Officer, Anouck Teiller. This appointment is in line with the company’s objective to grow and develop its footprint across Europe.  

Grégoire Germain, CEO and co-founder of HarfangLab, comments: “With ANSSI certification, results from MITRE ATT&CK assessments placing it among the best, and constant innovation to counter the ingenuity of cyber-attackers, our solution is now a must-have on the French cybersecurity market. Thanks to our investors, who are placing their trust in us today with this fund-raising, we will not only continue to invest in research and development, but also enter a new phase in the marketing and development of our solution in Europe, with one ambition in mind: to protect our customers ever more effectively, as the best watchdog would.”

The founding team, with their in-depth domain knowledge and strong technical background, has convinced us since our first discussions in 2020, not least through their vision,” evokes Cyrus Contant, Investment Director at CMI. “Since that meeting, the company has succeeded in creating a credible, sovereign alternative to foreign solutions, with a state-of-the-art solution and impressive commercial traction. Erwan Bernard, Senior Account Manager at CMI adds, ” Cybersecurity is a more strategic sector than ever, and we are proud to support a company such as HarfangLab in taking the next step and developing its international business.

Armelle de Tinguy, Partner at Elaia adds, ” HarfangLab continues to move forward. At Elaia, we are delighted to continue supporting this excellent team, which we have been proud to accompany since its inception. The company’s excellent trajectory and the high-level performance of their product bode well for HarfangLab’s future. We look forward to continuing the journey alongside the entrepreneurs.

The frequency and sophistication of cyber attacks continue to increase every year, causing financial and reputational damage to many companies and public administrations. To counter this, HarfangLab’s highly experienced team has developed a market-leading EDR , the only one to be certified by the French National Agency for Information Systems Security (ANSSI). We are delighted to support Grégoire and the HarfangLab team as they continue to create a European champion,” concludes Ryan Collins, Managing Partner at MassMutual Ventures.

For more information on HarfangLab, click here: www.harfanglab.io

About HarfangLab

HarfangLab is a French cybersecurity company that publishes EDR (Endpoint Detection and Response) software, a technology that anticipates and neutralizes cyberattacks on computers and servers. Certified by ANSSI since 2020, HarfangLab now has over 250 customers, including government agencies, businesses and international organizations operating in highly sensitive sectors. HarfangLab’sEDR , currently deployed on over 800,000 endpoints, stands out for: the openness of its solution, which integrates natively with all other security bricks; its transparency, as the data collected byEDR remains accessible; and the digital independence it offers, as customers are free to choose their hosting mode: public or private cloud, or their own infrastructure.

Visit our website: www.harfanglab.io

About Elaia

Elaia is a leading European private equity firm with a strong technological DNA. We invest in high-potential digital and deep-tech startups from the seed stage and accompany them until they become world leaders. For 20 years, our commitment has been to deliver financial performance with strong values.

We are proud to have been the first professional investor in over 100 startups, including many success stories such as Criteo (Nasdaq), Orchestra Networks (acquired by Tibco), Volterra (acquired by F5), Mirakl (valued at $3.5 billion in Series E) and Shift Technology (valued at over $1 billion in Series D).

Read more https://www.elaia.com@Elaia_Partners

About Crédit Mutuel Innovation

Crédit Mutuel Innovation is the venture capital subsidiary of Crédit Mutuel Equity (€4 billion of capital under management). It invests between €1 and €20 million in innovative companies in the digital, life sciences and deeptech sectors. Crédit Mutuel Innovation helps entrepreneurs develop their growth potential by connecting them to the companies in its ecosystems. Because it takes more than 5 years to create a world leader, Crédit Mutuel Innovation invests its own capital on a long-term basis and builds long-term relationships with the entrepreneurs it supports.

For more information: www.creditmutuel-innovation.eu

About Mass Mutual Ventures

MassMutual Ventures (MMV) is a global, multi-tiered venture capital firm investing in financial technology, enterprise SaaS, climate technology, healthcare technology and cybersecurity. With teams based in Boston, Singapore and London, MMV manages more than $1 billion in investment capital worldwide. MMV helps accelerate the growth of companies by providing capital, contacts and advice. With its in-depth expertise and extensive Fortune 500 network, MMV helps entrepreneurs create compelling, scalable businesses of value.

For more information, visit www.massmutualventures.com.

About Clipperton

Clipperton is a leading investment bank dedicated to technology and growth companies. Clipperton provides strategic and financial advice to Europe’s leading entrepreneurs, companies and investors seeking to execute transactions such as strategic M&A, private equity and private placements. Founded in 2003 and with offices in Paris, Berlin, Munich, London, New York and Beijing, Clipperton has completed over 400 M&A and private placement transactions with high-growth technology start-ups, blue-chip companies and renowned financial investors.