AugmentedCISO raises €2.5 million for the first time

March 8, 2022

AugmentedCISO, a Lyon-based start-up that publishes and distributes SaaS software for enterprise Cybersecurity management, has announced a €2.5 million round of funding to accelerate its growth in the Cybersecurity and GRC (Governance, Risk Management and Compliance) markets in France.

This first round of financing was carried out with Kreaxi, Cyber Impact, Teamwork Capital Management and Crédit Agricole Création, with the support of BPI France, BNP Paribas and Banque Populaire Auvergne Rhône-Alpes.

AugmentedCISO, whose SaaS solution has already been adopted by major accounts such as Aesio, Biomérieux, Cdiscount, Groupe Rocher, Lumapps and Bouygues Construction, is aiming to accelerate the development of its software and customer acquisition to establish itself as France's #1 business solution for CISOs (Information Systems Security Managers). This acceleration will notably involve the recruitment of some fifteen tech and sales profiles over the next 12 months.

AugmentedCISO's mission is to combat cybercrime by enabling companies to better manage their cybersecurity. Its software, distributed in SaaS mode, centralizes all cybersecurity processes and data in a single tool. It provides IT security directors and managers with functionalities for :

- Gain full visibility of their security perimeters
- Efficiently manage their cybersecurity action plans
- Save time by automating tasks
- Visualize aggregated data for fast, reliable reporting

Faced with an increase in cyberattacks and growing risk management constraints on CISOs, AugmentedCISO is emerging as the essential tool to replace custom or overly generalized solutions.

According to Cyril Guillet and Julien Coulet, co-founders of AugmentedCISO, "This round of financing is part of our strategic plan to make AugmentedCISO the 1st European GRC solution dedicated to cybersecurity. With over 15 years' experience in cybersecurity, we have rapidly found our Product Market Fit and gained the trust of over 30 large and mid-sized customers. Identified by Gartner as a major player in IRM (Integrated Risk Management), we have established a long-term presence in the cyber ecosystem, notably through our sponsorship of CESIN. The complementary nature, experience and solidity of the investors in this 1st financing round will enable us to accelerate the implementation of our strategic plan. In human terms, our values and ambitions are perfectly aligned. From now on, our team will be accelerating the development of advanced functionalities that will help CISOs in their day-to-day work, so that we can continue to fulfill our mission of contributing to the global improvement of corporate protection against the scourge of cybercrime.

"The experience of AugmentedCISO's founders in the field of cybersecurity has enabled us to identify a real unmet need among Information Systems Security Managers (ISSMs) in small and medium-sized businesses, who today work mainly with Excel to manage their cyber environment. In a market cluttered with solutions for protecting against cyber risks (detection/protection), we felt that AugmentedCISO's positioning as a solution for overall corporate cybersecurity management was highly relevant. The company is currently benefiting from excellent market traction with the increase in cyber threats to businesses of all sizes. adds Gwenaël Hamon, Member of Kreaxi's Management Board.

"In a fast-growing market driven both by the increasing importance of CRM issues and by a labor shortage justifying ever greater automation, we were won over by Cyril and Julien's vision and ability to execute. We look forward to working alongside them to achieve new milestones and contribute to the success of this joint venture", emphasize Jean-Noël De Galzain, Edouard De Rémur, Georges Lotigier and Thierry Rouquet, co-founders of Cyber Impact.

Philippe Rey-Gorrez, CEO of Teamwork, comments: "We had the opportunity to select the AugmentedCISO solution for our own needs. This enabled us to clearly identify the effectiveness of the solution in directing our Cyber policy and certification processes. We are convinced that AugmentedCISO meets a clear need of our customers and markets to protect their data and their businesses. The solution brings real value to CISOs who use it tomanage their ISMS."

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About AugmentedCISO
Founded in 2018 by Cyril Guillet and Julien Coulet, cybersecurity consultants for over 15 years, AugmentedCISO is the first business solution dedicated to cybersecurity management in companies. It enables them to minimize their cyber risks. Based in Lyon, AugmentedCISO currently has 13 employees and aims to reach 28 by the end of 2022. Website: www.augmentedciso.com

About KREAXI
KREAXI is one of France's leading innovation capital firms, investing in young innovative companies with high growth potential, and managing nearly €150 million through a range of pan-European and regional funds. KREAXI has invested in more than 550 companies over the past thirty years (including 21 IPOs and over 300 disposals, 150 of which were industrial), and holds some sixty active participations in its portfolio, with a team of 12 professionals based in Lyon and Paris. For further information: www.kreaxi.com

About Cyber Impact
Cyber Impact is a venture capital fund whose strategy is to accelerate the emergence of future European cybersecurity champions. Created by four leading cybersecurity entrepreneurs - Jean-Noël de Galzain (Wallix), Georges Lotigier (Vade Secure), Edouard De Rémur (Oodrive), Thierry Rouquet (Sentryo) and in partnership with Auriga Partners, the fund has brought together nearly 70 investors from the world of cybersecurity or adjacent environments who, through their expertise or their functions as managers, entrepreneurs or active members of the cyber ecosystem, are destined to multiply the creation of value for the supported startups. Investing seed capital of €500K in the industry's most promising companies, Cyber Impact provides a strong business impetus and accelerates startups' transition to Series A status. Eventually, Cyber Impact aims to build up a portfolio of 20 to 25 investments.
Further information: www.cyberimpact.vc

About TEAMWORK
TeamWork is an independent group with sales of €152 million and 950 internal employees in Europe, North America and Asia. Its activities cover strategy consulting, transformation and optimization via Tomorrow by TW, business solutions (SAP and SalesForce), data enhancement and, last but not least, all infrastructure requirements (On premise & cloud), and their associated security.
TeamWork regularly invests in companies in its ecosystem identified as having high added value, enabling them to support their solution and market development and achieve ambitious goals.
For further information: www.teamwork.net

About Crédit Agricole Création
CA Création is a private equity company specializing in equity financing for innovative start-ups. A wholly-owned subsidiary of Crédit Agricole Centre-Est, CA Création has been supporting projects in its home regions (Rhône, Ain, Saône et Loire and Nord Isère-Drôme-Ardèche) for over 20 years, usually in partnership with leading local private equity firms. In keeping with the values of the Crédit Agricole mutualist model, CA Création intends to step up its involvement in innovative projects, particularly in the housing, healthcare, environment and agri-food sectors.

Press contacts: Cyril Guillet - CEO - cyril.guillet@augmentedciso.com