Tenacy announces €2.5 million in 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 support from 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, wants to accelerate the development of its software and customer acquisition to establish itself as the leading business solution in France for CISOs (Chief Information Security Officers). This acceleration will involve recruiting around 15 technical 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 offers IT security directors and managers features for:
• Gain complete visibility into the areas that need to be secured
• Effectively manage cybersecurity action plans
• Save time by automating tasks
• View aggregated data for reliable and rapid reporting
Faced with an increase in cyberattacks and growing risk management constraints weighing on CISOs, AugmentedCISO is establishing itself as the essential tool to replace custom or overly generalized solutions.
According to Cyril Guillet and Julien Coulet, co-founders of AugmentedCISO, "This fundraising is part of a strategic plan to make AugmentedCISO the leading European GRC solution dedicated to cybersecurity. With more than 15 years of experience in cybersecurity, we quickly found our Product Market Fit and gained the trust of more than 30 mid-market and large enterprise customers. Identified by Gartner as a key player in Integrated Risk Management (IRM), we are firmly established in the cyber ecosystem, notably as a sponsor of CESIN. The complementary nature, experience, and solidity of the investors in this first round of financing will enable us to accelerate the implementation of our strategic plan. On a human level, our values and ambitions are perfectly aligned. Our team will now accelerate the development of advanced features that will help CISOs in their daily work to better fulfill our mission: to contribute to the overall improvement of corporate protection against the scourge of cybercrime. "
The cybersecurity experience of AugmentedCISO's founders has enabled them to identify a real unmet need among Chief Information Security Officers (CISOs) in mid-sized companies, who currently rely primarily on Excel to manage their cyber environment. In a market crowded with solutions to protect against cyber risk (detection/protection), the positioning of AugmentedCISO software as a comprehensive cybersecurity management solution for businesses seemed entirely relevant to us. The company is currently enjoying excellent market traction with the increase in cyber threats to businesses, regardless of their size." adds Gwenaël Hamon, Member of the Kreaxi Executive Board.
"In a rapidly growing market driven both by the increasing importance of GRC issues and a labor shortage that is driving ever greater automation, we were impressed by Cyril and Julien's vision and ability to execute. We look forward to working alongside them to reach 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, explains: "We had the opportunity to use the AugmentedCISO solution for our own needs. This allowed us to clearly identify the effectiveness of the solution in managing our cyber policy and certification processes. We are convinced that AugmentedCISO meets a clear need among our customers and markets to protect their data and their businesses. The solution provides real value to CISOs who use it to manage 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 managing cybersecurity in companies. It enables them to minimize their cyber risks. Based in Lyon, AugmentedCISO currently has 13 employees and aims to reach a workforce of 28 by the end of 2022. Website: www.augmentedciso.com
About KREAXI
KREAXI is one of France's leading venture capital firms, investing in innovative start-ups with strong 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 last 30 years (including 21 IPOs and more than 300 divestments, 150 of which were industrial), and holds around 60 active investments in its portfolio, with a team of 12 professionals based in Lyon and Paris. For more 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 the management company Auriga Partners, the fund has brought together nearly 70 investors from the cybersecurity universe or adjacent environments who, through their expertise or their roles as executives, entrepreneurs, or active members of the cyber ecosystem, are dedicated to multiplying value creation for the startups they support. Investing €500,000 seed funding in the industry's most promising companies, Cyber Impact provides a strong business boost and accelerates the transition of startups to Series A. Ultimately, Cyber Impact aims to build a portfolio of 20 to 25 investments.
For more information: www.cyberimpact.vc
About TEAMWORK
The TeamWork group is an independent group with a turnover of €152 million and 950 internal employees in Europe, North America, and Asia. Its activities include strategy consulting, transformation and optimization via Tomorrow by TW, business solutions (SAP and SalesForce), data valuation, and all infrastructure-related needs (on-premise and cloud) and associated security.
TeamWork regularly invests in companies within its ecosystem that are identified as having high added value, enabling them to support their solution and market development and achieve ambitious goals.
For more information: www.teamwork.net
About Crédit Agricole Création
CA Création is a private equity firm specializing in providing long-term financing to innovative start-ups. A wholly-owned subsidiary of Crédit Agricole Centre-Est, CA Création has been supporting projects in its regions (Rhône, Ain, Saône-et-Loire, and northern Isère-Drôme-Ardèche) for over 20 years, generally in partnership with leading local private equity players. Upholding the values of Crédit Agricole's mutualist model, CA Création intends to step up its involvement in innovative projects, particularly in the housing, health, environment, and agri-food sectors.
Press contacts: Cyril Guillet – CEO – cyril.guillet@augmentedciso.com
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