FTPA advised HarfangLab, a leading French cybersecurity company, in its recent €25 million funding round.
HarfangLab, a rising star in the French cybersecurity sector, has completed this round of financing with Crédit Mutuel Innovation, MassMutual Ventures and Elaia, its historic investor. This success reflects HarfangLab’s significant potential in the fast-growing cybersecurity sector.
Since its creation in 2018 by experts from Thales, the French Ministry for Armed Forces, and the National Cybersecurity Agency of France (ANSSI), HarfangLab has developed a unique “End Point Protection” software platform. It offers comprehensive protection for workstations, smartphones and servers in companies and government agencies. HarfangLab’s ability to detect and block cyberthreats using artificial intelligence algorithms makes it a genuine watchdog for the sector.
With sales set to grow by a spectacular 250% by 2022 and annual recurring revenues projected to exceed €10 million by 2023, HarfangLab is now preparing to expand its footprint on the international market. This round of funding will facilitate their expansion in Europe, starting with key markets such as Germany and Benelux. The company is also significantly investing in research and development, with 60% of its team dedicated to these activities.
This funding comes at a crucial time for the French cybersecurity industry, which is already experiencing considerable interest from investors. It illustrates the growing importance of the sector and HarfangLab’s central role in the ecosystem.
FTPA acted for HarfangLab with a private equity team comprising Charles-Philippe Letellier (partner), Mayssa Sader and Julie Baldinger (associates).