Between remote work prompted by COVID and the conflict between Russia and Ukraine, business communications need to stay secure both internally and externally. A report by Market Research Future (MRFR) projects that the email security market will be worth $6.8 billion by 2025.
Protecting more than 1 billion corporate and consumer mailboxes, France-based threat detection and response platform Vade has raised €28 million from Tikehau Ace Capital, the French government, through French Tech Souveraineté, which is part of France 2030 and operated by Bpifrance, and Auriga Partners. The company plans to go for another round of financing in the coming months.
The latest round of funding will drive the startup’s international expansion in key markets like North America and Europe and provide additional investment to enhance its cybersecurity products for Internet Service Providers (ISPs), MSPs and small and medium businesses.
Founded in 2009, the cybersecurity SaaS platform develops threat detection and response technology with artificial intelligence. Its products and solutions protect consumers, businesses, and organizations from email-borne cyberattacks, including malware/ransomware, spear phishing/business email compromise, and phishing.
Georges Lotigier, CEO of Vade said: “With remote work becoming commonplace, even after the pandemic, cybersecurity is at the top of most companies’ priority list. This latest funding round will help us realize our ambitious plans to significantly grow in markets like North America and Asia.”
Francois Lavaste, executive director at Tikehau Ace Capital added: “Managed Service Providers (MSPs) and Managed Security Service Providers (MSSPs) need to have technology that can easily and effectively neutralise the latest threats.”