Paris-based start-up elba, a cybersecurity platform for teams, has raised €2.5 million in its first funding round. elba will use the funding to expand internationally and invest in research and development.
The brain child of co-founder and CEO Théo Rouer, he came up with the idea for elba with start-up studio eFounders after launching a cybersecurity awareness company to help SMBs’ IT teams train their employees. Not quite the fix he thought it was he saw that awareness-only solutions were not effective in the long term - in a world where SaaS usage is exploding, an everyday use software solution was the only way to go.
“The explosion of SaaS security risks has left IT teams in a tricky situation. Identifying employees’ security issues manually is tedious work, and even traditional solutions like SIEMs or CASBs that automate issue detection are not effective as IT teams still need to solicit more context from employees to investigate issues. That’s why we created elba,” says Rouer.
elba integrates with its clients’ SaaS ecosystem, detects security issues and notifies their teams to fix them in one click.
The funding round is led by XAnge with participation from Kima Venture, Plug and Play US, Uncorrelated and Angel Invest, as well as leading security experts such as Netflix’s former CISO Jason Chan, Sqreen’s CTO Jean-Baptiste Aviat and GitGuardian's CTO Eric Fourrier.
“Cybersecurity will be one of the most critical challenges for SMBs in the next decade. At XAnge we have been convinced by the operating system approach of elba, as well as the ability of Théo, Gregoire, Antoine and team to execute perfectly in a fast-paced environment,” says Alexis Du Peloux, XAnge.