Cybersecurity startup HarfangLab raises €25 million in Series A funding round to expand across Europe.
Today, HarfangLab, a French cybersecurity company, has closed a €25 million Series A funding round led by Crédit Mutuel Innovation. MassMutual Ventures (CMI) also participated alongside Elaia, a long-standing investor in HarfangLab, having led the company's first €5 million funding round back in 2021.
HarfrangLab offers lightweight, cloud-agnostic open endpoint detection and response (EDR) solutions to enhance the identification and neutralisation of cyberattacks against companies,
Its solution is certified by the French National Cybersecurity Agency (ANSSI), and the company is growing fast, having increased its revenues by 250 percent in 2022. It has over 250 clients and experience protecting over 800,000 endpoints and servers.
Over 60 percent of HarfangLab's workforce is now devoted to research and development, maintaining and growing the company's excellent technical reputation.
The new funds will accelerate HarfangLab's business expansion in Europe and facilitate investment in research and development. HarfangLab will continue to invest in the latest AI, detection automation and threat intelligence technologies and accelerate recruitment and investment to develop its partner network and multiply its sales force.
Grégoire Germain, CEO and co-founder at HarfangLab shared:
"Our solution is now a must-have in the French cybersecurity market: it's certified by ANSSI, has received great results at the latest MITRE ATT&CK Evaluations, and is constantly adding new innovations to fight against the ingenuity of cybercriminals.
This funding round equips us with the resources to continue investing in research and take the next step in commercialising our solution in Europe with one ambition: to always protect our clients, as the best partners would do."
According to Cyrus Contant, Investment Director at CMI:
“The founding team of HarfangLab, who as an in-depth knowledge of cybersecurity and a strong technical background, convinced us since we first met in 2020, especially through their vision.
Since we first met, the company succeeded to create a reliable, and sovereign alternative to non-European solutions with a state-of-the-art product and an impressive commercial traction.”
According to Armelle de Tinguy, Partner at Elaia:
"HarfangLab continues to go from strength to strength. At Elaia, we are pleased to continue our support of this excellent team, who we are proud to have supported from the beginning.
The impressive achievements so far and the proven top-tier performance of their product indicate a strong future for HarfangLab as they look towards the next frontier of cybersecurity.
We look forward to continuing the journey alongside the team."