Glimps has announced a €6 million fundraising round led by Ace Capital Partners, a private equity firm in the strategic industries and cybersecurity sector. Founded in November 2019, the startup specializes in automating enterprise IT security and malware detection processes using artificial intelligence. This fundraising will allow it to accelerate its development and has notably received the support of Breizh Up, the co-investment fund of the Brittany Region, managed by Sofimac Innovation.
Thanks to this fundraising, Glimps will activate several levers to improve on three levels. First, at the geographical level: the company would like to open offices in North America as part of its internationalization. Secondly, with regard to the market, to extend its use value to various sectors of activity by developing its conceptualization technologies. Finally, the start-up plans to recruit new experts, with about ten new hires in 2021 and more than a hundred in the next four years.
Cyrille Vignon, co-founder and President of Glimps, explains this strategy:
“Our mission is to help make defense stronger than offense. We do this in our own way, of course, with conviction and enthusiasm. This fundraising will allow us to bring the benefits of our technology to more players, faster.”
Glimps has consolidated around the development of its AI augmented computer code conceptualization technology. It enables the detection and recognition of all code present in computer programs, without the need for source code. The use of AI allows to automatically identify all the similarities between the components of a file to be analyzed and the computer codes of several million programs.
This innovation has led to the development of two products: Glimps Malware, which detects new threats, and Glimps Audit, which audits all the code in a program. The start-up’s solutions have moreover been awarded the European Cyber Week 2019 Audience Award and the Jury’s Grand Prize in the 2020 edition of the same competition. This recognition has attracted the interest of Sofimac Innovation and Ace Capital Partners. The Executive Director of Ace Capital Parteners, Quentin Besnard, talks about the assets of Glimps that led the private equity firm to contribute to this fundraising:
“Cybersecurity is a field that requires a perpetual optimization of tools and innovations and an increasing use of disruptive technologies in order to guarantee the best level of protection for companies. The intensification of cyber threats that we are currently experiencing requires an accelerated development of these solutions. The expertise of the GLIMPS team and its ability to quickly build and market operational solutions that appeal to customers has impressed us since the project’s inception.”
Stéphane Lefevre-Sauli, Investment Director at Sofimac Innovation is pleased with this round of funding granted to Glimps:
“We are proud to support the growth of this young nugget
We are proud to support the growth of this very promising young Breton #Deeptech company, which confirms the dynamism and cybersecurity expertise in Brittany. The co-founders of GLIMPS, and their teams, have developed a unique technology for combating cybersecurity risk, which has already demonstrated the power and performance of its innovation to its customers.”