Cybersecurity start-up HarfangLab has announced that it has raised €5 million, including €3.5 million from Elaia. The French company is known for having developed an Endpoint Detection and Response (EDR) software that blocks ransomware. These cyber attacks are quite regular in France as it is the third most affected country in the world with an increase of these attacks up to 255% in 2020.

HarfangLab, a start-up specialized in cyber defense

The start-up HarfangLab was founded in 2018 by Gregoire Germain. The company publishes an AI-based cybersecurity solution aimed at businesses mainly. It is an EDR software that seeks to guarantee the highest level of security for a company’s data during the entire process of securing its IT assets. Last January, it received the first level security certification (CSPN) from the French National Agency for Information Systems Security (ANSSI).

The tool helps counter ransomware, which is malicious software that takes computer data hostage. The AI engine the platform uses speeds up threat detection and automates incident response. The start-up was one of the eleven winners of the Grand Défi Cyber at the end of 2020: a project subsidized by the French government with the aim of creating a new French ecosystem in the field of cybersecurity.

A fundraising to accelerate the development and marketing of its EDR software

HarfangLab has announced a €5 million financing, of which €3.5 million comes from Elaia. Armelle de Tinguy, investment director at Elaia, says of the investment fund’s support for the French start-up:

“HarfangLab’s market timing couldn’t have been more appropriate, as we are witnessing a surge of threats, including ransomware, that traditional tools are no longer able to satisfactorily prevent and contain. The team is tackling an absolutely critical issue with a product that impressed us greatly: lightweight, cloud-agnostic and open, and which is set to redefine the standards of the ecosystem. Moreover, we have identified a very high quality team, combining unique Tech expertise and a very strong ability to execute, so we are very confident in their ability to follow through on their ambitious vision, and we are very proud to accompany them in this new step.”

Gregoire Germain, CEO and founder of HarfangLab, on the financial partnership with Elaia:

“We are very happy to welcome Elaia as our first financial partner. It was logical for us to partner with a recognized and demanding VC in the deep Tech field. Between this investment from Elaia, the Grand Challenge funding and the reserves made available to us, we are confident in the development of our software and detection/reaction capabilities.”

The funding will be used by HarfangLab to further develop and commercialize its EDR software as part of its strategy to invest heavily in meeting the needs of the cybersecurity market. The start-up also wants to recruit a dozen additional experts to expand its technical palette and thus continue the recruitment strategy it had begun by recruiting former ANSSI employees and data scientists.

Translated from Cybersécurité : La start-up HarfangLab lève 5 millions d’euros pour développer et commercialiser son logiciel EDR