PRESS RELEASE
Paris, 6th December 2023 – ProvenRun, the cybersecurity software program firm, declares a profitable €15 million fundraising spherical. This funding is led by Tikehau Capital, the worldwide different asset supervisor, by its new classic of Brienne, its flagship non-public fairness cybersecurity technique with the French Ministry of Defence’s Definvest fund, managed by Bpifrance.
Established by serial entrepreneur Dominique Bolignano, ProvenRun provides the world’s most safe working system (OS) and apps for linked automobiles and good units. Their standout product, ProvenCore, is the one OS to achieve the best certification stage (EAL7) on Frequent Standards, the main international commonplace in laptop safety. By way of a rigorous, mathematically verified methodology, it is assured to be near error-free, even in its machine code.
ProvenCore gives security-by-design for the long run, slightly than reacting to and firefighting threats. Carmakers and IoT machine builders can attain best-in-class cybersecurity, develop and certify purposes sooner, get forward of future regulatory necessities and dramatically scale back their lifecycle upkeep prices.
ProvenRun’s cutting-edge know-how focuses on vital industries, with a specific emphasis on the aerospace and defence, automotive and semiconductor sectors. Its secure-by-design software program options successfully sort out the challenges arising from the speedy development of the Web of Issues (IoT), constructing on its greatest in-class Trusted Execution Surroundings and attaining the best out there safety towards distant cyber threats. ProvenRun has emerged as a pivotal accomplice in embedding software program safety in software-defined automobiles for carmakers and tier 1 suppliers, and in microcontrollers for chipmakers like STMicroelectronics.
The Collection A funding will assist speed up ProvenRun’s product roadmap (automotive safety purposes, Risc-V architectures) and its geographic growth into North America.
Tikehau Capital’s funding is made by its non-public fairness cybersecurity technique, which presently stands as one of many largest non-public fairness automobiles devoted to digital safety in Europe. The fourth classic of this technique not too long ago accomplished its first shut at €200 million. Tikehau Capital is dedicated to investing in pioneering know-how, fortifying digital safety on a broader scale and supporting corporations in delivering state-of-the-art options inside the cybersecurity business.
“Since getting into the cybersecurity sector as buyers, Tikehau Capital has unwaveringly embraced the “secure-by-design” philosophy. The options crafted by ProvenRun stand as an excellent instance of fortifying the foundations of embedded software program for vital structure. We now have full confidence in ProvenRun’s industrial potential and its dynamic leaders, Dominique Bolignano and Thierry Chesnais,” declared Gilles Daguet, Head of Tikehau Capital’s Personal Fairness Cybersecurity Technique.
“ProvenRun’s ambition is to boost the requirements of cybersecurity and construct belief within the Web of Issues. Distant cyber threats are rising and our formally confirmed OS gives the very best line of defence. Tikehau Capital’s funding will assist us speed up our improvement roadmap and worldwide development,” declared Dominique Bolignano, ProvenRun Founder and Chairman.
IGA Alexandre Lahousse, Head of the Industrial Affairs and IE Division (DGA): “Securing complicated embedded programs is on the very core of the Ministry of Defence’s digitisation technique. Provenrun is a pioneer on this area, with state-of-the-art know-how for each civilian and army purposes. It can now be capable to tackle a brand new dimension within the cybersecurity sector, making an energetic contribution to the cybersecurity of linked programs.”
“After financing its R&D stage with grants, Bpifrance is proud to proceed to assist this breakthrough know-how on this new stage of its improvement. Concentrating on the cybersecurity marketplace for embedded and significant structure with a best-in-class safe OS, ProvenRun absolutely addresses sovereignty and nationwide protection points, consistent with Definvest’s funding technique” declared Stephane Lefevre Sauli, Senior Funding Director of Bpifrance.
About ProvenRun
ProvenRun’s mission is to supply clients with the Trusted Merchandise and Companies that may assist them embed safety inside their infrastructure of linked good units wherever that is required, on the chip, machine, edge or cloud ranges. With their secure-by-design options, ProvenRun resolves the safety challenges arising from the IoT revolution whereas dramatically enhancing the safety towards distant cyberattacks. For extra data, please go to www.provenrun.com.
About Tikehau Capital
Tikehau Capital is a world different asset administration group with €42.0 billion of property underneath administration (at 30 September 2023).
Tikehau Capital has developed a variety of experience throughout 4 asset courses (non-public debt, actual property, non-public fairness and capital markets methods) in addition to multi-asset and particular alternatives methods.
Tikehau Capital is a founder led workforce with a differentiated enterprise mannequin, a powerful steadiness sheet, proprietary international deal move and a monitor file of backing top quality corporations and executives.
Deeply rooted in the actual economic system, Tikehau Capital gives bespoke and revolutionary different financing options to corporations it invests in and seeks to create long-term worth for its buyers, whereas producing constructive impacts on society. Leveraging its robust fairness base (€3.1 billion of shareholders’ fairness at 30 June 2023), the agency invests its personal capital alongside its investor-clients inside every of its methods.
Managed by its managers alongside main institutional companions, Tikehau Capital is guided by a powerful entrepreneurial spirit and DNA, shared by its 757 staff (at 30 September 2023) throughout its 15 places of work in Europe, the Center East, Asia and North America.
Tikehau Capital is listed in compartment A of the regulated Euronext Paris market (ISIN code: FR0013230612; Ticker: TKO.FP). For extra data, please go to www.tikehaucapital.com.
About Bpifrance
Bpifrance Investissement is the administration firm that handles Bpifrance’s fairness investments. Bpifrance is the French nationwide funding financial institution. It funds companies – at each stage of their improvement – by loans, ensures, fairness investments and export insurances. Bpifrance additionally gives additional monetary companies (coaching, consultancy) to assist entrepreneurs meet their challenges (innovation, export…). For extra data, please go to: www.bpifrance.fr and presse.bpifrance.fr – Comply with us on Twitter: @Bpifrance – @BpifrancePresse
Concerning the fund Definvest and the DGA
With €100 million offered by the French Ministry of Protection, Definvest combines the complementary experience of the French Protection Procurement Company (DGA) and Bpifrance. As an extension of the SME assist mechanisms already deployed by the DGA, the fund goals to take fairness stakes in strategic Protection Industrial and Expertise Base (DITB) SMEs, alongside monetary and industrial buyers, to allow them to develop independently. The French Protection Procurement Company (DGA) is an skilled testing and engineering arm of the French Ministry of Protection. The DGA’s mission is to equip armies in a sovereign method, put together the way forward for protection programs, promote European cooperation, and assist exports. Because the State’s largest purchaser, in 2021 the DGA positioned €23.5 billion of orders with business and invested €1.404 billion in innovation and protection know-how initiatives. With 18 websites in France, its 10,000 civilian and army women and men (almost 60% of whom are managers, engineers or consultants) and its community of worldwide collaborators, the DGA is concerned in all areas of protection (land, naval and air fight, digital communication and knowledge programs, deterrence, area, cyber safety, robotics, and so forth.).
Extra data on: www.protection.gouv.fr/dga and www.ixarm.com – Comply with us on Twitter : @DGA
Disclaimer
The technique talked about on this press launch is reserved for skilled buyers and is managed by Tikehau Funding Administration SAS, a portfolio administration firm permitted by the AMF since 19/01/ 2007 underneath the quantity GP-07000006. Non-contractual doc supposed solely for journalists and media professionals. The knowledge is offered for the only real objective of enabling them to have an outline of the transactions, regardless of the use they make of it, which is solely a matter of their editorial independence, for which Tikehau Capital declines all duty. This doc doesn’t represent a proposal to promote securities or funding advisory companies. This doc accommodates solely normal data and isn’t supposed to characterize normal or particular funding recommendation. Previous efficiency just isn’t a dependable indicator of future outcomes and targets will not be assured. Sure statements and forecasted knowledge are primarily based on present forecasts, prevailing market and financial situations, estimates, projections and opinions of Tikehau Capital and/or its associates. Owing to numerous dangers and uncertainties precise outcomes might differ materially from these mirrored or anticipated in such forward-looking statements or in any of the case research or forecasts. Tikehau Capital accepts no legal responsibility, direct or oblique, arising from the knowledge contained on this doc. Tikehau Capital shall not be accountable for any resolution taken on the idea of any data contained on this doc. All references to Tikehau Capital’s advisory actions within the US or with respect to US individuals relate to Tikehau Capital North America.
