As part of the international expansion of its solutions, ProvenRun is announcing a fundraising round of nearly €15 million.
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Deeptech company ProvenRun is a leading player in the cybersecurity and connected-device protection market. As part of the international development of its solutions, the company is announcing a fundraising round of nearly €15 million from Tikehau Capital, in collaboration with the French Ministry of Defense’s Definvest fund, managed by Bpifrance. Joffe & Associés (Thomas Saltiel, Camille Malbezin and Mathilde Vasseur) advised the investors on the transaction.
The funding will be used to accelerate the roadmap for ProvenRun‘s services, notably automotive security applications and RISC-V architectures, as well as its geographic expansion, particularly to the United States and Germany. Thanks to this significant fundraising, ProvenRun is now solidly positioned to play a leading role in the evolution of cybersecurity, particularly within complex embedded systems.
This milestone marks a significant turning point, not only for the company itself but also for the cybersecurity sector as a whole, foreshadowing notable progress in security and trust in the connected world. Revenue of €10 million is expected this year.
“The market for operating systems (OS) for IoT is still under construction and could eventually reach several billion dollars. The main sectors we are targeting are automotive microprocessors, with a hundred million cars produced each year, and also microcontrollers, which represent a production volume of 15 billion units per year,” explains Thierry Chesnais, CEO of ProvenRun.
The company, launched in 2009 by Dominique Bolignano, specializes in providing a secure operating system (OS) and applications for connected vehicles and smart devices. Its main product aims to give car manufacturers and IoT device makers the ability to achieve a high level of cybersecurity while accelerating the development and certification of applications. ProvenRun focuses its development on the aerospace, automotive, microcontroller and defense sectors.
- Acquirer or investor: TIKEHAU IM , Gilles Daguet , BPIFRANCE INVESTISSEMENT , Stéphane Lefèvre-Sauli
- Corporate legal adviser: LEV & CO , Léa Evrard
- Acquirer’s corporate legal adviser: JOFFE & ASSOCIES , Thomas Saltiel , Camille Malbezin , Mathilde Vasseur
- Financial due diligence for the acquirer: EXELMANS , Manuel Manas , Maxime Grélou
