Citalid, a France-based cyber risks management and decision support platform, raised €12 million in Series A funding.
The round was led by Seventure Partners, with participation from Relyens, Albingia, Fiblac, and historical investors Axeleo Capital and BNP Paribas Development.
Citalid intends to use its latest funding to increase investments in its commercial strike force, strengthen R&D, and expand internationally, particularly in Germany and England. It will also develop partnerships with distributors and resellers in France and worldwide.
"We have a unique position in the market as a trusted third party between an insured and their insurer," explains Maxime Cartan, co-founder, and CEO of Citalid. "We calibrate our solution according to the business aspect of the customer, their margin rate, their geographical deployment, and their competitive state to assess the frequency with which the company can be targeted by a cyberattack," "With the audit, we collect information on the company's existing cyber situation and automate the analysis based on risk scenarios according to the company's sectors."
Available in SaaS, this solution allows companies to assess their exposure to cyber risks, prioritize their defense and insurance strategies, and simulate their associated returns on investments.
Company: Citalid Cybersécurité SAS
Round: Series A
Funding Month: October 2022
Lead Investors: Seventure Partners
Additional Investors: Relyens, Albingia, Fiblac, and historical investors Axeleo Capital and BNP Paribas Development
Company Website: https://citalid.com/
Software Category: Cyber Risks Management and Decision support platform
About the Company: Founded in 2017 by two complementary "Cyber Threat Intelligence" specialists from ANSSI, Maxime Cartan and Alexandre Dieulangard, Citalid is a tech startup that developed a cyber risks management and decision support platform dedicated to CISOs and risk managers. Citalid's underlying technology provides its clients with a calibrated analysis, simulation, and pricing of cyber risks, thanks to its ability to cross-reference technical, contextual (geopolitics, economics, etc.), and financial data. The tool can automatically simulate the ROI of security investments and actively push recommendations based on efficiency and profitability. It has been awarded two of the most important innovation prizes in the cybersecurity field in France: the audience and the jury prices at the Assises de la Sécurité 2018.