This investment is led by Tikehau Capital, the global alternative asset manager, through its new vintage of Brienne, its flagship private equity cybersecurity strategy with the French Ministry of Defence's Definvest fund, managed by Bpifrance.
Established by serial entrepreneur Dominique Bolignano, ProvenRun offers the world's most secure operating system and apps for connected vehicles and smart devices.
ProvenRun has emerged as a pivotal partner in embedding software security in software-defined vehicles for carmakers and tier 1 suppliers, and in microcontrollers for chipmakers like STMicroelectronics.
The Series A funding will help accelerate ProvenRun's product roadmap and its geographic expansion into North America.
Tikehau Capital's investment is made through its private equity cybersecurity strategy, which currently stands as one of the largest private equity vehicles dedicated to digital security in Europe.
Tikehau Capital is committed to investing in pioneering technology, fortifying digital security on a broader scale and supporting companies in delivering state-of-the-art solutions within the cybersecurity industry.
The solutions crafted by ProvenRun stand as an outstanding example of fortifying the foundations of embedded software for critical architecture.
With their secure-by-design solutions, ProvenRun resolves the security challenges arising from the IoT revolution while dramatically improving the protection against remote cyberattacks.
Tikehau Capital is a global alternative asset management group with €42.0 billion of assets under management.
Tikehau Capital has developed a wide range of expertise across four asset classes as well as multi-asset and special opportunities strategies.
Tikehau Capital is a founder led team with a differentiated business model, a strong balance sheet, proprietary global deal flow and a track record of backing high quality companies and executives.
Deeply rooted in the real economy, Tikehau Capital provides bespoke and innovative alternative financing solutions to companies it invests in and seeks to create long-term value for its investors, while generating positive impacts on society.
Leveraging its strong equity base, the firm invests its own capital alongside its investor-clients within each of its strategies.
Controlled by its managers alongside leading institutional partners, Tikehau Capital is guided by a strong entrepreneurial spirit and DNA, shared by its 757 employees across its 15 offices in Europe, the Middle East, Asia and North America.
Tikehau Capital is listed in compartment A of the regulated Euronext Paris market.
The strategy mentioned in this press release is reserved for professional investors and is managed by Tikehau Investment Management SAS, a portfolio management company approved by the AMF since 19/01/ 2007 under the number GP-07000006.
The information is provided for the sole purpose of enabling them to have an overview of the transactions, whatever the use they make of it, which is exclusively a matter of their editorial independence, for which Tikehau Capital declines all responsibility.
Certain statements and forecasted data are based on current forecasts, prevailing market and economic conditions, estimates, projections and opinions of Tikehau Capital and/or its affiliates.
Tikehau Capital accepts no liability, direct or indirect, arising from the information contained in this document.
All references to Tikehau Capital's advisory activities in the US or with respect to US persons relate to Tikehau Capital North America.
This Cyber News was published on www.darkreading.com. Publication date: Thu, 07 Dec 2023 23:11:05 +0000