Vade Lands $30 Million in New Funding Round
May 31, 2022—
4 min read
Latest investment from Tikehau Ace Capital, Bpifrance and Auriga Partners will propel a new chapter of company growth.
San Francisco, Calif. May 31– Vade, an international pioneer in threat detection and response that already monitors one billion email mailboxes worldwide, has announced that it has raised €28 million (~$30 million) from Tikehau Ace Capital, the French government, through French Tech Souveraineté, which is part of France 2030, led by the General Secretariat for Investment and operated by Bpifrance, and Auriga Partners. The company intends to proceed with a new, more substantial round of financing in the coming months.
"We invested in Vade because we believe that Managed Service Providers (MSPs) and Managed Security Service Providers (MSSPs) need to have technology that can easily and effectively neutralize the latest threats," said Francois Lavaste, Executive Director at Tikehau Ace Capital. "We welcome the sustained pace at which Vade continues to grow and have full confidence in Georges Lotigier and his team. We are confident in their ability to meet and exceed their clients' expectations.”
The latest round of funding will further accelerate Vade’s international expansion and provide additional investment to enhance its already industry leading cybersecurity products for Internet Service Providers (ISPs), MSPs and small and medium businesses. The company also plans to put increased emphasis on developing MSSP-tailored solutions with simple, rapid installation and high efficiency.
“Demand for our products, especially in the MSP market, has been overwhelming. This latest round of funding will help us quickly onboard more channel partners in key markets like North America and Europe,” said Maya Gershon, Chief Revenue Officer at Vade.
Between remote work prompted by COVID and the conflict between Russia and Ukraine, the new investment arrives in the midst of increased stakes for business communications that need to stay secure both internally and externally. In fact, a report by Market Research Future (MRFR) projects that the email security market will be worth $6.8 billion by 2025.
Vade has become a global cybersecurity SaaS leader, recognized by G2 as a leader in email security and cloud email security. The company has experienced over 100% growth in its flagship product, Vade for M365, an email security product that is purpose built for MSPs. The company has also grown to almost 200 employees and anticipates growing its staffing by another 80 employees by the end of this calendar year.
“Vade has experienced tremendous growth and with remote work becoming commonplace, even after the pandemic, cybersecurity is at the top of most companies’ priority list,” said Georges Lotigier, CEO of Vade. “We have built a highly profitable company in a competitive market, largely due to our constant innovation and anticipating the unexpected. This latest funding round will help us realize our ambitious plans to significantly grow in markets like North America and Asia.”
"The fight against cyber threats is a strong strategic challenge that Vade has mastered. This operation must now allow to accelerate the protection of companies and citizens, increasingly targeted in the current context. This is why Bpifrance supports this operation", adds Emmanuel Audouard from Bpifrance.
"We were attracted by the extreme quality of the team, which has been able to implement a strategy over the past few years that has enabled it to deploy a highly effective business model combining strong growth and profitability. We are convinced that Vade has all the fundamentals to become a world-class player," said Jacques Chatain, CEO at Auriga Partners.
Vade is a global cybersecurity company specializing in the development of threat detection and response technology with artificial intelligence. Vade’s products and solutions protect consumers, businesses, and organizations from email-borne cyberattacks, including malware/ransomware, spear phishing/business email compromise, and phishing.
Founded in 2009, Vade protects more than 1 billion corporate and consumer mailboxes and serves the ISP, SMB, and MSP markets with award-winning products and solutions that help increase cybersecurity and maximize IT efficiency.
To learn more, please visit www.vadesecure.com and follow us on Twitter @vadesecure or LinkedIn https://www.linkedin.com/company/vade-secure/.
About Auriga Partners
Auriga Partners is a pioneer of venture capital in France and a specialist in early stage investment in IT and Life Sciences. Since 1998, Auriga Partners has made nearly 120 investments and currently manages over €400 million.
More recently, the management company has embarked on a multi-specialist investment strategy aimed at bringing together expertise in high value-added areas such as cyber with Cyber Impact Ventures and healthcare through Biotech Promise.
About France 2030
The France 2030 investment plan :
- Translates a dual ambition: to sustainably transform key sectors of our economy (energy, automotive, aeronautics and space) through technological innovation, and to position France not just as a player, but as a leader in tomorrow's world. From basic research, to the emergence of an idea, to the production of a new product or service, France 2030 supports the entire life cycle of innovation up to its industrialization.
- Is unprecedented in its scope: 54 billion euros will be invested so that our companies, universities and research organizations can successfully make the transition in these strategic sectors. The challenge is to enable them to respond competitively to the ecological and attractiveness challenges of the coming world, and to create the future champions of our sectors of excellence. France 2030 is defined by two cross-cutting objectives: to devote 50% of its spending to decarbonizing the economy, and 50% to emerging, innovative players, without spending that is unfavorable to the environment (in line with the Do No Significant Harm principle).
- Will be implemented collectively: designed and deployed in consultation with economic, academic, local and European players to determine the strategic directions and key actions. Project leaders are invited to submit their applications via open, demanding and selective procedures in order to benefit from the State's support.
- Is steered by the General Secretariat for Investment on behalf of the Prime Minister and implemented by the Agency for Ecological Transition (ADEME), the National Research Agency (ANR), the Public Investment Bank (Bpifrance) and the Caisse des Dépôts et Consignations (CDC).
Bpifrance's equity investments are made through Bpifrance Investissement. Bpifrance finances companies - at every stage of their development - with loans, guarantees and equity. Bpifrance supports them in their innovation and international projects. Bpifrance also ensures their export activity through a wide range of products. Consulting, university, networking and
Acceleration programs for startups, SMEs and ETIs are also part of the offer to entrepreneurs. Thanks to Bpifrance and its 50 regional offices, entrepreneurs benefit from a close, single and efficient contact to help them face their challenges.
Follow us on Twitter : @Bpifrance - @BpifrancePresse
About Tikehau Ace Capital
Tikehau Ace Capital is a private equity firm specialised in strategic industries and technologies, with €1.3 billion in assets under management. Founded in 2000, Tikehau Ace invests with a vertical approach in strategic industries (e.g. Aerospace, Defense and technologies (e.g. Cybersecurity)). Tikehau Ace Capital has built its model on strategic partnerships with large corporates (including Airbus, Safran, Dassault Aviation, Thales, EDF, Naval Group, and Sopra Steria), which invest in its funds and maintain an ongoing dialogue with the firm, enabling Tikehau Ace Capital to take a differentiated approach to investing.
Tikehau Ace is present in Paris,Toulouse and Madrid, and benefits from the worldwide presence of Tikehau Capital.
Merritt Group for Vade:
Nathalie Police - Nathalie.firstname.lastname@example.org - + 33 1 41 79 95 26
France 2030 and SGPI:
Marion Dos Reis Silva : email@example.com +33 1 42 75 64 58
Tikehau Ace Capital:
- Audrey Hood – firstname.lastname@example.org – +33 1 73 313 010
- Image 7: Florence Coupry email@example.com / Juliette Mouraret firstname.lastname@example.org – +33 1 53 70 74 70 / Charlotte Le Barbier email@example.com – +33 6 78 37 27 60