Paris, 6th December 2023 – ProvenRun announced €15 million fundraising round. 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 Leagues Definvest fund, managed by Bpifrance.
Established by serial entrepreneur Dominique Bolignano, ProvenRun offers the world’s most secure operating system (OS) and apps for connected vehicles and smart devices. Their standout product, ProvenCore, is the only OS to attain the highest certification level (EAL7) on Common Criteria. It is also the leading global standard in computer security. Through a rigorous, mathematically verified method, it’s assured to be close to error-free, even in its machine code.
ProvenCore provides security-by-design for the long term, rather than reacting to and firefighting threats. Carmakers and IoT device builders can attain best-in-class cybersecurity, develop and certify applications faster. Moreover, they get ahead of future regulatory requirements and dramatically reduce their lifecycle maintenance costs.
ProvenRun’s cutting-edge technology focuses on critical industries, with a particular emphasis on the aerospace and defence, automotive and semiconductor sectors. Its secure-by-design software solutions effectively tackle the challenges arising from the rapid growth of the Internet of Things (IoT), building on its best in-class Trusted Execution Environment. It also achieved the highest available protection against remote cyber threats. ProvenRun has emerged as a pivotal partner in embedding software security in software-defined vehicles for carmakers and tier 1 suppliers. They also play a crucial role in microcontrollers for chipmakers like STMicroelectronics.
The Series A funding will help accelerate ProvenRun’s product roadmap, focusing on automotive security applications and Risc-V architectures. Additionally, it will support the company’s geographic expansion into North America.
Tikehau Capital’s investment is made through its private equity cybersecurity strategy. Currently, it stands as one of the largest private equity vehicles dedicated to digital security in Europe. Furthermore, the fourth vintage of this strategy recently completed its first close at €200 million. 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.
“Since entering the cybersecurity sector as investors, Tikehau Capital has unwaveringly embraced the “secure-by-design” philosophy. The solutions crafted by ProvenRun stand as an outstanding example of fortifying the foundations of embedded software for critical architecture. Moreover, we have full confidence in ProvenRun’s commercial potential and its dynamic leaders, Dominique Bolignano and Thierry Chesnais,” declared Gilles Daguet, Head of Tikehau Capital’s Private Equity Cybersecurity Strategy.
“ProvenRun’s ambition is to raise the standards of cybersecurity and build trust in the Internet of Things. Remote cyber threats are rising and our formally proven OS provides the best line of defence. Tikehau Capital’s investment will help us accelerate our development roadmap and international growth,” declared Dominique Bolignano, ProvenRun Founder and Chairman.
IGA Alexandre Lahousse, Head of the Industrial Affairs and IE Department (DGA): “Securing complex embedded systems is at the very core of the Ministry of Defence’s digitisation strategy. Provenrun is a pioneer in this field, with state-of-the-art technology for both civilian and military applications. Moreover, it will now be able to take on a new dimension in the cybersecurity sector, making an active contribution to the cybersecurity of connected systems.”
“After financing its R&D stage with grants, Bpifrance is proud to continue to support this breakthrough technology in this new stage of its development. Targeting the cybersecurity market for embedded and critical architecture with a best-in-class secure OS, ProvenRun fully addresses sovereignty and national defense issues, in line with Definvest’s investment strategy” declared Stephane Lefevre Sauli, Senior Investment Director of Bpifrance.
