Filigran raises €15M in Series A funding, set to expand to the United States and Australia
Just 6 months after our initial €5M Seed round, we are delighted to announce that we have closed a €15 million Series A led by global venture capital firm Accel with the participation of our initial investors Moonfire Ventures and Motier Ventures. This is an immense recognition of the daily work accomplished by the entire Filigran team who develop our open-source “eXtended Threat Management” suite for the thousands of organizations that use it every day to safeguard their systems and personnel against cyber threats.
Since the beginning of our journey in October 2022, we have never spared our efforts to help both private and public organizations unlock threat intelligence driven approach and fully realize its benefits, enabling them to better prioritize alerts, investigate threats and optimize their existing cybersecurity stack. It is essential to point out that Filigran’s success is also largely due to all our customers and communities who have committed themselves to us, and we thank them most sincerely for their daily renewed trust.
The journey so far
We were two fearless founders 18 months ago ready to take on the challenge. Today, we count on a dedicated and talented team of over 40 incredible individuals who share our values of inclusivity and sharing. We have numerous reasons to be proud of the strengths, skills, and dedication of each team member, regardless of their position. They contribute day after day to building and spreading the best possible open-source cybersecurity products, guided by an ambitious and coherent roadmap.
This second round of financing demonstrates the success of our open approach to cyber threat management and anticipation, but above all the clarity of our vision for building a portfolio definitively centered around the value of cyber threat intelligence. This knowledge will fuel immediate attack simulation, risk analysis, and incident response capabilities, while also being enriched by any relevant information gathered from the other Filigran XTM solutions.
Since day one, we’ve taken every step to launch a global business, focusing on the value of our technologies, interacting with our communities on 5 continents. By transcending local limitations and weaving a wide network of quality partners, we’ve been able to enhance thousands of organizations’ ability to exploit the value of our products and get most of the new features added by our engineering team at a steady pace.
Why now and for what?
While the first round of financing was intended to initiate an 18-month acceleration phase, enabling us to execute more rapidly our medium-term vision for the product development and team expansion, this Series A round takes our company into a new dimension. Firstly, it will enable us to expand internationally by creating new subsidiaries in the United States and Australia. This expansion will focus on securing new strategic partnerships, accelerating the adoption of Filigran’s solutions by organizations in North America and Asia-Pacific, and providing local customer support.
Secondly, we will continue to develop and grow our XTM portfolio:
- An even greater investment in OpenCTI, to give concrete form to our “threat-intelligence driven” ecosystem approach, which brings significant operational and strategic value to the organizations that adopt it.
- The transformation of OpenEx into OpenBAS (Breach and Attack Simulation), set to enable much more regular planning and execution of both technical and non-technical simulations that highlight a company’s security gaps in the face of a specific, real-world threat.
- The launch of a third product, OpenERM, that will draw on both OpenCTI and OpenBAS information to build a revolutionary approach to cyber risk analysis boosted by real-time data and automation.
Finally, we will bootstrap and rapidly expand cross-functional data science and artificial intelligence. Their mission will be to turn use cases into reality across the entire portfolio, helping our product teams to build better open-source software and enabling our customers to extract even more value from the data residing in their XTM suite.
What’s next?
We sincerely believe that, above and beyond our strategy and product vision, it is above all the strength of our communities and our special relationship with each of the involved organizations that will take our company to the next stage of its development. With this in mind, we will invest heavily in our open source products to ensure that each and every one of them can successfully meet the challenges our communities face in protecting their assets.
We aim to deepen our connections with customers and partners, with plans to rapidly expand our subsidiaries in Europe and North America in the medium term. This proximity should also enable us to further develop our technological alliances, which have proven invaluable in a field marked by the need for interoperability and advanced integration with other cybersecurity solutions.
We’ve achieved a lot since our launch, yet there are still numerous milestones to achieve in the coming months to realize our vision and share the value we can bring to the cybersecurity community. To help us, we are looking for people willing to make a huge difference by thwarting cyber-threats and building outstanding pieces of software. If you are interested, explore opportunities on our hiring platform at Welcome to the jungle.
Thank you to everyone who has supported us on the way, we can’t wait to continue this journey with you!
