Sesame it raises €10 million

In just a year since it launched its Jizô Network Detection & Response (NDR) solution, French cybersecurity company Sesame it has achieved profitability and plans to accelerate European development thanks to a €10 million fundraising. Sesame it, one of just four French NDR tools to be accredited by the French National Agency for IT Systems Security (ANSSI) has attracted interest from investors committed to the promotion of digital sovereignty, including Banque Postale’s 115k fund and Banque des Territoires, as well as historical investors BNP and Astorya VC.

A high bar for cybersecurity qualification

The 2013 French Military Planning Law set a high bar for cybersecurity for organisations identified by the State as Critical National Infrastructure (CNI) organisations (Opérateurs d'Importance Vitale). This level of cybersecurity requires robust Network Detection & Response (NDR) tools that constantly analyse network flows.

To be approved for use by French CNIs, NDRs must be qualified by the French National Agency for IT Systems Security (ANSSI). Qualification attests to the solution’s compliance with the ANSSI’s strict regulatory, technical, security and privacy standards. To date, Sesame it’s Jizô is one of just four NDRs to have won this qualification.

"Analysis of network flows is key to any cyber defence strategy, whether it’s critical infrastructure or not,” said Sesame it founder and CEO Audrey Amédro. “Network traffic and flow records are unfalsifiable, rich and complete. They give a complete vision of IT systems, and therefore the ability to spot any malicious activity. Jizô’s network flow analysis allows for threats to be anticipated, making it one of the most effective tools for detecting cyber-malware, and an essential part of any good cybersecurity strategy."

Turnover of €10 million in 2022

While Sesame it's Jizô NDR solution is recommended and qualified by ANSSI to protect CNIs, it can protect any organisation, public or private. Sesame it already counts a dozen major clients in public and private spheres, and reported a turnover of more than 10 million euros in 2022.

"We were immediately convinced by the quality and innovation of Sesame it’s detection and analysis technology, one of the few NDR to be qualified by the ANSSI,” said Caisse de Dépôts Investment Director François Charbonnier. “It’s a testament to how well Sesame it has done commercially, putting this product on the market so quickly and successfully. This is an offer that responds fully to the real and growing cyber threats faced by public and private organisations."

3 strategic areas of investment

The funds will be used in three areas. First, commercial development in Europe, where the EU’s expanded Network and Information Security Directive (NIS2) which comes into force in 2024, will require organisations and companies of all sizes to implement robust cyber protection measures against the growing number of threats. With ANSSI qualification, and recognition of the quality of its “Made in Europe” solution, Sesame it is well positioned to expand in Europe.

The second objective is to strengthen Sesame it’s talent base to support customers and partners.

The third is to remain at the cutting edge of technology in a context of increasingly innovative threats, building on Sesame it’s deep learning analysis capabilities.

"By investing in Sesame it we are supporting the development of cutting-edge technology that protect large companies and CNIs in France and in Europe, and particularly for financial institutions,” said La Poste Groupe’s Deputy Managing Director Olivier Lévy-Barouch. “This investment is fully in line with the strategy of our 115k fund, responding to the challenge of digital sovereignty which is is a key conviction of La Banque Postale and the La Poste Group.”

In addition to its ANSSI qualification, Sesame it’s Jizô NDR has two major commercial advantages: transparency and ease of use.

Once installed, the NDR allows companies to track and detect any attack or intrusion on the network. This is done via a series of detection engines driven by powerful Machine Learning algorithms that detect any abnormal behaviour and alert managers in real time. Managers can then react quickly, making the right decisions based on concrete information.

Sesame it’s team of six analysts, covering 50 countries and speaking nine languages, transform the intelligence on new and emerging threats vulnerabilities into ready-to-use detection sets for the NDR. Once these threats have been identified, they can be deployed as detection scenarios on any network withing 24 hours.

"Step by step, from solid foundations, Sesame it has built an exceptional technological platform and passed the milestones from ANSSI qualification to large-scale marketing, becoming one of the most promising young companies in cybersecurity,” said Nicolas Tymen of BNP Paribas Développement. “We are proud to have supported Sesame it since 2020, and on this new round of financing alongside a pool of qualified investors.”

Throughout the fundraising operation, Sesame it was supported by the Ryder and Davis investment bank.