OverSOC, the cyber risk mapping expert, finalizes a €3.8 million Seed round with new reference investors CyberK1 and Auriga Cyber Ventures, and their historical investors Alacrité France and Finovam Gestion.
The funds raised will enable the company to invest further in R&D, double its workforce, and diversify its marketing channels in France and Europe.
A remarkable career in the French cyber ecosystem
Since its creation in 2020, OverSOC has rapidly established itself within the French Cyber ecosystem. Its 3D Cyber data management and visualization solution aggregates nearly thirty tools to provide an exhaustive overview of the attack surface of information systems, making risk prevention and crisis management easier, thanks to its graphic interface inspired by the world of video games.
Designed to reconcile IS professions and cyber expertise, the OverSOC "cockpit" has won over a clientele of private and public organizations alike, and stands out for its exhaustive, synthetic vision of the assets (machines, users, applications) that make up their information systems, their activities, and the risk perimeter of their organizations. The objective? To drive ever more effective security plans.
Building on its expertise, the start-up recently joined Thales' @StationF Cyber acceleration program, after winning a joint call for projects from Agence Innovation Défense (AID) and Commandement de la Cyberdéfense (COMCYBER) last November. A member of the French Ministry of the Armed Forces' technology acceleration program - Cyberdéfense Factory - since 2023, OverSOC is based at the heart of the Campus Cyber Hauts-de-France Lille Métropole and actively contributes to the Pôle d'Excellence Cyber (PEC), the Systematic competitiveness cluster, as well as Hexatrust.
" Thales is proud to be working with the talented teams at OverSOC, a cybersecurity nugget that has come up with unprecedented, high value-added capabilities for mapping a company's attack surface. Thales is already working with OverSOC on upstream projects in France and on major international tenders.
Lionel SALMON, Director of Cybersecurity and Information Systems, THALES
This successful integration into the French cyber ecosystem, combined with the recognition of industry experts, is a decisive factor in the success of this round of financing.
"Auriga Cyber Ventures wants to be among the first to move on the subject of Cybersecurity Asset Attack Surface Management in Europe. OverSOC offers a unique solution to address this issue, and we think it's the right one.
WilliamLecat, Investment Director, Auriga Cyber Ventures
"We are convinced by the relevance of OverSOC technology, and are particularly confident in the teams we are supporting in their ambition to become the European leader in cyber mapping."
StéphaneKLECHA, President of CyberK1
A strong ambition to simplify cyber risk management and control
At a time when the volume of cyber attacks has increased 4-fold since the start of the health crisis, the need for an agile management tool capable of maximizing risk visibility has never been greater.
According to the CESIN (Club des Experts de la Sécurité de l'Information et du Numérique) 2023 Barometer, almost half of all companies suffered at least one cyber attack in 2022. SOC detection capabilities are among the most important solutions. 61% of companies surveyed in the same barometer intend to step up their investment in this area.
However, only 1% of companies and institutions currently use Cybersecurity Asset Attack Surface Management (CAASM) technologies, a market that could grow 20-fold by 2026.
Gartner estimates that only "20% of companies will have more than 95% visibility of all their assets".
Faced with a shortage of talent, and in a context where 50% of cyber experts' time is spent on data manipulation and reporting (Forrester), the OverSOC solution provides a concrete, agile response to organizations that can now mobilize their teams to focus on their core mission, and design the most efficient security plans.
"The growth potential of CAASM is exponential, and we intend to play our full part. Given the diversification and intensification of cyber risk, it is inconceivable today that organizations do not instantly have a cartographic vision of their assets, commensurate with the criticality of the risk incurred. By continuing to enrich the OverSOC cockpit, strengthening our teams, and making our solution available to leading experts, we are convinced that our technology will provide an essential building block to the European cyber ecosystem."
ThéoPlantier, CEO of OverSOC
OverSOC, which currently employs around twenty people, aims to double its workforce by recruiting experts in cybersecurity and software ergonomics. This reinforcement will also enable the company to diversify its sales channels by expanding its network of expert resellers, aiming to achieve sales of 1 million euros by 2024.
" We are proud to have contributed to the birth of OverSoc and its excellent team. And to see our young company take off alongside quality investors in this new phase of its development ".
DavidDESCHEEMAEKER, Director of Operations, Alacrité France
" Finovam Gestion, through its investment fund FIRA, is proud to renew its confidence in the OverSOC team and to support it again in this round, enabling it to successfully develop the company in the fast-growing cybertech segment, and more specifically in Cybersecurity Asset Attack Surface Management. "
AnthonyDaccache, Investment Director, Finovam Gestion
About OverSOC
OverSOC is the French Cybersecurity Asset Attack Surface Management (CAASM) solution for mapping the IT attack surface, i.e. all the weak points of an IT system: discovery of hidden assets, risks and compliance of the information system. OverSOC saves precious time by prioritizing vulnerabilities and maximizing operational resources. The objective? Automate data processing, so that teams can concentrate on the essentials.
OverSOC was initiated in 2020 in the Hauts-de-France region by Alacrité France and Finovam Gestion. The company is part of the Campus Cyber Hauts-de-France Lille Métropole. The team currently has 21 employees.
About Auriga Cyber Ventures
Auriga Cyber Ventures, with a capital of over €50 million, provides seed capital to support European cybersecurity startups in their market access phase in France and abroad.
About CyberK1
CyberK1 is the investment vehicle of Klecha & Co, a pan-European investment bank specializing in software publishers and ESNs.
About Finovam Gestion
As an AMF-approved asset management company, FINOVAM GESTION supports entrepreneurs from the early stages of their projects, through to the later stages of development, in five key sectors: Digital, Healthcare, Bioeconomy, Energy Transition and Industry of the Future.
With recognized experience in venture capital, the management team is spread over four sites (Lille, Amiens, Metz and Dijon) and puts its expertise and network at the service of innovative companies in the three regions of Hauts-de-France, Grand Est and Bourgogne-Franche-Comté. FINOVAM GESTION manages four investment funds with a total of €102 million under management and a portfolio of 50 innovative companies.
About Alacrité
Located in Lille, in the heart of Europe, Alacrité is a start-up generator and member of the start-up studio family. Alacrité's mission is to generate innovative start-ups from proven market needs identified by its industrial partners. These needs are entrusted to new entrepreneurs recruited and assembled into teams by Alacrité.
These teams benefit from ongoing coaching, strong long-term financial support and global market access via the Alacrity network founded by serial entrepreneur SirTerry Matthews. To date, Alacrity holds stakes in 11 start-ups, including OverSOC.
