Vade, an international threat detection and response platform that claims to monitor one billion email messages across the world, has scored €28m ($30m) in funding.
The round was backed by Tikehau Ace Capital, the French government, through French Tech Souveraineté, and Auriga Partners.
This capital injection will help Vade bolster its international expansion efforts and support the enhancement of its products. It also plans to develop MSSP-tailored solutions with simple, rapid installation and high efficiency.
The CyberTech company develops threat detection and response technology powered by AI. Its products help protect consumers and businesses from email-based cyberattacks, including malware/ransomware, spear phishing/business email compromise, and phishing.
Vade’s flagship product is Vade for M365, an email security product purposely built for MSPs.
Founded in 2009, the company protects over one billion corporate and consumer mailboxes and serves the ISP, SMB, and MSP markets
A recent report from Market Research Future projects the email security market will be worth $6.8bn by 2025.
The company’s team nears 200 people, and plans are to hire an additional 80 people by the end of the year.
Speaking on the funding, Tikehau Ace Capital executive director Francois Lavaste said, “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.
“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.”
Vade previously raised €70m in a venture funding round from General Catalyst in 2019.
Earlier in the month, Abnormal reached an impressive $4bn valuation, following the close of its Series C. The company offers cloud-native email security that is powered by AI and behavioural data science to prevent socially engineered attacks.
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