ProvenRun raises €15 million led by Tikehau Capital for IoT and automotive cybersecurity

ProvenRun has announced a fundraising round of €15 million, a significant investment being led by Tikehau Capital, a global alternative asset manager. Tikehau Capital is investing through its new vintage of Brienne, a private equity cybersecurity strategy in collaboration with the French Ministry of Defence’s Definvest fund, which is managed by Bpifrance.

Established by serial entrepreneur Dominique Bolignano, ProvenRun offers an operating system (OS) and apps for connected vehicles and smart devices. Their product, ProvenCore, attained the certification level EAL7 on Common Criteria. Through a mathematically verified method, it aims 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 good quality cybersecurity, develop and certify applications faster, get ahead of future regulatory requirements, and 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 formulas tackle the challenges arising from the rapid growth of the Internet of Things (IoT), building on a Trusted Execution Environment and aiming to achieve the highest available protection against remote cyber threats.

Tikehau Capital’s investment is made through its private equity cybersecurity strategy, which currently stands as one of the largest private equity vehicles dedicated to digital security in Europe. The fourth vintage of this strategy recently completed its first close at €200 million. Tikehau Capital is committed to investing in technology, fortifying digital security on a broader scale, and supporting companies in delivering solutions within the cybersecurity industry.

“Since entering the cybersecurity sector as investors, Tikehau Capital has unwaveringly embraced the ‘secure-by-design’ philosophy,” declared Gilles Daguet, a head of Tikehau Capital’s private equity cybersecurity strategy. “The solutions crafted by ProvenRun stand as an outstanding example of fortifying the foundations of embedded software for critical architecture. We have full confidence in ProvenRun’s commercial potential and its dynamic leaders, Dominique Bolignano and Thierry Chesnais.”

“ProvenRun’s ambition is to raise the standards of cybersecurity and build trust in the Internet of Things,” declared Dominique Bolignano, ProvenRun founder and chairman. “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.”

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