Cybersecurity Startup Hackuity Emerges Out of Stealth with a €12M Funding

Hackuity, a cybersecurity business that prevents cyberattacks, has emerged from stealth with a €12 million fundraising round headed by Sonae IM, with prior investor Caisse des Dépôts renewing its faith. Hackuity was founded by Orange Cyberdefense veterans and lifetime friends Patrick Ragaru and Pierre Polette to help cybersecurity teams and leaders gather, prioritize, and remedy security flaws before they are exploited by their attackers.

Hackuity reinvents vulnerability management by consolidating and standardizing all of its clients’ third-party exposure data into a single pane of glass and analytical engine. Hackuity’s clients may get a clear picture of their security posture by breaking through technology silos.

Hackuity would also revolutionize remediation, prioritization, and orchestration by working holistically across all IT dimensions of its clients, from infrastructure, even if in the cloud or as code, through the development lifecycle and application level, using powerful analytics and machine learning.

“Vulnerability management, a foundational security practice, has become progressively less relevant over the years and too many organizations made the headlines because of cyber-attacks that could and should have been prevented,” said Patrick Ragaru, CEO and co-founder of Hackuity. “We’re on a quest to revolutionize this practice and to allow enterprises to quantify and improve their security objectively. Organizations, large and small, wherever they are, should be able to run their business with peace of mind, knowing that their security posture is rock solid and can serenely sustain the incessant waves of cyber-attacks our world is plagued with.”

‘Battle-Tested Technology’

Photo Patrick Ragaru, CEO and co-founder of Hackuity
“Vulnerability management, a foundational security practice, has become progressively less relevant over the years and too many organizations made the headlines because of cyber-attacks that could and should have been prevented,” said Patrick Ragaru, CEO and co-founder of Hackuity.

“Today’s IT infrastructures, in the cloud or elsewhere, are enormous collections of structured and unstructured data that customers cannot hope to comprehend entirely. Security professionals just can’t keep up with the countless vulnerabilities, of all natures, that puncture the digital fabric of their organizations,” said Carlos Moreira da Silva, Partner at Sonae IM. “To them, Hackuity is a game-changing security platform. It completely abstracts data sources and provides security teams with the normalized and digestible vulnerability intelligence they’ve been waiting for to prioritize their remediation efforts. We’re thrilled to partner with Patrick and the team to bring this innovation to as many practitioners as possible and improve our society’s cyber resilience.”

“We are proud to provide Hackuity with our ongoing support. Since our first investment in 2021, the team made considerable leaps forward toward achieving their vision of fixing the underlying issues that allow cyberattacks to happen,” said Antoine Troesch, Head of Investments at Caisse des Dépôts. “With a battle-tested technology and a proven product-market fit, Hackuity is more than ready to take on its next challenges and to protect both public and private entities.”

This investment comes on the heels of the recent hire of cybersecurity veteran Pierre Samson, former SVP APAC at Alcatel-Lucent, as Chief Revenue Officer, and reflects the tremendous momentum Hackuity has built behind its technology in the second half of 2021 and early 2022.

Hackuity has gained dozens of customers since its inception, some of which are among the world’s most targeted and demanding businesses, while also expanding globally, with operations in Paris and Singapore.

Hackuity’s primary strategy is expected to be accelerated in 2022 and 2023, with an already-established market area and demonstrated product-market fit, including:

  • Enhance its worldwide go-to-market development in all key countries, building on its achievements in Europe and Asia
  • Rebuild its world-class engineering staff, focusing on diversity and inclusion
  • Maintain rapid development cycles and continue to be a market leader in terms of innovation and innovative thinking
  • Continue to establish a worldwide customer experience practice that is a leader in the industry, as well as its buyer and user communities