TrustInSoft raises €5M to push into the self-driving car and IoT markets

Through its Brienne III cybersecurity fund –first of it’s kind in France– ACE Management leads this round followed by TrustInSoft’s longstanding shareholders, Idinvest Partners and business angels.

Paris, 4 November 2019 – TrustInSoft, a cybersecurity software publisher whose technology provides software code reliability and security, based on mathematical proof, announces a new round of €5M led by ACE Management, the European leader for private equity investment in cybersecurity. Building on its success in France and the United States, TrustInSoft’s next focus will be expanding its international presence.

Spun off from the French Atomic Energy Commission (CEA) under the leadership of Fabrice Derepas, Benjamin Monate and Pascal Cuoq, TrustInSoft is the first company to provide developers with guarantees of the quality of the code they produce, allowing “secure by design” developments to confirm critical code cybersecurity and secure operations without having to modify the development process.

TrustInSoft has been successful in rolling out its technology, and has built a solid base of reference customers in France and the United States, especially in the defence and nuclear industries. The company has also launched a freemium SaaS offer available to all GitHub developers in order to enable them to detect and remedy software development faults.

TrustInSoft is now expanding in two main areas: self-driving cars, and the internet of things (IoT). This €5M investment will allow the company to further penetrate these markets by rolling out a paying SaaS offer adapted to this environment, and structuring indirect sales channels through international partners. TrustInSoft is looking to capitalise on a scalable model by using dedicated open source platforms: Baidu’s Apollo for self-driving vehicles, and ARM Mbed for IoT projects. Combined with proven technological edge and a clear ability to apply its solution, this strategy should enable TrustInSoft to establish itself naturally as a key player.

“We are delighted to be welcoming some top new investors, and proud of the trust that our shareholders and clients are putting in our solution”, said Fabrice Derepas, CEO of TrustInSoft. “We have built a unique solution with a team of world-class experts, and this fundraising will allow us to continue our international growth and extend our technological progress to sharpen our competitive edge.”

“Factoring in security right from the design phase for critical embedded software is a major challenge to which TrustInSoft provides a user-friendly, scalable, ultra-hi-tech response that can be fitted into an industrial development cycle. We are delighted to be making our Brienne III fund’s first investment in TrustInSoft to back this brilliant team as it grows internationally”, said Gilles Daguet, General Partner of ACE Management.

“We are happy to be reaffirming our support for the TrustInSoft founders in this new and ambitious stage, for which ACE Management is the ideal partner. TrustInSoft has game-changing potential in the automobile and embedded software industries, allowing software publishers to demonstrate mathematically the reliability and strength of their code for the first time ever.” Louis Bô, Investment Manager at Idinvest Partners.

About TrustInSoft

TrustInSoft is a software publisher of a source code analyser that can provide mathematical guarantees as to the quality of the software and absence of weaknesses. With sales divided between Europe and the United States, and the biggest clients in Asia, the company hopes to transform the software market by testifying to product reliability and security. Already present in sectors where the software is critical, TrustInSoft is reaching a growing number of sectors in which cybersecurity is becoming a major concern.

TrustInSoft Press Contact:

Mahaut Gouhier
TrustInSoft
222 cour avenue du Maine
75014 Paris, France
+33 (0)7 69 84 46 04
mahaut.gouhier@trust-in-soft.com

About ACE Management

ACE Management (a subsidiary of Tikehau Capital) is a fund management company that, for 20 years, has been specialised in private equity to benefit innovation and industry. It manages three main product lines, representing more than €500M of investment: Aerofund (aerospace), Brienne (defence & cybersecurity) and Atalaya (shipping).The main investors in these funds are European industrial groups, institutional investors, and French regional governments. For more information: www.acemanagement.fr

ACE Press Contact:

Delphine Dinard
ACE Management
10 avenue de Messine
75008 Paris, France
+33 (0)1 58 56 25 68
del@acemanagement.fr

About Idinvest Partners

With €8bn in assets under management, Idinvest Partners is a renowned mid-market private equity company in Europe. Idinvest Partners has developed various complementary fields of expertise: venture and growth capital for young and innovative European companies; mid-market private debt (single tranche, senior loans and subordinated finance); primary and secondary investments in unlisted European companies; and private equity consulting. Created in 1997, Idinvest Partners belonged to the Allianz group until 2010, when it became independent. In 2018, Idinvest Partners became a subsidiary of Eurazeo, one of the world’s leading investment companies, which directly and indirectly manages €17.7bn of diversified assets, with nearly €11bn of this total invested on behalf of third parties in a portfolio of more than 400 companies.

Idinvest Press Contacts:

Idinvest Partners
Marie-Claire Martin
Head of Communications
+33 (0)6 85 52 52 49
mcm@idinvest.com

Steele & Holt
Claire Guermond
Consultant
+33 (0)6 31 92 22 82
 claire@steeleholt.com

Directory:

ACE Management:

Quentin Besnard – Partner
Stéphanie Hillard – Investment Director

ACE Management advisors:

Financial advisors: KPMG – Damien Moron
Legal advisors: Joffe & Associés – Thomas Saltiel and Charlotte Viandaz
Intellectual property advisors: Cabinet Benech    Frédéric Benech
Human resources advisors: Capic    Catherine Marechal

Corporate advisors:

Baker McKenzie – Antoine Caillard, Savéria Laforce and Gautier Valdiguie

Read full press release

Raphaël Rieu-Helft presented his paper at Oxford University

Our employee Raphaël Rieu-Helft attended the 9thInternational Joint Conference on Automated Reasoning, within the Federated Logic Conference at the prestigious Oxford University.

There, he presented “A Why3 framework for reflection proofs and its application to GMP’s algorithms” co-authored with Guillaume Melquiond from Inria. This framework makes it easier to write dedicated decision procedures that make full use of Why3’s imperative features and are formally verified. Raphaël uses it to formally verify GMP’s algorithms.

Have a look at his presentation here

As we are always striving for continuous scientific improvements, we are truly proud of Raphaël’s achievement.

CONGRATULATIONS Raphaël!

Applying formal methods to existing software: what can you expect?

Our CTO Benjamin Monate giving a talk at the Sound Static Analysis for Security Workshop 2018 at the National Institute for Standards & Technology (NIST).

Applying formal methods to existing software: what can you expect?

Find the slides of Benjamin’s talk at the NIST here 

Formal methods-based source code verification tools have a very strong promise: mathematically prove that a piece of software is perfect. In some specific economic sectors, new languages have been adopted to help developers build perfect-by-construction software. But the vast majority of software is not perfect-by-construction and experience shows that it comes with tons of bugs. In this talk, Monate discussed what developers can expect from the application of formal methods-based tools to existing imperfect-by-construction code bases, what they should not expect, and how such tools will help make the software better and better by incrementally reducing its hidden technical debt.

This work has been supported by the Core Infrastructure Initiative of the Linux foundation.

Michele Alberti wins LOPSTR 2017 Best Paper Award

In October 2017, our dear employee, Michele Alberti attended the 27th International Symposium on Logic-Based Program Synthesis and Transformation in Namur in Belgium.

The LOPSTR series of conferences aims to stimulate and promote international research and collaboration on logic-based program development.

Michele presented the research work “Context Generation from Formal Specifications for C Analysis Tools”, co-authored with fellow researcher Julien Signoles from the CEA List – Software Security Laboratory. For its relevance, originality and technical quality, his work has won the LOPSTR 2017 Best Paper Award.

Read the paper here.

As a Start-Up company that values teamwork effort and Research & Innovation, we are truly proud of Michele’s achievement.

CONGRATULATIONS Michele!

Happy 2018 from TrustInSoft

Happy 2018 from all of us at TrustInSoft. What we achieved in 2017 thanks to you, is just the beginning. Thank you to our community for this great year! Keep your software secure & code safely! Cheers! #HappyNewYear2018

Meet us at CES2018 in Las Vegas

From tech powerhouses to innovative startups, companies big and small from all industries come to CES to introduce the latest innovation to the global market. It has served as the proving ground for innovators and breakthrough technologies for 50 years — the global stage where next-generation innovations are introduced to the marketplace.

TrustInSoft will be attending this years edition of CES in order to showcase the innovative technology behind the TrustInSoft Source Code Analyzer.

Want to know more about how you can validate your software? Come meet TrustInSoft at the Business France Automotive Pavilion, stand CP-5, Central Plaza, at CES, on January 9-12, 2018.

See you there!

Our 1st Free & Online Source Code Analyzer launched at Arm TechCon

TrustInSoft attended ARMTechCon last week from the 24th to the 26th of October in Santa Clara, CA.  It was a great show, and our booth was very busy.

We also hosted our product launch party on Wednesday 25th. We enjoyed a great keynote by Dr. Murray, our CTO’s new product announcement, and a live demo. It was also a great time to network with our guests while sharing appetizers and champagne.

However, the star of the show was and remains our 1st Free & Online Source Code Analyzer.

Try it now

Taking it to the next level

Imagine a dragon without fire. You can’t, right? Well, we can’t imagine a software without mathematical guarantees either. Learn how to formally verify YOUR code with the very 1st free & online source code analyzer. Free champagne, live demos, free beta access, and keynotes from outstanding researchers. Don’t miss out!

5 Reasons to participate

  • Opening keynote by Dr. John Murray, Program Director at SRI International Computer Science Laboratory, about Formal Methods & Software Validation in the real world
  • Announcement speech by CTO Benjamin Monate, introducing the 1st Free & Online Source Code Analyzer with mathematical guarantees
  • Live static source code analysis demo
  • Cocktail & Networking
  • Get a FREE Expo Pass or a 20% discount on a Conference Pass at ARM TECHCON 2017 from TrustInSoft using the code: “INVITE”

Don’t miss out, REGISTER NOW!

REGISTER

TrustInSoft: Winner of the Smart Security Week Innovation Awards 2017

TrustInSoft proudly received the 2017 Innovation award from the SmartSecurityWeek Awards under the category “Cybersecurity”. The SmartSecurityWeek is rewarding and recognizing innovation in technology & business in trusted technologies.

The smart security week took place in Marseilles, France, from September 26-28. More information about the event can be found here: www.smartsecurityweek.com

If you want to know more about our innovative technology, read more : HERE!