Isai invests €7m in Vade Secure

A mix of loans helped push the overall amount secured by the cybersecurity firm in the round to €10m.

Vade stated it would aim to pursue full compatibility with Microsoft's Office 365. It will also look to expand internationally – while its products have been distributed outside France by intermediaries for some time, the company wants to directly reach international customers and sell the software under its own brand.

According to French publication Capital Finance, Isai deployed capital via its growth vehicle, Isai Expansion. The VC closed the vehicle on €50m in 2013; Isai Expansion was the second FCPR vehicle raised by Isai, which closed its first vehicle, Isai Développement, on €35m in October 2010. The maiden fund targeted internet businesses at the seed stage, while the second vehicle focuses on larger equity tickets.

The firm did return to its early-stage venture roots in 2015 though, wrapping up fundraising for Isai Venture II on its €75m hard-cap.

Company
Having spun out of Goto Software in 2013, Vade develops email security software. The company has created a set of security features against email scams such as phishing, malware and ransomware.

Vade claims to have recorded annual growth rates of 50% since 2013. It is aiming for a $50m turnover by 2020. Having created 70 jobs in the past 18 months, it will look to make another 100 hires across 2017-2018.

People
Isai – Antoine Lacour (venture partner); Pierre Martini (managing partner); Guillaume Monin (investment manager).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• France
• Expansion
• Technology
• ISAI
• France
• Venture