Sentryo raises €2m from Ace et al.

The round, announced 18 months after Sentryo's foundation, will be used by the startup to accelerate commercial development in Europe.

The expansion will come with a focus on the company's domestic market in France and in Germany, where it operates in partnership with the EIT Digital platform. Over the next few years, the business expects mounting demand for its cybersecurity services among industrial internet-of-things clients, increasingly the target of hackers.

One of the two institutional backers of the round, Ace is a GP with offices in France and Canada that targets small and medium-sized businesses from the defence, aeronautics and security segments.

Meanwhile, Rhône-Alpes Création is a regional investor that writes €100,000-500,000 tickets for companies headquartered in the French south-east; the firm backed Sentryo via its RAC II and R2V funds.

Company
Founded in June 2014, Sentryo develops software used to protect industrial internet-of-things businesses against cybersecurity risks. Headquartered in Lyon, the company services clients that manage machine-to-machine networks such as energy and transportation providers. Its current headcount sits at nine employees.

People
Ace Management – Gilles Daguet (managing director); Stéphanie Hillard (project manager).
Rhône-Alpes Création – Mathieu Viallard (investment director).
Sentryo – Laurent Hausermann (co-founder, managing director).

Advisers
Equity – Joffe & Associés, Thomas Saltiel, Philippe Balaÿ (Legal); Advance Capital, Olivier Mortier (Financial due diligence).
Company – Lamy & Associés, Eric Baroin, Laetitia Desrumont (Legal).

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• Topics
• Expansion
• Technology
• France
• France
• ACE Management
• Venture