ProvenRun recently announced the completion of a €15 million investment round. The company provides operating systems (OS) and applications designed for security in smart devices and connected vehicles. Their primary product, ProvenCore, is notable for being one of the few OSs to attain EAL7 certification under Common Criteria, a widely recognised standard in computer security. ProvenCore employs a mathematical verification method, aiming for high reliability in its machine code.
The security approach of ProvenCore is proactive, focusing on long-term security-by-design rather than reactive measures. This strategy enables carmakers and IoT device manufacturers to enhance cybersecurity, streamline the development and certification of applications, meet regulatory requirements, and reduce lifecycle maintenance costs.
ProvenRun’s technology is relevant to sectors such as aerospace and defence, automotive, and semiconductors. Its software solutions, designed with security in mind, address the challenges of the growing IoT sector. These solutions feature a Trusted Execution Environment, aimed at protecting against remote cyber threats. ProvenRun plays a significant role in integrating software security in vehicles and microcontrollers, working with companies such as STMicroelectronics.
The Series A funding is intended to support ProvenRun’s development of new products, including automotive security applications and Risc-V architectures, and assist its expansion into North American markets.
Tikehau Capital’s investment comes from its private equity cybersecurity strategy, a notable fund in Europe focused on digital security. This strategy’s fourth phase recently secured €200 million. Tikehau Capital is committed to investing in technology that enhances digital security and supports companies offering cybersecurity solutions.
Gilles Daguet, Head of Tikehau Capital’s Private Equity Cybersecurity Strategy, stated: “Tikehau Capital has been a proponent of the ‘secure-by-design’ philosophy in our cybersecurity investments. ProvenRun’s products are significant in enhancing the security of embedded software. We are confident in ProvenRun’s market potential and its leadership.”
Dominique Bolignano, Founder and Chairman of ProvenRun, said: “ProvenRun aims to improve cybersecurity standards and build trust in IoT. Our tested OS is a strong defence against increasing remote cyber threats. The investment from Tikehau Capital will help accelerate our development and international growth.”
IGA Alexandre Lahousse, Head of the Industrial Affairs and IE Department (DGA), commented: “Securing advanced embedded systems is a key part of the Ministry of Defence’s digital strategy. ProvenRun has developed technology applicable to both civilian and military uses. This funding will enhance ProvenRun’s role in the cybersecurity field and its contribution to securing connected systems.”
Stephane Lefevre Sauli, Senior Investment Director of Bpifrance, remarked: “Bpifrance, after supporting ProvenRun’s research and development with grants, is proud to continue its support in this new phase. ProvenRun’s focus on cybersecurity for embedded and critical systems with a secure OS aligns with Definvest’s investment strategy and addresses issues of sovereignty and national defence.”