Sqreen raises $ 2.3 million to investigate application flaws
Sqreen, self-protection solution for SaaS developers, announces its first fundraising of $ 2.3 million in seed money from Alven Capital as lead investor, the German fund Point Nine Capital, 50Partners, but also with “tech” business angels, such as Marc Verstaen (Docker), Thibaud Elziere (ex Fotolia), Francis Nappez (Blablacar), Philippe Plichon (Dropbox), and Justin Ziegler (PriceMinister).
“Our system allows web application protection solutions to be recovered in two minutes. It makes it possible to inject dynamic protection logic in a transparent way, in order to find flaws and correct them, without going through the developers, ”explains founder Pierre Bétouin, who claims a different approach from existing solutions.
Sqreen, which currently employs eight people in Paris, considers itself a “NewRelic of security”, in reference to the American performance app solution which notably measures application load times. “We are a serum for app, organically integrated, using probes, in the web application”, details at Frenchweb Pierre Bétouin. In this B2B market, it is the developers who are the customers. Pierre Bétouin also cut his teeth in the A380 intrusion test teams at EADS, before spending nine years managing security tests in Apple’s “red team”. “We are at the intersection of the product and the developer”, explains the founder today.
The solution therefore challenges the AB testing market, companies that offer “exception monitoring”, and audit companies. “Ultimately, we will replace traditional intrusion tests and security audit companies.” Sqreen also adds a community dimension to its solution, with the sharing of faults and repaired codes. A similar solution for mobile is expected in a few months.
The objectives of the Start-up
The Parisian company expects to reach twenty employees by the end of the year. “We have decided to stay in France and raise funds in France and in Europe; the idea is to keep our activity here for the moment, before opening an office in San Francisco within a year, ”explains Pierre Bétouin. “It’s a new approach to security, geared towards developers. Or. Upstream B2B.” Those who finance us are the same as for the company Algolia, with which we are very close, “explains Pierre Bétouin.
Founder: Pierre Bétouin, Jean-Baptiste Aviat
Creation date: July 2015
In this market: B2C flaw resolution, audit company, Checkmarx (Israel)