Having Raised €37m on Euronext Growth, WALLIX Now Aims to Place Cybersecurity at the Center of Digital Transformation
PARIS June 21, 2018 – WALLIX GROUP (Euronext code: ALLIX), cybersecurity software vendor, and European specialist in the management and protection of privileged access, has finalized a total of €36.8M in raised capital on May 22, 2018. These funds will shore up the vendor’s ability to realize its ambition of protecting identities, access and sensitive corporate data in a digital world by:
- Assisting organizations in their compliance programs (NIS, GDPR, PCI-‐DSS, etc.) and implementation of Security & Privacy by design1;
- Widening its range of cybersecurity solutions,
- Establishing an international presence through a network of integrator partners in EMEA and North America;
- Expanding its ecosystem through strategic alliances in key sectors such as the industries of the future, the Internet of Objects and artificial intelligence.
ASSISTING ORGANIZATIONS IN THEIR CYBERSECURITY CHALLENGES
WALLIX intends to build upon its position among European leaders in privileged access management (PAM) to become a world player in cybersecurity capable of leading organizations through their digital transformation to protect key assets in their digital business, i.e., access, data and identities. WALLIX aims to facilitate the development of ethical and trustworthy digital habits while simplifying organizations’ compliance with regulations and new European standards such as the GDPR and NIS with regard to IT risk management.
The vendor therefore proposes to consolidate a range of innovative cybersecurity solutions to assist organizations in their Security & Privacy by design approach in existing information systems or in the cloud.
These solutions will complement WALLIX’s current product offerings that include:
- WALLIX Bastion, a software suite that enables the management of password-related issues in organizations, and control over internal and external access to applications and the organization’s networks;
- DataPeps, a SaaS end-to-end encryption solution that allows developers and application vendors to encrypt data traffic.
WALLIX therefore expects to commit approximately two-thirds of the raised funds to targeted external growth campaigns in France and worldwide.
WALLIX is now in a position to release its solutions in half of the EMEA region as well as in certain parts of North America. The vendor intends to invest in international expansion and cover 80% of its market by 2021.
In order to do so, the company will invest in the development of its network of integrators and value-added resellers in all countries concerned, focusing in particular on German-speaking regions, the United States and Canada.
At the same time, WALLIX plans to create a new alliance program that will coordinate an ecosystem of partners, with the aim of facilitating the integration of its solutions WALLIX Bastion and DataPeps with mainstream third-party solutions. The top priorities are the sectors of identity management and governance, strong authentication, artificial intelligence, as well as application vendors that wish to integrate encryption into their users’ communications. These initiatives will help speed up the adoption of technology as part of new business practices, such as eHealth, Industry 4.0, finance, retail and the Internet of Objects.
Currently, WALLIX has 160 accredited partners in more than 55 countries that foster a localized relationship with end users. The raised capital will make it possible invest in the coordination and extension of this network, to ultimately accommodate the rapid growth of the cybersecurity market wherever it takes place.
Jean-Noël de Galzain, Chairman of the WALLIX GROUP Management Board, commented, “This fundraising will allow us to recruit more than 150 people over the next few years to keep up our excellence in software development while launching a highly ambitious international sales expansion plan focusing on channel best practices, which have been behind WALLIX’s success. Backed by targeted acquisitions to complement our current product offerings, by 2021, we hope to bring forward a European pure player, a leader in cybersecurity and a force to be reckoned with in identity, access and data.”
A software company providing cyber security solutions, WALLIX Group is a European specialist in privileged account governance.
In response to recent regulatory change (NIS/GDPR in Europe and OVIs in France) and the cyber security threats affecting all companies today, WALLIX’s products and solutions help users protect their critical IT assets. The WALLIX Bastion secures access to servers, terminals and connected objects. It is the first market solution to have been awarded first-level security certification (CSPN) by France’s National Cybersecurity Agency (ANSSI) and thus meets all of the criteria for regulatory compliance. The DataPeps solution protects corporate data by providing an end-to-end encryption software component in SaaS mode, enabling organizations to meet the requirements imposed under the GDPR.
WALLIX assists more than 570 companies and organizations in improving their access management every single day, and markets its solutions through a network of more than 160 resellers and accredited integrators. Listed on Euronext under the code ALLIX, WALLIX Group is a leader on the PAM market with a strong presence throughout Europe and EMEA.
WALLIX Bastion was a winner at the 2016 Computing Security Awards and has been rated Best Buy by SC Magazine, as well as being named among the PAM leaders in the Product and Innovation categories of the KuppingerCole 2017 Leadership Compass report. The company is a member of Bpifrance Excellence, a champion of the Pôle Systematic Paris Region cluster and a founding member of the Hexatrust grouping of cyber security companies. In 2017, WALLIX Group was included in Forbes France’s Futur40 ranking of fastest-growing listed companies, and has joined the Tech 40 index.
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1Founding principles that oblige organizations to integrate concepts of data security and protection into products and services from the moment they are designed, including the concepts imposed by the GDPR.