Paris-based Memority, a company reinventing identity and access management, has completed its first Series A financing round, raising €13M. The capital will support the company’s expansion in Europe in Identity and Access Management (IAM).
The investment was led by Tikehau Capital, an alternative asset management group, via Brienne, its private equity strategy dedicated to cybersecurity.
ID-as-a-Service serving business challenges
Cybersecurity has become a key concern for organisations as cyberattacks rise. Protecting information systems, sensitive data, and digital identities is necessary to maintain operations and user trust.
Juniper Research states that 85 per cent of cyber incidents involve digital identity. ANSSI reports a 37 per cent rise in cyberattacks in France in 2022. And according to Gartner, 80 per cent of companies are expected to use Identity-as-a-Service (IDaaS) by 2027. This is where Memority is looking to make a difference.
Memority was founded to change identity and access management for the cloud era. Its four founders, Gilles Castéran, Francis Grégoire, Alexis de Calan and Phouric Ung, bring experience in IAM and offer a European platform for Identity-as-a-Service.
The company’s Identity Factory is a SaaS platform that manages identity and access for employees, partners, customers, and connected devices. The platform combines identity and access management to address cybersecurity, user needs, and business goals.
It provides authentication and access control through offerings such as IDaaS, IGA, CIAM, SSO, Federation, and MFA, creating a centralised system for identity and access management.
Memority’s platform aims to help customers shorten IAM project timelines, reduce ownership costs, improve visibility over identity and access, and speed up business transformation.
Capital utilisation
The funds will support faster development and rollout of the Memority platform’s technology plan. It will also help expand the sales team and increase the company’s presence across Europe.
Gilles Castéran, CEO of Memority, says, “In a context of accelerating digitalisation, technological autonomy and the search for operational performance, we are building a European champion by reinventing identity and access management for European companies and organisations.”
“After a year of strong growth in 2024, during which both large and mid-sized companies placed their trust in us, Tikehau Capital’s investment will enable us to accelerate our international development,” adds Castéran.
