Paris-based Memority has successfully secured €13 million in its first Series A funding round to boost its Identity and Access Management (IAM) capabilities in Europe. With cyberattacks becoming increasingly frequent, effective identity management is critical for companies to protect data and maintain user trust. By offering innovative solutions, Memority aims to address these challenges head-on. The investment was facilitated by Tikehau Capital through Brienne, highlighting a strong focus on cybersecurity.
In recent years, the focus on cybersecurity has intensified as digital threats evolve. Reports have noted a significant increase in cyberattacks, particularly in France. Historical data from ANSSI revealed a concerning uptick of 37% in cyber incidents in 2022 alone. Meanwhile, Juniper Research indicates that digital identity factors into 85% of cyber events. Companies are increasingly expected to turn to Identity-as-a-Service (IDaaS) solutions, with forecasts suggesting an 80% adoption rate by 2027, according to Gartner.
Why Choose ID-as-a-Service?
The rise in cyber threats has driven more businesses to consider IDaaS platforms to safeguard sensitive data. Memority, established by four founders with substantial expertise in IAM—Gilles Castéran, Francis Grégoire, Alexis de Calan, and Phouric Ung—responds to this demand with its Identity Factory platform. This SaaS offering manages access and identity across various users and connected devices, aiming to align cybersecurity priorities with business requirements.
What Makes Memority Stand Out?
Memority differentiates itself by offering a suite of services including SSO, MFA, CIAM, IGA, and more, through a centralized platform. Their focus is on providing solutions that not only protect digital assets but also enable quicker IAM project deployments, reduce expenses, and enhance operational transparency, thereby facilitating business transformation.
With this newfound capital, Memority plans to enhance its technology’s development and expand its reach across Europe, bringing in additional sales personnel to bolster its growth trajectory. This comes on the heels of a successful 2024, where both large and mid-sized entities increased their trust in Memority’s offerings.
“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,” states CEO Gilles Castéran.
The added financial backing by Tikehau Capital should accelerate international expansion efforts, positioning Memority to substantially influence the European IAM landscape. Castéran remains optimistic about leveraging these funds to spearhead growth and extend technological autonomy throughout the region.
The strategic decisions and investment secured by Memority underscore the vital role of identity management in today’s digital economy. As cyber threats grow, companies across Europe turn to solutions like Memority’s that promise enhanced security while aligning with their business imperatives. Tikehau Capital’s involvement reaffirms the critical partnership needed to achieve scale and reinforce privacy and safety in a digital world.
