Toulouse ITrust is preparing to take on a European dimension

SNCF’s “Future TGV” is likely to be secured by a Toulouse company. ITrust, publisher of Cybersecurity Solutions, has launched a “project” in collaboration with Carrier to use artificial intelligence to detect cyber attacks and “physical” malicious acts between electric trains and locomotives and tomorrow’s connected devices. On track in 2024.

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“The first phase, which is now complete, was the foresight to see if the cybersecurity tools and artificial intelligence we created could respond to the new challenges facing the SNCF. Its founder.

The tools of the Toulouse-based company have thus made it possible to achieve a detection rate of over 97% for various attacks. From now on, the two teams are entering the second phase of the project, integration. Also, the Toulouse company wants to fully implement its solution in other businesses such as smart building, satellite, connected car and Smart apps IoT.

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The facts are fourfold

Founded in 2007 in Pink City, ITrust has seen steady and rapid growth in its activity in recent years due to the proliferation of cybercrime. “Attacks and hate activities have increased over the last two to three yearsIn fact, hospitals, communities and sensitive companies are increasingly becoming targets for the data they have, a real gold mine for cybercriminals. In the past two years, according to the Toulouse Society, attack attempts and incidents have quadrupled. Jean-Nicolas Pyotrosky believes that the war in Ukraine and the current economic context have not changed this trend.

“All in all, we notice that consumers are becoming increasingly aware. But there are still many companies that are not secure or who think they are. And that’s, in all cases. The level of security in hospitals, clinics, laboratories and nursing homes is quite dramatic. “SMEs start from afar because they don’t have the budget, the solution or the expertise,” he said.

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Today, cybersecurity solutions claim more than 1,000 customers. Within its client portfolio, it has about 150 major, medium-sized structures, several hundred notary firms, but also the Ministries of Defense, Agriculture and Justice. In the last four years, the company has failed 100% of cyber attacks on its customers. Its flexible and easy-to-use model allows it to adapt to the size and budget of all companies, from the telephone of the President of the Republic to the small accounting firm of a handful of employees.

To take it to a new level, especially internationally, ITrust seeks to restructure its capital to achieve external growth from 2022 onwards. The aim is to become a European leader in artificial intelligence applied to defensive cyber security. For the record, in 2019, it conducted a first growth operation in the capital of Irish startup 4Securitas, including “significant equity investment”, which also specializes in cyber security using artificial intelligence.

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“The whole situation has been on the table for weeks now. We are working with various financial and industry partners on the strategy to be adopted in the coming months to accelerate. We do not need to raise funds. We have a strong growth. We are looking for hidden opportunities and equity investments in companies that will allow us to expand our client portfolio. “

Double order in 2022

The company, which is showing rapid growth and enjoying a certain amount of financial stability, wants to take advantage of the current trend to accelerate and acquire new market shares. Between 2020 and 2021, ITrust experienced an increase of more than 70% in new orders for an amount of around 10 million euros. In the last two financial years, it has posted more than 70% recurring revenue. Also, 100% signed contracts, usually lasting four years, are renewed when they expire. In 2022, it plans “Good growth“About 40% of its turnover and to double its orders. More prudent and cautious than its competitors, the Toulouse company does not disclose its turnover.

“This year we are going to launch a new offer for hospitals and town halls. We are going to win big deals. For example, we have signed with the National Solidarity Fund for Autonomy (CNSA) which raises about 35 billion euros in funding”, the entrepreneur said. .

Abroad “Four years to reverse status”

At the same time, ITrust is launching its cyber security offer internationally from the summer of 2021. The company is looking for overseas partners, hosting providers, outsourcers or IT consultants who can provide solutions by pressing the white label AI. Thus the company has launched prospects in Canada, Germany, Benelux, North Africa, Brazil, Australia and the Philippines. As cybersecurity is transversal, ITrust’s goals are in all areas of activity.

With this strategy, ITrust seeks to reverse the current international trend. He, who currently owns 15% of his turnover abroad, eventually wants to go to 80% It is in the process of setting up a subsidiary abroad, outside of Europe, for the end of 2022.

“I have four years to reverse the status quo. We have a strong hunger abroad. Our only competitor is the American company. But some countries or companies do not want to use American products.”

Currently, ITrust employs 60 people in France and about 30 abroad, including engineers from Eastern Europe and South Africa. In France, its staff is divided between its Toulouse headquarters (40) and its Paris office (20). In the future, the French entity will be a major player in the future “cybersecurity campus” project, led by the Occitan region.

“We need to help our communities, health services, to participate in the life of the nation and protect its citizens. We understand that they are deprived and we must bring their help and not necessarily in a commercial way”, concluded Jean-Nicolas Piotroski.