Cryptolog, the leading French electronic signature software publisher has concluded a 1.7 million Euro funding round and is pleased to announce CM-CIC Capital Innovation as a new shareholder. The aim is to support the sustained growth of Universign’s online signature platform.
Cryptolog, the trusted third-party and publisher of cutting-edge electronic signature software, is happy to announce the conclusion of a 1.7 million Euro funding round, with CM-CIC Capital Innovation and SUDINNOVA as new shareholders. They have the support of the original shareholders, in particular Script Capital and Beaubourg Capital, for this operation.
The end goal of this share capital increase is to significantly increase the functionality of Universign’s online signature platform, in order to speed up his development by strengthening his sales teams and to cement his leading position in France, thanks to the additional reach achieved by having CM-CIC Capital Innovation as an institutional shareholder.
Co-founded in 2001 by Julien Stern, Cryptolog is a pure-player in the fields of electronic signature and digital identity management. Cryptolog, a trusted third party and software publisher, is now acknowledged as a leading expert in Europe on his business sector. Since 2007, the company has enjoyed 30% CAGR on average, with 1.65 million Euros in sales over 2012. Cryptolog’s intense innovation culture and strong beliefs have attracted high-profile clients, both companies and government departments, including Axa, the European Commission, the French Council of State, Edenred, Informatique CDC, Ingenico and SFR
With the goal of bringing electronic signature to industrial scale, Cryptolog has developed and marketed since 2012 a Cloud-based signature offering called Universign: www.universign.eu.
Universign allows companies and individuals to get their contacts to electronically sign all kinds of documents and to add a dedicated “Sign” button to their website just as they would add an online payment service. Universign is a genuine cross-channel contracting solution, which provides legal security at a cost and simplicity of operation never offered before within a B2C context. From his launch, 18 months ago, the platform has enjoyed exceptional growth in the French market and, in particular, has become the “go-to” solution for insurance companies.
“Currently, all our new signature projects are converging onto Universign. With the number of electronic signatures on the platform doubling every two months, we have significant growth challenges to manage. This funding round will allow us to bring together all the fundamentals we need to support our development. Over and above financing, welcoming as a shareholder a banking sector player such as CM-CIC Capital Innovation represents a key success factor for a company such as ours, which specifically targets the financial services sector”, states Julien Stern, Cryptolog CEO and co-founder.
For Stéphane Simoncini, Director of Shareholdings at CM-CIC Capital Innovation: “Over the years, the entire Cryptolog team has successfully demonstrated the solidity of his model. Julien Stern is recognised as an expert and a reference by all the players in this sector. Today, we genuinely want to support Cryptolog in his growth over the long term and to make it a true success story.” .
Lastly, Cryptolog would like to thank Multeam’s team for their support in this funding round.
About electronic signature
Electronic signatures are to digital documents what hand signatures are to paper documents. Like paper signatures, the purpose of an electronic signature is to show third parties that a digital document was approved by an identified person. Electronic signatures guarantee the integrity of the signed document, the identity of the signatory and the non-repudiation of the signed document by the signatory. In French law, pursuant to decree no. 2001-272 dated 30 March 2001, they can have the same legal value as handwritten signatures.
About CM-CIC Capital Innovation and Sudinnova
CM-CIC Capital Innovation, a subsidiary of CM-CIC Capital Finance, specialises in venture capital investments. His objective is to invest in companies that are developing promising technologies, right from the very first steps of their development. CM-CIC Capital Innovation selects companies with high growth potential in dynamic sectors such as information technology, telecommunications, electronics, life sciences, new materials and the environment. CM-CIC Capital Innovation’s policy is to provide innovating start-ups with financial assistance for 5 to 7 years enhance their chances of success.
The level of investment is tailored to each case – generally between 0.5 and 3 million Euros. These funds are released progressively in several steps corresponding to the development requirements. Sudinnova, the other CM-CIC Capital Finance subsidiary, works as co-investor to CM-CIC Capital Innovation.