Belgium CIAM specialist TrustBuilder joins inWebo Group, an Identity and Access Management (IAM) specialist backed by French investment fund Essling Expansion.This rapprochement will enable the Group to accelerate its international expansion and product development.
inWebo Group was founded in April 2021 when Essling Expansion, the growth Equity fund of Essling Capital, a French independent asset management company that manages and advises over €1.2 bn, led the reorganization of Multifactor Authentication (MFA) specialist inWebo Technologies’ capital with two other renowned minority investors, Bpifrance and Entrepreneur Invest. With Essling Expansion as the company’s majority shareholder and Olivier Perroquin as President, inWebo Group put in motion its plan to build a global cybersecurity SaaS platform focused on digital identity, access management and data protection for customers in Europe and overseas countries through a buy& build strategy.
With the acquisition of TrustBuilder, inWebo Group is now built around two flagship companies: inWebo Technologies (based out of Paris), whose specialty is Multifactor Authentication, and TrustBuilder (based out of Ghent), that designs powerful, customer-centric IAM solutions. Together, the Group’s offer covers a larger part of the IAM market and is now able to serve customers worldwide even better with a complete set of best-of-breed cybersecurity products. Working together will further drive the international reach of both inWebo Technologies and TrustBuilder and will open up new R&D opportunities to bring disruptive innovations on the IAM market.
“The acquisition of TrustBuilder will allow inWebo Group to generate multiple synergies, above and beyond the immediate cross-sell plan,” said Oliver Perroquin, President of inWebo Group. “The product portfolios of inWebo Technologies and TrustBuilder are very complementary. This provides each company with an immediate scope of new functionalities, and a strong basis for the addition of new features.”
“Becoming part of inWebo Group creates tremendous opportunities for TrustBuilder and our customers,” said Frank Hamerlinck, CEO of TrustBuilder. “With the financial backing of Essling Capital, we can continue to grow internationally and intensify the further development of our unique product set. The investment guarantees our customers will continue to benefit from the current high level of quality products and (professional) services.”
Frank Hamerlinck is a successful multi-entrepreneur: he cofounded SaaS-company Porthus, which was acquired by Descartes in 2010, and also co-founded NG Data. As TrustBuilder’s CEO and now a member of inWebo Group’s executive team, Frank Hamerlinck, will play a key role in achieving inWebo Group’s strategic plans.
About inWebo Group
inWebo Group, supported by the Essling Expansion fund, Entrepreneur Invest and Bpifrance, is a major, pan-European player in the cybersecurity market. With a broad range of integrated best-of-breed products and solutions, inWebo Group offers customers in Europe and overseas a global cybersecurity SaaS platform focused on digital identity, access management and data protection. The Group is built around two flagship companies: inWebo Technologies, whose specialty is Multifactor Authentication, and TrustBuilder, which designs powerful Customer Identity and Access Management solutions. Together, the Group’s offer covers a larger part of the IAM market and plans to acquire other specialized companies to further complete its offering.
About inWebo Technologies
Founded in 2008, inWebo is a key international player in the cybersecurity industry thanks to its full SaaS multifactor authentication solution, one of the most secure and agile on the market. inWebo MFA protects transactions, B2B applications, VPN, SSO, PAM, IAM and sensitive consumer applications (online banking, e-health, etc.) against identity theft, phishing and credential stuffing. Its patented technology, based on random dynamic keys, combines two key elements: a very high security and an improved user login experience thanks to its exclusive deviceless and passwordless token. Certified by the French national cybersecurity agency (ANSSI), inWebo’s solution secures the access of more than 5 million users across 300 worldwide companies.
About Essling Expansion
Essling Expansion is a growth Small & Lower-Mid cap fund dedicated to fast-growing companies in digital, software, healthcare and B2B services sectors. Essling Expansion’s portfolio companies are highly focused on buy and build strategy and have already completed 13 external growth transactions to date. Essling Expansion is managed by Essling Capital, an independent asset management company specialized in private equity approved by the Autorité des Marchés Financiers, which also manages global co-investment funds (“Essling Co-Invest”) and is currently developing a global co-investment strategy 100% dedicated to healthcare.