STid secures €20m funding round to drive global expansion
James Thorpe
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STid has secured a €20m funding round from the investment firm, Capital Croissance.
This funding will enable STid to pursue its growth plans while maintaining its independence.
“STid is accelerating”
STid is said to be driven by strong growth dynamics, both in France and globally, thanks to the close relationships it forms with partners.
The company has seen its turnover grow by 100% over the last three years, reaching €29m in 2023.
“With the support of Capital Croissance, STid is accelerating its development and making investments that are in line with the actions taken over the past five years,” said Vincent Dupart, CEO, STid.
“We will intensify our international development, particularly in the USA, Canada, Europe, the Middle East and in Asia, while improving the quality of our services in our historical markets.
“In addition, we will continue to invest in the development of trusted technologies that have made our success: Certified and interoperable solutions such as Systems Security Certified Practitioner (SSCP).”
Growth and development
In 2022 and 2023, the company made two acquisitions – SpringCard and Unicacces – both of which have resulted in significant growth.
Now, the global solutions provider has claimed that it has updated its plans by integrating new perspectives following the group’s expansion.
Not only will STid enhance investments to guarantee availability and support, the fundraising is part of an ambitious development logic which will accelerate research and development investments.
In 2024, STid is looking to continue expanding by integrating 18 new employees; the company will also be deploying new training programs and initiatives dedicated to quality of life at work.
Moreover, STid has created a Corporate Social Responsibility Department and is looking to distinguish itself through initiatives in sustainable performance.
“Our objective is to develop our strategy and our societal and environmental impact by integrating these values into the heart of our solutions and our operations,” added Dupart.
Minority interest will allow STid to maintain independent strategy while upholding sustainable development.
