French cybersecurity firm Protected has surpassed €20 million in annual recurring revenue (ARR) without raising external capital, marking a significant milestone as it accelerates its European expansion. The company, founded in 2017, has achieved this growth entirely through bootstrapping, reinvesting its own profits to scale operations.
Protected provides a managed detection and response (MDR) service, offering 24/7 threat monitoring, analysis, and response for businesses. Its client base now exceeds 450 companies, primarily in France but with a growing presence across Europe. The firm attributes its success to a capital-efficient model and strong demand for outsourced cybersecurity expertise amid a complex threat landscape.
The €20M ARR milestone comes as Protected intensifies its European rollout, leveraging a partner network to serve clients in Germany, Spain, Italy, and the UK. The company plans to continue its organic growth strategy, focusing on deepening its technological capabilities and expanding its team of security analysts. This approach contrasts with many venture-backed cybersecurity startups, highlighting a sustainable, profitability-focused path to scale in the competitive enterprise security market.