Intersec Group raises $10m in funding from Cisco and Omnes Capital

French private equity firm Omnes Capital has co-led a $10m new financing round for Paris-based fast data analytics specialist Intersec.

The round was co-led by software group Cisco Systems and backed by Harbert European Growth Capital and its banks, with participation also from Innovacom, Highland Capital Partners Europe and CMC-CIC Innovation.

Intersec, which has been focused on servicing clients in Europe and Africa, is now expanding its business globally. The company saw 50 per cent growth in its core market last year.

Telecoms groups such as Telefonica, Orange, Maroc Telecom Hong Kong’s PCCW, Egypt’s Mobinil and Russia’s MTS use Intersec’s services.

Commenting on the investment, Renaud Poulard, partner at Omnes Capital, said, “We chose to invest in Intersec since they have all the right components to fulfill their ambition.

“The team’s technical and operation expertise, combined with their breathtaking software is an unbeatable value proposition.

“With its Fast Data capabilities, Intersec is further enabling companies looking to make sense of their data lakes in the fields of telco, retail, transports or banking.”

In January, Omnes announced the sale of its stake in SLG Recycling, a French waste management company it bought out in 2008.

This was just a few days after the French PE firm scored 3.4x return from the sale of its stake in private clinic operator Vivalto Santé.