When did Elaia Partners acquire Arsen?

Arsen is a Paris-based cybersecurity company whose SaaS platform trains employees against social-engineering attacks through realistic phishing, voice-phishing (vishing) and SMS-phishing (smishing) simulations combined with microlearning and behavioral reporting. It competes in the human-risk and security-awareness segment, differentiating through AI-generated voices and adaptive dialogue that extend simulated attacks beyond email to phone and mobile channels. According to its own disclosures, the platform has trained more than 500,000 employees across over 1,000 client organizations.

Ownership journey

Arsen was founded in Paris in 2021 by Thomas Le Coz and Alexandre Esser on the premise that social engineering is the simplest route into corporate networks. In December 2022 the company closed a EUR 2.5 million seed round led by Elaia Partners, investing through its Elaia Alpha II deeptech seed fund, alongside LeFonds by French Founders and business angels. Elaia remains an active shareholder and Arsen is still listed as a current portfolio company; no exit or secondary transaction has been recorded.

Under PE ownership

The 2022 seed capital was earmarked for growth, human-behavior research and recruitment, and since the investment Arsen has widened its product from email phishing into a multi-channel social-engineering suite. It launched an AI-powered vishing simulation module in June 2025, using AI-generated voices and adaptive dialogue to run phone-based attack training at scale, then released a smishing simulation module to all customers in October 2025 after a summer pilot with early adopters. Commercial traction has reached more than 1,000 client organizations and over 500,000 employees trained, per company disclosures, with sector solutions cited for financial services, insurance, crypto, call centers and retail.

Data refreshed weekly · Sourced from public filings