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Cresco advised Smartfin and Forgepoint on its investment in Hadrian Security, the Amsterdam-based scale-up that uses AI to strengthen companies’ cyber security.
In a round of USD 40 million, Smartfin invests USD 16.7 million (approx. EUR 15 million) alongside Californian fund Forgepoint Capital and Hadrian’s existing shareholders. Hadrian is the sixth investment of Smartfin Capital III, Smartfin’s third growth fund.
Hadrian was founded in 2021 by former ethical hackers Rogier Fischer (CEO) and Olivier Beg. Its platform automates offensive security: AI agents map a client’s digital footprint and test its systems in a controlled way, finding vulnerabilities faster than a human team could. Hadrian has offices in Amsterdam, London and New York, employs around 90 people, and serves clients in Europe and the US such as McKesson, NBCUniversal, TotalEnergies and Amadeus.
Hadrian will use the new capital to speed up its international growth in Europe, the Middle East, Africa and the US, and to recruit more developers, hackers and AI specialists.
We congratulate all parties on the successful completion of this transaction and wish Hadrian every success in its next phase of growth.
We thank Harry Haeck and Saumitra Dubey (Smartfin), Jaime Goyarrola and Damien Henault (Forgepoint Capital) for the pleasant cooperation and trust in Cresco, and Maarten van Wijlen and Olivier Verleisdonk of Lexence, who acted as local Dutch counsel, for the excellent teamwork.
Cresco’s team consisted of Glenn L’hoëst, Rutger Duden, Ward Verwaeren, Axel Desmet and Elise Van Belleghem.
