Cosmian
Cosmian is a Paris-based deeptech company founded in 2018 that provides a confidential data protection suite — KMS, verifiable confidential VM, encrypted search, and post-quantum encryption — serving large enterprises, cloud-native SaaS providers, regulated firms, and financial institutions through AWS, Azure, and GCP marketplaces.
- Company typePrivate
- Founded2018
- HeadquartersParis, France
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Cosmian does
Cosmian is a Paris-based deeptech company founded in 2018 by Sandrine Murcia (CEO) and Bruno Grieder (CTO) that builds a Confidential Data Intelligence Platform powered by next-generation cryptography. Its Data Protection Suite comprises Cosmian KMS (a modern key management system with KMIP, FIPS 140-3 algorithms, and HSM integration), Cosmian VM (a verifiable confidential virtual machine supporting AMD SEV-SNP, Intel TDX/SGX, TPM, and vTPM), Cosmian AI (confidential execution of generative AI models), Cosmian Findex (encrypted searchable index), and Cosmian Covercrypt (post-quantum hybrid encryption with KEMAC access-control policies, standardized as ETSI TS 104 015 in February 2025). The technology targets the gap between cloud-provider-controlled encryption and true customer-side data sovereignty, including post-quantum and confidential-AI workloads.
The company sells primarily through three hyperscaler marketplaces (AWS, Azure, GCP) and direct enterprise field sales, packaged as software subscriptions with quote-based pricing. Customer segments are large organizations operating multi-cloud or zero-trust environments, cloud-native SaaS companies needing client-side encryption, regulated enterprises with mandatory HSM requirements (Operators of Vital Importance), and financial institutions. Strategic partnerships with Utimaco and Eviden (Atos Group) anchor the HSM-integrated sovereign offering, while academic collaborations with ENS, KU Leuven COSIC, INRIA, and CNRS underpin the research base.
As of 2025, Cosmian operates with approximately 15-20 employees and has raised a total of approximately €6 million across a March 2019 round and a June 2022 €4.2M seed led by Elaia and La Banque Postale. No institutional investors beyond the seed round are disclosed. Revenue, ARR, and Series A financing have not been publicly disclosed, so commercial scale remains unverified despite a strong technology, standards, and partnership profile.
Cosmian firmographics
Firmographics- Name
- Cosmian
- Legal name
- Cosmian Tech SAS
- Website
- https://cosmian.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Cosmian is a Paris-based deeptech company founded in 2018 that provides a confidential data protection suite — KMS, verifiable confidential VM, encrypted search, and post-quantum encryption — serving large enterprises, cloud-native SaaS providers, regulated firms, and financial institutions through AWS, Azure, and GCP marketplaces.
- Ownership category
- akta.pro rank
Cosmian industry classification
Industry- Product category
- Cloud Data Security Software
- NAICS
- Computer Systems Design and Related Services (54151), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518210)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- Key Management, Encryption & Secrets Management (KMS/HSM/Vault) (HDABAHAG)
- akta.pro secondary industries
- Confidential Computing & Hardware-backed Protection (TEE/HSM) (HDADAFAJ), Quantum-Safe PKI, Key Management & HSMs (HDAGAGAE), Secrets Management & Cloud Key Management (KMS, Vaults) (HDADADAK), Secrets Management (Passwords, API Keys, Tokens) (HDADAFAD)
Keywords
Where Cosmian is headquartered
LocationHeadquarters
- HQ city
- Paris
- HQ country
- France
- HQ region
- Europe
Offices1 record
Markets served
Cosmian business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Software Licenses and Subscriptions: Software licensing model for data protection suite products including KMS, VM, AI, and encryption libraries. Available through cloud marketplaces (AWS, Azure, GCP) as well as direct deployment. Products packaged as confidential VMs with built-in verification.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Contact sales for pricing |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
Cosmian product offering
Product offeringCore offering
Cosmian sells a Data Protection Suite powered by next-generation cryptography, including a Key Management System (KMS), a verifiable confidential virtual machine (VM), a confidential AI runner, an encrypted searchable index (Findex), and a post-quantum encryption library (Covercrypt). The suite enables organizations to secure data in use and at rest in public cloud environments through client-side encryption, confidential computing, and post-quantum hybrid cryptography. Solutions are available as cloud marketplace offerings on AWS, Azure, and GCP, as well as on-premises deployments integrated with certified HSMs.
Product overview
Cosmian offers a comprehensive Data Protection Suite powered by next-generation cryptography to secure data in use and at rest in public cloud environments. The suite comprises Cosmian KMS (modern key management system), Cosmian VM (verifiable confidential virtual machine), Cosmian AI (confidential AI runner), Cosmian Findex (encrypted searchable index), and Cosmian Covercrypt (post-quantum hybrid encryption library). All components are available on AWS, Azure, and Google Cloud marketplaces and support FIPS 140-3 certified cryptographic algorithms including AES-256-GCM, CRYSTALS-Kyber, and elliptic curves.
Differentiator
Problem solved
Functional benefit
Brands
- Cosmian KMS: Modern Key Management System - a centralized application to manage encryption/decryption processes, keys, and certificates
- Cosmian VM
- Cosmian AI
- Cosmian Findex
- Cosmian Covercrypt
Products and services
- Cosmian KMS A modern, centralized, open-source Key Management System for managing encryption/decryption processes, keys, and certificates. Supports KMIP, FIPS 140-3 certified algorithms (AES-256-GCM, CRYSTALS-Kyber), HSM integration (Utimaco, Eviden), and BYOK patterns on AWS, Azure, and GCP. Targets enterprises requiring client-side sovereignty over their encryption keys.
- Cosmian VM A verifiable confidential virtual machine providing cryptographic integrity control of hardware and software environments in the public cloud. Supports AMD SEV-SNP, Intel TDX, TPM, and vTPM, with continuous snapshot verification to detect unauthorized modifications. Enables organizations to deploy sensitive applications in public clouds with end-to-end integrity assurance.
- Cosmian AI A confidential AI execution environment that runs within Cosmian VM, enabling deployment, querying, and fine-tuning of AI models on confidential datasets. Supports generative AI workloads for text translation and summarization with full encryption, and offers API integrations via Word and Chrome plugins.
- Cosmian Findex An encrypted searchable index library enabling keyword and semantic search over encrypted databases. Indexes are stored on the Findex server while encryption keys remain with the user; queries and results stay encrypted end-to-end. Designed for organizations needing to query data lakes and databases without exposing plaintext.
- Cosmian Covercrypt A high-performance post-quantum hybrid encryption library based on the KEMAC scheme, providing fine-grained data partitioning with hierarchical and non-hierarchical access policy axes. Combines pre-quantum (AES 256, elliptic curves) and post-quantum (CRYSTALS-Kyber) algorithms. Standardized as ETSI TS 104 015 in February 2025.
- Cosmian Enclave A secure microservice framework that uses Intel SGX and Gramine-SGX to deploy Python web microservices within confidential environments. Enables developers to run sensitive microservices in Trusted Execution Environments (TEEs) with memory encryption.
Quantifiable outcome
- Encryption/decryption speed of <300 microseconds (0.0003 seconds) for ciphertext per partition
- +3 more outcomes
Companies that use Cosmian
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles3 records
Cosmian technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration33 records
AI capability3 records
Feature6 records
Cosmian partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered strategic, academic and technology.
- Eviden (Atos Group)strategicStrategic partnership announced April 1, 2025 at International Cybersecurity Forum (FIC). Combines Eviden's sovereign HSMs (Trustway Proteccio) with Cosmian's high-performance crypto-agile KMS. Offers 100% sovereign encryption key management solution for cloud, hybrid, or on-premises environments.
- UtimacostrategicStrategic partnership announced February 18, 2025 integrating Cosmian KMS with Utimaco Hardware Security Modules (HSMs). Provides combined solution leveraging robust physical security of HSMs with agility and high performance of Cosmian KMS. Keys stored in wrapped form secured by HSM wrapping keys. Utimaco is BSI-qualified HSM manufacturer and FIPS-certified.
- ENS (École Normale Supérieure)academicAcademic partnership with ENS Cryptographic Lab for Covercrypt development. World-renowned cryptography research institution.
- KU Leuven COSICacademicAcademic partnership with COSIC (Computer Security and Industrial Cryptography) research group. Includes advisor Nigel Smart, Professor at KU Leuven.
- INRIAacademicFrench national research institute for digital science. David Pointcheval previously headed INRIA CASCADE crypto team.
- CNRSacademicFrench National Centre for Scientific Research, major research organization collaborating on cryptography research.
- AWS (Amazon Web Services)technologyTechnology integration partner with Cosmian products available on AWS Marketplace. Supports ECS Fargate, External Key Store (XKS), BYOK, and confidential computing on AWS.
- Google CloudtechnologyTechnology partnership with products on Google Cloud Marketplace. Supports CMEK and CSEK integrations.
- Microsoft AzuretechnologyTechnology partnership with products on Azure Marketplace. Supports BYOK, EKM, Microsoft 365 DKE, and Windows CNG KSP.
- AMDtechnologyHardware partner supporting AMD SEV-SNP for confidential computing within Cosmian VM.
- InteltechnologyHardware partner supporting Intel TDX and SGX technologies for confidential computing.
- NVIDIAtechnologyGPU hardware partnership for confidential AI computing capabilities.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Cosmian competitors and assessment
Company assessmentBroad incumbents
- AWS Key Management Service: AWS KMS is the bundled hyperscaler-native key management service, and is the primary alternative Cosmian must displace for cloud workloads. Cosmian explicitly supports BYOK/XKS integration into AWS KMS, positioning them as complementary but also substitutable.
- Azure Key Vault: Azure Key Vault is Microsoft's bundled key management and secrets service. Cosmian supports BYOK, EKM, and Microsoft 365 Double Key Encryption on top of Azure Key Vault, positioning them as both a complement and a competitor depending on the buyer.
- Utimaco: Utimaco is a leading HSM vendor and a strategic Cosmian partner; it also sells its own key management and post-quantum security offerings, making it both a channel partner and a potential competitor in the regulated-enterprise KMS space.
- Thales: Thales (formerly Gemalto) is the largest incumbent in HSMs and enterprise data protection (Luna HSM, CipherTrust Data Security Platform). It competes broadly with the Cosmian stack across KMS, HSM integration, and post-quantum migration.
Direct peers
- Enveil: Enveil provides secure search, analytics, and AI over encrypted data using FHE and secure enclaves — directly comparable to Cosmian Findex (encrypted search) and confidential AI use cases.
- Inpher: Inpher provides confidential computing and privacy-preserving analytics using secure enclaves and cryptographic techniques — directly comparable to Cosmian VM and Cosmian AI for regulated enterprise workloads.
- Zama: Zama builds open-source fully homomorphic encryption (FHE) and confidential AI tooling — directly overlapping with Cosmian's confidential AI and Covercrypt/Findex research agenda. Both target public-cloud data-in-use protection with novel cryptography.
- HashiCorp: HashiCorp Vault is the dominant open-source secrets management and KMS platform, directly overlapping with Cosmian KMS across cloud key management, secrets, and certificates. Vault is the most credible open-source alternative in Cosmian's primary wedge.
Emerging players
- TripleBlind: TripleBlind delivers privacy-preserving computation and analytics, partially overlapping with Cosmian's confidential AI and searchable encryption value proposition for regulated data collaboration.
- Opaque Systems: Opaque offers a confidential AI platform built on secure enclaves and cryptographic compute, overlapping with Cosmian AI and Cosmian VM in the confidential-AI category. Targets similar regulated enterprise buyers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Cosmian social profiles
Digital presenceCosmian compliance and trust
Trust signalCompliance1 record
Cosmian financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cosmian leadership team
Management profileNumber of profiles
Profiles6 records
Cosmian funding detail
Funding detailFunding overview
Funding rounds2 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cosmian M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cosmian
What does Cosmian do?
Cosmian sells a Data Protection Suite powered by next-generation cryptography, including a Key Management System (KMS), a verifiable confidential virtual machine (VM), a confidential AI runner, an encrypted searchable index (Findex), and a post-quantum encryption library (Covercrypt). The suite enables organizations to secure data in use and at rest in public cloud environments through client-side encryption, confidential computing, and post-quantum hybrid cryptography. Solutions are available as cloud marketplace offerings on AWS, Azure, and GCP, as well as on-premises deployments integrated with certified HSMs.
Is Cosmian a public or private company?
Cosmian is a private company. It is classified as venture growth investor backed and is currently operating.
When was Cosmian founded?
Cosmian was founded in 2018. It employs 11 to 50 people.
Where is Cosmian based?
Cosmian is headquartered in Paris, France, in the Europe region.
How does Cosmian make money?
One revenue line is on record: software Licenses and Subscriptions.
Who are Cosmian's main competitors?
Broad incumbents on record are AWS Key Management Service, Azure Key Vault, Utimaco and Thales. Direct peers are Enveil, Inpher, Zama and HashiCorp. Emerging players are TripleBlind and Opaque Systems.
Does Cosmian have an API?
Yes. Cosmian KMS exposes a KMIP (Key Management Interoperability Protocol) REST API with JSON TTLV encoding. Supports PKCE authentication, bulk mode operations with messages, and comprehensive KMIP operations including create, create_key_pair, encrypt, decrypt, sign, hash, mac, re_key, revoke, destroy, locate, get, import, export, certify, and attribute get/set/modify/delete. OpenAPI specification and Swagger UI available. Developer documentation is at docs.cosmian.com/kmip_support/openapi.
What industry is Cosmian in?
Cosmian's product category is Cloud Data Security Software. Its primary akta.pro industry code is HDABAHAG, Key Management, Encryption & Secrets Management (KMS/HSM/Vault), with a secondary code of HDADAFAJ, Confidential Computing & Hardware-backed Protection (TEE/HSM). Its NAICS code is 54151 and its SIC code is 7372.