What eshard does

eShard is a French cybersecurity company founded in 2015 and headquartered in Martillac, France, that builds tools and provides expert services for security investigations of mobile, connected, and embedded devices. Its core offering is a two-platform architecture: esReverse for software security investigations (full-system emulation, Time Travel Debugging for Intel, Arm, and Firmware targets, and iOS/Android virtual devices) and esDynamic for hardware security investigations (Side-Channel Analysis, electromagnetic and laser fault injection, glitch fault injection, and photonic emission), with esFirmware extending the platform to pre-silicon testing across Intel, Arm, and RISC-V binaries. Underlying technology is built on an extended QEMU emulation engine and is driven through a Python and JupyterLab environment, with domain expertise packaged as knowledge modules (Post-Quantum Cryptography, SCA Advanced, SCA Deep Learning, FI Advanced, Intel Advanced Techniques, IoT Use Cases).

eShard monetizes through multi-year subscription licenses for esReverse and esDynamic, standalone esFirmware subscriptions, and recurring professional services revenue from security assessments and hands-on training. Customers are concentrated in semiconductors (Qualcomm, STMicroelectronics), defense and aerospace (Thales, European Space Agency), Big Tech and reinsurance (Google, Munich Re), testing and inspection (DEKRA), and the post-quantum cryptography supply chain (PQShield, Ansys). Distribution is entirely direct enterprise sales with no resellers or marketplaces; lead generation flows through technical content (blog posts, webinars, conference presence including Hardwear.io and Insomni'hack) into 'Request a demo' and 'Talk to our team' CTAs. The company operates as a global provider, governed by GDPR and French Data Protection Act, with an 11-50 employee headcount band and a management team led by founders Hugues Thiebeauld (CEO), Georges Gagnerot (CTO), and Jean-Luc Treillou (Co-founder), supported by CBO Jean-Luc Khaou and an expanded Strategic Committee.

Name

eshard

Legal name

eShard

Website

https://eshard.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

eshard builds esReverse (software) and esDynamic (hardware) security investigation platforms with QEMU-based emulation, Time Travel Debugging, and side-channel and fault injection tools, serving semiconductor, defense, government, automotive, and IoT customers globally with subscription licenses and security assessment services.

Ownership category

akta.pro rank

Product category

Cybersecurity Software

NAICS

Computer Systems Design and Related Services (5415), Other Computer Related Services (541519)

SIC

Services-Prepackaged Software (7372), Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

IT Governance, Risk & Compliance (IT GRC) Platforms (HDAEALAK)

akta.pro secondary industry

Electronic Warfare (EW) & SIGINT/ELINT Systems (IMABAGAB)

Keywords

• Hardware security testing
• Side-channel analysis
• Fault injection testing
• Time travel debugging
• Post-quantum cryptography

Headquarters

HQ city

Martillac

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations

Revenue model

1. Software Platform Licenses (esReverse): Annual or multi-year licensing of esReverse software security investigation platform, including Time Travel Debugging and emulator capabilities. Sold as enterprise seats or platform subscriptions.
2. Hardware Security Platform (esDynamic): Annual or multi-year licensing of esDynamic hardware security platform, including lab equipment integration, SCA/FI modules, and expertise modules.
3. Security Assessment Services: Tailored security assessments using proven methodologies and tools. Includes software security assessment, hardware security assessment in high-end lab facilities, and team training.
4. Training & Coaching: Hands-on training in reverse engineering and hardware security testing, delivered as instructor-led or custom coaching engagements.
5. Pre-Silicon Testing Tool (esFirmware): Standalone pre-silicon testing tool for evaluating software binaries against physical attacks, sold as part of the platform or independent tool.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

eShard provides a complete platform for security investigations of digital objects, combining the esReverse software security platform (reverse engineering, time travel debugging, full-system emulation), the esDynamic hardware security platform (side-channel analysis, fault injection, lab equipment control), and the esFirmware pre-silicon testing tool. The company also delivers professional services including software/hardware security assessments and hands-on training and coaching for enterprise security teams.

Product overview

eShard provides a complete platform for security investigations of digital objects, combining software and hardware security analysis tools with expert knowledge modules and professional services. The portfolio centers on two core platforms: esReverse for software security investigations including time travel debugging and full-system emulation, and esDynamic for hardware security testing covering side-channel analysis and fault injection. Supporting tools include esFirmware for pre-silicon testing. Turnkey lab capabilities support Side Channel Analysis, EM Fault Injection, Laser Fault Injection, Glitch Fault Injection, and Photonic Emission. Knowledge modules cover PQC, SCA Advanced, SCA Deep Learning, FI Advanced, Intel Advanced Techniques, and IoT Use Cases. Professional services include Software Security Assessment, Hardware Security Assessment, and Security Training & Coaching.

Differentiator

Problem solved

Functional benefit

Products and services

• esReverse Platform Collaborative platform for software reverse engineering and security investigations featuring Time Travel Debugging, full-system emulation for Windows, Linux, and Android, iOS and Android virtual devices, knowledge modules, and integrations with reverse-engineering frameworks such as Binary Ninja. Sold to enterprise security teams.
• esDynamic Platform All-in-one collaborative platform for hardware security investigations enabling side-channel analysis, fault injection testing (EM, laser, glitch), lab equipment control and remote lab orchestration, knowledge modules (PQC, SCA Advanced, SCA Deep Learning, FI Advanced), and an attack catalogue with ready-to-use scripts. Sold to enterprise security teams in semiconductor, automotive, IoT, and government/defense sectors.
• esFirmware Pre-silicon testing tool built on an extended QEMU emulator for evaluating software binaries against physical attacks including side-channel analysis and fault injection. Supports Intel (x86/x64), Arm (Arm32/Arm64) and RISC-V binaries and is driven from a Python and JupyterLab environment.
• Software Security Assessment Professional service using eshard's proven methodologies and tools to assess software security, identify bugs and vulnerabilities, and validate protections. Delivered to enterprise clients.
• Hardware Security Assessment Professional service performing device security evaluations in eshard's high-end lab facilities, with fully owned and reproducible results. Targeted at semiconductor, automotive, IoT, and government/defense clients.
• Security Training and Coaching Hands-on training service in reverse engineering and hardware security testing delivered as instructor-led sessions or tailored coaching for enterprise security team skill development.

Quantifiable outcome

• Fault injection campaign covering 65,000 instructions × 15 registers × 2 fault models = 1,820,000 executions completed in 6 hours using multi-processing optimization
• +4 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability5 records

Feature9 records

Partnerships

Five partnerships are on record, tiered core.

• DEKRAcoreStrategic or Co-development Partner · 1 February 2026eShard collaborated with DEKRA, a global leader in testing, inspection and certification (TIC) services, to build a new SoC cybersecurity laboratory. Using the esDynamic platform, DEKRA's lab combines Side-Channel Analysis (SCA) and Electromagnetic Fault Injection (EMFI) in a modular environment. eShard provided the platform, workflow design, probe positioning guidance, timing alignment, and tailored training to help DEKRA engineers develop their own test routines.
• PQShieldcoreStrategic or Co-development Partner · 1 November 2025Active collaboration between PQShield (post-quantum cryptography IP provider) and eShard to assess the side-channel security of PQShield's ML-KEM hardware IP. eShard performed independent black-box evaluation using the 'Reverse method' to validate first-order SCA resistance of protected IP. The collaboration confirmed the effectiveness of PQShield's countermeasures and includes sharing of executable notebooks for further analysis by PQShield.
• AnsyscoreStrategic or Co-development Partner · 1 September 2024Collaboration integrating Ansys RedHawk-SC Security (physics simulation engines for power integrity and EMI) with eShard's side-channel attack testing tools. The combined solution enables pre-silicon security testing of semiconductor designs, allowing chip designers to evaluate side-channel vulnerabilities during design phases before chip production. Both pre-silicon and post-silicon testing approaches are offered together.
• European Space Agency (ESA)coreStrategic or Co-development PartnerESA is listed as a trusted partner/customer of eShard. eShard built a new Hardware Security Laboratory for ESA. The collaboration enables ESA to perform comprehensive hardware security evaluations using eShard's esDynamic platform for side-channel analysis and fault injection testing on space-related hardware systems.
• ExpertiseLabcoreStrategic or Co-development PartnerExpertiseLab, a cybersecurity evaluation firm, works with eShard to enhance their semiconductor cybersecurity evaluations. The collaboration enables ExpertiseLab to better support global manufacturers in developing trustworthy, compliant connected products.

Scale indicators1 record

Recent moves6 records

Expansion highlights6 records

Others

• PQShield: PQShield is a post-quantum cryptography IP and software provider whose ML-KEM hardware IP is validated using eShard's esDynamic platform (announced collaboration Nov 2025). An ecosystem collaborator and complementary vendor rather than direct competitor.

Direct peers

• Riscure: Riscure is a Dutch-based security testing company providing side-channel analysis, fault injection, and software security evaluation tools and lab services for chip manufacturers, mobile device vendors, and payment/smart-card industries. Directly comparable to eShard in terms of products (Inspector toolsuite), verticals served (semiconductor, government, payments), and service-based revenue model.
• NewAE Technology (ChipWhisperer): NewAE Technology designs and sells the ChipWhisperer platform, an open-source and commercial hardware toolchain for side-channel power analysis and glitching attacks on embedded devices. Closest direct competitor to eShard's esDynamic platform in the embedded hardware security testing category, with overlap on capture hardware and FPGA-driven trace acquisition.
• SGS Brightsight: SGS Brightsight is a security evaluation laboratory that performs Common Criteria, EMVCo, and hardware-side-channel testing for chip vendors and payment terminal makers. Comparable to eShard's professional services arm and lab-based evaluation offerings, and a buyer of similar toolsets for in-lab assessments.
• UL Solutions (Security Lab): UL Solutions operates a global security and compliance lab network offering hardware and IoT security testing, certification, and evaluation services. Comparable to eShard's hardware security assessment and lab offerings for IoT, automotive, and semiconductor customers.

Emerging players

• Tortuga Logic: Tortuga Logic provides pre-silicon hardware security verification tools for detecting information leakage and security vulnerabilities in chip designs before fabrication. Directly comparable to eShard's esFirmware pre-silicon testing value proposition and partnership with Ansys RedHawk-SC.
• GLitch (Security Research Tools): Open-source and academic projects such as ChipWhisperer-style glitching frameworks and voltage fault injection boards (ChipShouter) offer low-cost alternatives for embedded side-channel testing. Represents the democratized attack tooling threat that eShard's value proposition explicitly addresses.

Broad incumbents

• Keysight Technologies: Keysight is a large test and measurement vendor with a security and IoT solutions portfolio covering device vulnerability research and fuzzing (e.g., BreakingPoint, Packet Brokers). Overlaps with eShard's hardware security testing use cases through shared lab equipment customer base (Rohde & Schwarz oscilloscopes, etc.) and broader security testing footprint.
• Cadence Design Systems: Cadence is a leading EDA and IP vendor with security features embedded in its design tools and verification platforms. Competes with eShard's pre-silicon and hardware security testing positioning through its broader chip design and verification suite used by mutual semiconductor customers.
• Synopsys: Synopsys is a major EDA and semiconductor IP vendor with a growing portfolio in hardware security, silicon design security verification, and software security testing. Competes with eShard's pre-silicon testing positioning through tools in its Silicon Design Security suite and broader DesignWare security IP.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/eshardnews

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about eshard