€420kARR
+6.2% MoM · +180.0% since Nov 25
Ione
Back to the book
Controls for what an agent is allowed to do with a company’s tools.
London · Security
1.00xhealthy
€280k / moNet burn
Implied cash €5.32m
19 moRunway
Outside the nine-month line
11People
NRR 100% · GM 70%
Marked at cost until the first boardinfo
Closed 2 September 2026. Eleven people. The November board is the first time we should learn anything that changes a mark.
Suggested action. Hold the mark. Use the board to agree the two metrics that will matter in March: paid design partners converting, and time-to-policy on a new tool.
ARR
€m, monthly
Net burn
€m per month
Monitoring note
Ione is the security layer we said would show up once agents left the demo. It is too new to praise. The memo of record is the investment memo, not this page. Keep the operating cadence boring.
Entry
- Date
- 2 Sept 2026
- Round
- Seed
- Ownership
- 19.2%
- Cost
- €8m
- Fair value
- €8m
- Reserve left
- €3m
- Partner
- Elena Voss
- Rights
- Board seat