"We are a very different company to Palantir,” says “discreet” French replacement

The managing director of a French startup, ChapsVision, which was recently selected by the country's intelligence services to replace the controversial US data analytics firm Palantir, has expressed dissatisfaction with being labeled as the "European Palantir." Silvano Sansoni, the managing director of the 2019-founded ChapsVision, emphasizes that their company is fundamentally different from Palantir, differing in values and operating on a distinct philosophy.

The shift away from Palantir was announced in June, following a contract signed by France's intelligence services, DGSI, in 2016, in response to the 2015 Bataclan attacks. This move is said to be aimed at avoiding strategic dependencies on foreign digital tools, particularly those developed by foreign powers, as called for by Prime Minister Sébastien Lecornu.

ChapsVision's contract, valued at approximately €10m, is expected to help the company launch and expand its presence in European governments, including those in Poland, Germany, Denmark, Switzerland, and Luxembourg. The company has already begun discussions with these governments regarding potential contracts. While ChapsVision is currently valued at around €200m in annual revenues, Palantir's valuation is around €3.9bn, with a much longer history of experience in government contracts.

Sansoni states that ChapsVision's pitch is centered around providing customers with control over their technology, thereby addressing sovereignty concerns. The startup, based in a Paris suburb and employing around 1,100 people, boasts a more modern security offering than Palantir. However, ChapsVision has acknowledged the potential for data leaks and emphasizes that being a sovereign solution provides a trusted provider for customer concerns.

The company's customer base is currently 65% French, 20% US, and the remaining 15% spread across Europe, Japan, and Singapore. Around 45% of ChapsVision's revenues come from government clients, with the rest coming from companies, including notable names such as Pfizer, Boeing, and Exxon Mobil. Founded by Olivier Dellenbach, a serial entrepreneur who has built ChapsVision through 29 acquisitions, the company aims to fully integrate its various businesses by 2027.

ChapsVision's long-term goal is to go public by 2030, with a target revenue of €1bn, ideally achieving this through a mix of acquisitions and organic growth.