Riot, an employee-focused cyber-protection software platform, announced a $30 million Series B financing round led by New York-based venture capital firm Left Lane Capital. The funding round brings Riot’s total raised capital to $45 million and includes participation from existing investors Y Combinator, Base10, and FundersClub.
This funding will advance Riot’s product development and international expansion, further solidifying its position as a market leader in employee cybersecurity.
With the emergence of generative AI, companies have become apprehensive about the enhanced capabilities of hackers. With the increase of publicly available data online, artificial intelligence enables malicious actors to create more personalized and realistic attacks designed to deceive collaborators. So, employees are increasingly vulnerable to cyber threats, as witnessed by the acceleration of phishing incidents, which have increased by 1,265% in the last two years.
Riot’s platform also goes beyond traditional cyber awareness solutions, which often rely on generic, unengaging training modules. By seamlessly integrating with an organization’s IT stack, Riot will assess employees’ cyber posture, detect potential vulnerabilities like the lack of strong authentication on specific services, and proactively guide employees in resolving these weaknesses. To do this, Riot will rely on its cyber companion Albert, which will share actionable recommendations in real time via corporate communication tools such as Slack or Microsoft Teams.
Since its founding in 2020, Riot has grown to protect more than 1,500 organizations across all sectors, including technology leaders like Mistral AI, Y Combinator, and Modern Treasury, and established enterprises such as L’Occitane, Deel, Intercom, and French newspaper Le Monde.
The company also surpassed $10 million in annual revenue in 2024, representing another year of significant triple-digit growth. And the new funding will accelerate Riot’s international expansion, with plans to open two new offices and double its current workforce within the next twelve months.
KEY QUOTES:
“Hackers are leveraging the latest innovations in artificial intelligence to create extremely targeted and sophisticated attacks capable of deceiving the most vigilant employees. We’re in a race against time to develop tools that will protect businesses from these new threats. Our goal with Riot is to protect more than ten million employees by 2027.”
- Benjamin Netter, Founder and CEO of Riot
“As AI technology continues to mature, phishing attacks will become more sophisticated, personalized, and harder to detect. Empowering your team with the right tools and knowledge is the best defense against these evolving threats. Riot’s innovative approach focuses on employees as the first line of defense against cyber attacks. The cost of a data breach or cyberattack has significant financial and reputational implications for companies, making these training and prevention tools a necessity now more than ever.”
- Matthew Miller, Partner at Left Lane Capital
