Riot Secures $30 Million in Series B Funding to Transform Cybersecurity for Employees

Riot Secures $30 Million in Series B Funding

Introduction
In a significant development for the cybersecurity industry, Riot, a pioneering platform focused on employee protection against cyber threats, has successfully concluded a Series B funding round, attracting $30 million. This financing, spearheaded by Left Lane Capital, a well-known venture capital firm based in New York, brings Riot's total capital raised to an impressive $45 million.
The funds will primarily be directed towards enhancing the company's product offerings and extending its reach into international markets, further cementing its status as a leader in employee cybersecurity.

The Rising Threat of Cyberattacks

With the surge of generative AI technology, businesses are increasingly wary of the advanced tactics being employed by cybercriminals. The presence of openly accessible data online, combined with sophisticated AI tools, has enabled hackers to execute more targeted and deceptive attacks. Recent statistics highlight an alarming trend: phishing incidents have skyrocketed by a staggering 1,265% over the past two years.

As Benjamin Netter, Founder and CEO of Riot, pointed out, “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.” With a goal of safeguarding over ten million employees by 2027, Riot is positioning itself at the forefront of this battle.

Innovations in Cybersecurity: The Riot Approach

Riot’s platform distinguishes itself by transcending ordinary cyber awareness solutions, which often rely on outdated, generic training materials. Its innovative approach involves a comprehensive integration with an organization's IT ecosystem, enabling the platform to continuously assess employees’ cybersecurity practices. Riot identifies vulnerabilities in real-time, such as weak authentication measures, and provides tailored recommendations to users on how to rectify flaws promptly.

This proactive methodology not only enhances the security posture of employees but also complicates the attacker’s ability to exploit any gaps. For instance, Riot's companion tool, Albert, engages with employees via corporate communication channels like Slack or Microsoft Teams, offering actionable advice relevant to their current tasks. Matthew Miller, a Partner at Left Lane Capital, emphasized this unique approach, explaining, “Empowering your team with the right tools and knowledge is the best defense against these evolving threats.”

A Commitment to Growth and Expansion

Since its establishment in 2020, Riot has rapidly expanded its footprint, now protecting over 1,500 clients, including technology giants such as Mistral AI and Y Combinator, alongside established brands like L'Occitane and French newspaper Le Monde. Moreover, Riot has exceeded $10 million in annual revenue in 2024, showcasing substantial growth potential.
The recent financial influx is set to accelerate Riot’s international growth plans, with aspirations to open two new offices and double its current workforce over the next year, further solidifying its mission to protect employees in a digital landscape fraught with peril.

Conclusion

Riot's recent funding success heralds a new chapter for the company in its quest to revolutionize employee cybersecurity. By prioritizing proactive measures and education, Riot aims to empower organizations and equip their workforce against the evolving landscape of cyber threats. As cyber attacks escalate in sophistication, the need for innovative solutions like those from Riot becomes increasingly critical. For more information, you can visit their official website at tryriot.com.

About Riot
Riot is an innovative platform dedicated to real-time cybersecurity monitoring for employees. Established in 2020 at Y Combinator by Benjamin Netter (CEO) and Louis Cibot (CTO), Riot has raised a total of $45 million from various investors and currently serves organizations across diverse sectors.

About Left Lane Capital
Founded in 2019, Left Lane Capital operates in New York and London, investing in rapidly growing businesses with a strong emphasis on durable customer relationships, catering to the booming consumer and SMB markets.