Cybersecurity startup Riot secures $30m in Series B funding
Summary
French employee cybersecurity startup Riot has secured $30m (29m) in its Series B funding round led by Left Lane Capital.The funding round, which brings Riots total capital raised to $45m, also saw contributions from Y Combinator, Base10, and FundersClub.Riot is the real-time employee cybersecurity monitoring solution. The Riot platform is designed to allow cybersecurity teams to assess and enhance the cyber posture of their employees.Riots approach to cybersecurity involves chatbot interface, Albert, which can be accessed on Slack, Microsoft Teams, or via a web interface.Riot founder and CEO Benjamin Netter said: Hackers are leveraging the latest innovations in artificial intelligence to create extremely targeted and sophisticated attacks capable of deceiving the most vigilant employees.Were 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.Founded in 2020, Riot currently offers protection to more than 1,500 organisations across various sectors.Its clientele includes tech firms such as Mistral AI and Modern Treasury, as well as well-established companies like LOccitane and Le Monde.The proceeds will be used by Riot to advance the product development and international expansion efforts including the opening of two new offices and doubling its workforce within the next year.Left Lane Capital partner Matthew Miller said: "As AI technology continues to mature, phishing attacks will become more sophisticated, personalised, and harder to detect. 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.In 2023, Riot raised $12m in a Series A round, which focused on developing its all-in-one cybersecurity awareness platform for businesses and employees. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness.