Riot, a Paris-based cybersecurity software platform, announced today a €28.9 million Series B financing round to fuel product development, open two new offices, and double headcount by 2026.
The funding round was led by venture capital firm Left Lane Capital. This funding brings Riot’s total raised capital to €43.4 million and includes participation from existing investors Y Combinator, Base10, and FundersClub.
“Hackers are leveraging the latest innovations in artificial intelligence to create extremely targeted and sophisticated attacks capable of deceiving the most vigilant employees,” said Benjamin Netter, Founder and CEO of Riot. “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.”
Since being founded in 2020 at Y Combinator by Benjamin Netter and Louis Cibot, Riot has grown to protect more than 1,500 organisations across various sectors, including customers such as Mistral AI, Y Combinator, and Modern Treasury, as well as L’Occitane, Deel, Intercom, and French newspaper Le Monde. The company has also surpassed €9.6 million in annual revenue in 2024, representing another year of significant triple-digit growth.
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.
The Riot platform enables cybersecurity teams in companies of all sizes to assess and improve the cyber posture of their employees, making them the “first line of defense against hackers“.
According to Riot, the rapid emergence of GenAI and the proliferation of publicly available digital data, has made companies increasingly apprehensive about the enhanced capabilities of hackers. AI has enabled these malicious actors to create more personalised and realistic attacks designed to deceive collaborators. As a result, employees are increasingly vulnerable to cyber threats, as witnessed by the acceleration of phishing incidents, which have increased 1,265% in the last two years – as per Riot.
By seamlessly integrating with an organization’s IT stack, Riot will assess employees’ cyber posture, detecting potential vulnerabilities — such as the lack of strong authentication on certain services, and will 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.
This approach is designed to complicate life for hackers, who rely on shortcomings in employee security posture to launch successful attacks.
“As AI technology continues to mature, phishing attacks will become more sophisticated, personalized, and harder to detect. Empowering your team with the righttools and knowledge is the best defense against these evolving threats,” said Matthew Miller, Partner at Left Lane Capital. “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.”
Read the orginal article: https://www.eu-startups.com/2025/02/cybersecurity-startup-riot-raises-e28-9-million-to-expand-globally-and-double-headcount-by-2026/
