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Feb 03, 2025, 08:00 ET
NEW YORK, Feb. 3, 2025 /PRNewswire/ — Riot, an employee-focused cyber-protection software platform, announced today a $30 million Series B financing round led by New York-based venture capital firm Left Lane Capital. This investment will fuel Riot’s product development and international expansion, further solidifying its position as a market leader in employee cybersecurity. The funding round brings Riot’s total raised capital to $45 million and includes participation from existing investors Y Combinator, Base10, and FundersClub.
With the rapid emergence of generative AI, companies are increasingly apprehensive about the enhanced capabilities of hackers. Combined with the proliferation of publicly available data online, artificial intelligence enables malicious actors to create more personalized 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.1
“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.“
Riot’s platform 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, 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 proactive 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 right tools 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.”
Since being founded 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, as well as established enterprises such as L’Occitane, Deel, Intercom, and French newspaper Le Monde. The company has also surpassed $10 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.
About Riot
Riot is the first real-time employee cybersecurity monitoring solution. 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.
Founded in 2020 at Y Combinator by Benjamin Netter (CEO) and Louis Cibot (CTO), Riot has now raised a total of $45 million in capital from Frst Capital, FundersClub, Base10, Left Lane and business angels such as Guy Podjarny (founder of Snyk) and Severin Hacker (co-founder of Duolingo).
For more information, visit tryriot.com.
About Left Lane Capital
Founded in 2019, Left Lane Capital is a New York- and London-based global venture capital and growth equity firm investing in hyper-growth consumer and SMB businesses with enduring customer relationships. Left Lane’s mission is to partner with extraordinary entrepreneurs who create category-defining companies across growth sectors of the economy. Select investments include GoStudent, Choco, Wayflyer, Mentorshow, La Belle Vie, Bilt Rewards, Blank Street, M1 Finance, Animaj, Kings League, Holy, Kittl, and more.
For more information, visit leftlane.com.
SOURCE Riot