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French startup Riot has secured a $30 million Series B round of funding after achieving $10 million in annual revenue in 2024. Initially focused on educating employees about cybersecurity risks, the company now aims to further encourage employees to minimize their attack surface.
Leading the current funding round is Left Lane Capital, with existing investors Y Combinator, Base10, and FundersClub also participating. Following the Series B round, Riot’s post-money valuation has exceeded $170 million.
The company began by conducting fake phishing campaigns, sending emails that resembled real ones to test employees’ susceptibility to clicking on links and entering personal information. Over time, Riot introduced additional educational content, including a security chatbot named Albert accessible on Slack and Microsoft Teams.
Currently engaging with 1 million employees across 1,500 companies, Riot’s clientele includes L’Occitane, Deel, Intercom, and Le Monde. Despite its efforts, cyber incidents continue to rise, as demonstrated by the Change Healthcare data breach affecting 190 million Americans due to compromised credentials.
To address these challenges, Riot plans to expand its offerings beyond employee education with the introduction of an Employee Security Posture Management platform. This platform will serve as a central hub for managing security at the employee level, focusing on factors such as multifactor authentication and privacy settings.
Founder and CEO Benjamin Netter emphasizes the importance of enhancing employees’ security posture to deter hackers. By analyzing employees’ security and providing a karma score to indicate their posture, Riot will guide employees in making necessary security adjustments.
Riot’s long-term vision includes building a comprehensive employee security company, potentially developing tools such as antivirus software and password managers. With the recent funding round, the company plans to expand globally, increase its client base, and launch more advanced products to meet evolving cybersecurity needs.
