French startup Riot has successfully secured a substantial $30 million in a Series B funding round, pushing its post-money valuation to over $170 million. This round, led by Left Lane Capital, saw participation from existing investors, including industry heavyweights Y Combinator, Base10, and FundersClub. The funding comes on the heels of Riot achieving an impressive $10 million in annual revenue in 2024, a significant milestone that underscores its growing influence in the cybersecurity sector.

 

From Phishing Tests to Proactive Security

Initially, Riot gained traction for its innovative approach to training employees about cybersecurity threats through simulated phishing campaigns. By sending realistic-looking emails designed to trick employees into revealing personal information, Riot helped workers become more vigilant about suspicious emails. This educational strategy was further enhanced with the introduction of a friendly security chatbot named Albert, available on platforms like Slack and Microsoft Teams.

 

Today, Riot engages with over 1 million employees across 1,500 companies, a substantial leap from just 100,000 a couple of years ago. Major clients include notable names such as L’Occitane, Deel, Intercom, and Le Monde, indicating the broad appeal and effectiveness of its services.

 

Addressing the Rising Cyber Threat Landscape

Despite the strides made in employee education, cyber incidents continue to escalate. A recent high-profile example is the Change Healthcare data breach, which impacted a staggering 190 million Americans due to compromised credentials linked to an employee’s reused password. This incident highlights the urgent need for enhanced cybersecurity measures, as traditional training methods may not be sufficient in the face of evolving threats.

 

Recognizing this gap, Riot aims to extend its services beyond basic education. Founder and CEO Benjamin Netter articulated this vision, stating, "Our job is to look at employees’ posture. Do they activate multifactor authentication? Do they have a secure code on their smartphone? Are their privacy settings on LinkedIn not too permissive?" These measures are crucial for creating a robust defense against potential hackers.

 

Introducing Employee Security Posture Management

Riot's next significant offering is its Employee Security Posture Management platform, designed to serve as a central hub for managing individual employee security. While many solutions exist in the posture management space, Riot positions itself uniquely by focusing on employees, who have often been overlooked in corporate security strategies.

 

The platform will automatically assess employees' security configurations and assign them a "karma score," which serves as a benchmark of their cybersecurity readiness. This score will be complemented by personalized nudges to encourage employees to make small yet impactful security adjustments, such as enabling multifactor authentication or tightening privacy settings on personal accounts.

 

Gamifying Security Improvements

To enhance user engagement, Riot intends to incorporate gamification elements into its new product. The platform will feature appealing animations and rewards to motivate employees to elevate their security posture. Netter envisions a future where Riot expands its offerings to include tools that cover the entire employee security stack, suggesting the possibility of developing products such as antivirus software or password managers.

 

Future Plans and Growth Trajectory

The recent funding will not only facilitate the launch of this innovative platform but will also enable Riot to scale up operations and expand its global footprint. Plans are underway to establish new offices in different countries and broaden the client base, setting the stage for the development of more sophisticated cybersecurity tools.

 

As cybersecurity threats continue to evolve, Riot is poised to play a pivotal role in safeguarding organizations by fostering a culture of security awareness among employees. With its fresh capital and ambitious vision, Riot is well-equipped to meet the challenges of the future, ensuring that businesses can thrive in a secure digital environment.