Source: www.securityweek.com – Author: Ionut Arghire
Employee-focused cyber-protection startup Riot this week announced raising $30 million in a Series B funding round that brings the total investment in the company to $45 million.
The new round was led by Left Lane Capital, with additional support from previous investors Base10, FundersClub, and Y Combinator.
Founded in 2020, the New York-based company seeks to help employees improve their cybersecurity posture and stay protected from social engineering attacks that are increasing in sophistication due to the use of generative AI.
Riot’s software solution integrates with an organization’s IT stack to assess the employees’ cyber posture, identify issues (such as weak authentication), and guide employees in resolving them.
The employee security posture management platform uses a cyber companion named Albert to relay the recommendations in real time using corporate communication tools.
According to Riot, this approach of proactively addressing shortcomings in employees’ cybersecurity posture is making it more difficult for hackers to mount successful attacks.
The cybersecurity firm says its solution is already protecting more than one million employees, as it has been adopted by over 1,500 organizations across multiple sectors.
The company will use the new investment to fuel product development and accelerate international expansion. It plans to open two new offices and double its employee base within one year.
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“Hackers are leveraging the latest innovations in artificial intelligence to create extremely targeted and sophisticated attacks capable of deceiving the most vigilant employees. We’re in a race against time to develop tools that will protect businesses from these new threats,” Riot founder and CEO Benjamin Netter said.
Related: Clutch Security Raises $20 Million for Non-Human Identity Protection Platform
Related: Frenos Raises $3.88M in Seed Funding for OT Security Assessment Platform
Original Post URL: https://www.securityweek.com/riot-raises-30-million-for-employee-cybersecurity-solution/
Category & Tags: Cybersecurity Funding,funding,Riot – Cybersecurity Funding,funding,Riot
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