French new company RIOT raised $ 10 million in annual sales in 2024 and raised the $ 30 million series B round. Originally focused on educating employees on cyber security risks, we now want to go one step further and minimize the attack surface for employees.
LEFT LANE CAPITAL is leading the round today with existing investors Y Combinator, Base10 and FundersClub. In what TechCrunch learned, Riot ‘S reached the evaluation after money to the north of $ 170 million following the series B round.
RIOT originally started with a fake phishing campaign. The staff regularly receive an email that looks like a real email. But they were designed to click on the link and to input personal information.
In this way, employees will find that they should be more suspicious of the incoming email. Over time, the company added other educational contents with a friendly security chatbot called Albert. You can access the Slack and Microsoft teams.
As RIOT interacts with a million employees from 1,500 companies, this strategy has worked well. The client includes L ‘Occitane, Deel, Intercom and Le Monde. (Two years ago, RIOT worked with 100,000 employees.)
Nevertheless, cyber events are still spreading. A recent example is Change HealthCare Data Break, which has influenced 190 million Americans and began with the credentials of consumer services. Employees reused the same password for a personal account and changed the Citrix portal of HealthCare. Citrix did not have a multi -scale certification.
That’s why RIOT wants to grow beyond education. “Our task is to see the staff’s attitude. Do they activate multiple certifications? Is there a safe code on your smartphone? Isn’t it too allowed to set up personal information in LinkedIn? Benjamin Netter, founder and CEO of Riot, told Techcrunch.
RIOT calls the next product a staff security posture management platform. Management of security at the employee level will be a central cockpit. There are many posture management solutions, but RIOT thinks employees have been ignored for too long.
It is a cyber security environment based on the company’s pitch deck.
“What we are making on the platform is that we will automatically analyze the security of the employees. And we will score. Netter said.
Riot then changes the settings to the staff and changes the settings here to enable multiple authentication. Netter said, “What you can do takes 1 to 2 minutes and basically it will make life difficult for hackers.
Employees’ security depends on cyber hygiene of personal devices and services, so this will be an interesting challenge to the riots. The phishing campaign also occurs in WhatsApp. LinkedIn profiles are also widely used for social engineering attacks.
That’s why this new security product will look similar to consumer products through wonderful animation and some game features.
“My long -term vision is to build employee security companies and provide all tools for employee security stacks. So someday, let’s take a viral vaccine or password manager. ”Netter said.
But first, in today’s financing round, the company has more cash to grow faster. The team plans to open a new office in other countries and increase the customer base to develop more sophisticated products.
