Paris-Based Cybersecurity Startup Riot Secures €28.9 Million to Drive Global Expansion

Riot, a cybersecurity platform headquartered in Paris, has raised €28.9 million in a Series B funding round to support its plans for product development, international expansion, and workforce growth. The company aims to double its employee count by 2026 and establish two new offices to extend its global reach.

Leading the investment round is the venture capital firm Left Lane Capital, with additional participation from existing backers, including Y Combinator, Base10, and FundersClub. With this latest round, Riot has amassed a total of €43.4 million in funding.

Benjamin Netter, co-founder and CEO of Riot, highlighted the evolving nature of cyber threats, stating, “Hackers are leveraging the latest innovations in artificial intelligence to create extremely targeted and sophisticated attacks capable of deceiving the most vigilant employees.” He emphasized the urgency of developing tools to combat these threats and revealed that Riot aims to safeguard over ten million employees globally by 2027.

Founded in 2020 at Y Combinator by Netter and Louis Cibot, the company has quickly scaled its operations, now protecting more than 1,500 organizations spanning multiple industries. Its client list includes names like Mistral AI, Y Combinator, Modern Treasury, L’Occitane, Deel, Intercom, and the French newspaper Le Monde. Riot reported over €9.6 million in annual revenue in 2024, marking yet another year of triple-digit growth.

The funding will be used to accelerate the company’s international presence and enhance its platform, which is designed to help businesses strengthen their employees' cyber defenses. Riot integrates directly with a company’s IT systems to evaluate potential security gaps among employees and offer practical recommendations for addressing these issues.

One of the core features of its platform is “Albert,” a cyber companion that delivers real-time, actionable suggestions via popular communication tools like Slack and Microsoft Teams. The company’s proactive approach is aimed at minimizing vulnerabilities such as weak authentication practices, which hackers commonly exploit in their attacks.

The rise of generative AI (GenAI) and the increasing availability of digital data have intensified the risk of personalized and highly deceptive phishing attempts. According to Riot, phishing attacks have surged by 1,265% in the past two years, posing a greater threat to employees who are often the first targets.

Matthew Miller, partner at Left Lane Capital, pointed to the financial and reputational damage that companies face due to cyber breaches, noting that, “Empowering your team with the right tools and knowledge is the best defense against these evolving threats.” He explained that Riot’s approach to employee-focused security training is critical as phishing attacks grow more sophisticated.

With this strategic backing, Riot is set to reinforce its position in the cybersecurity sector, helping businesses navigate the growing complexity of cyber threats.