Spanish cybersecurity startup IriusRisk raises $29M

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Spanish cybersecurity startup IriusRisk raises $29M
©  IriusRisk

Current threat modeling methods are labor-intensive and require constant manual intervention. They’re also expensive and take a significant amount of time to complete. This makes threat modeling an annoying hassle for already overworked techies. Consequently, many find it hard to perform threat modeling consistently or abandon it altogether.

IriusRisk uses a platform that automatically finds flaws based on a large library of known threats and solutions. This means massive time and cost savings for businesses thanks to IriusRisk’s platform.

$29M Series B Investment

IriusRisk, the world’s leading open threat modeling platform, received $29 million in Series B funding. The funding round was led by Paladin Capital Group, which is interested in cyber and Deep Tech topics. Media statements indicate that the round was also supported by SwanLaab Venture Factory, 360 Capital, and Inveready.

IriusRisk plans to use the funding to further globalize their operations, focusing on expansion into the Asia Pacific and US markets. They’ll also use the money to grow their community platform; invest in key hires; and continue developing technology that is industry leaders.

Stephen De Vries, the company’s CEO and co-founder, stated that many other industries besides finance employ threat modelling: public sector, healthcare, and even the automotive industry. According to De Vries, these industries need to perform threat modelling at larger scales in order to increase awareness and standards. The increases in threat modelling must correlate with those of IEC/ANSI, OWASP Top Ten and NIST. This is because it helps to increase the overall popularity of threat modelling across all industries. Recognizing the benefits of their technology is critical to progress in the field. With significant investment backing, the threat modeling industry now leads. Everyone that fails to support this momentum will fall behind.

IriusRisk’s Threat Modeling Platform is quickly changing the design of several industries’ products. Kenneth Pentimonti, a Paladin Capital partner, believes that growth is possible in this sector thanks to IriusRisk’s success. As a result, he joined IriusRisk as an investor for a new round of funding. Paladin Capital is an investment firm that Pentimonti works for. By adding his power to IriusRisk’s board of directors, he can guide the company’s future growth.

Automated Threat-Modelling Platform

IriusRisk was launched in 2015 by Cristina Bentue and Stephen de Vries. The threat modeling platform of IriusRisk is powered by automated IaC components.

IriusRisk bridges the gap between the SDLCs to provide secure software from initial design through implementation of secure components. Their platform helps architects, developers and security engineers track and implement secure software through their integrated development tools. IriusRisk helps developers, architects and security engineers implement secure software by tracking initial design flaws and the associated costs.


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