IriusRisk, a Cybersecurity startup, has raised a $28.7 million Series B.
After seeing a twofold increase in customers in 2021, IriusRisk has received a $28.7 million Series B to keep up with the rising demand for its threat modelling software, which aids software engineers in identifying high-level vulnerabilities in their systems.
The money will be used to grow the company’s engineering, customer success, and customer support teams in the US, UK, and Spain.
IriusRisk claims it is on target to treble its revenue from the prior year in 2020, and the business will now use a fresh cash infusion to increase its clientele in the Asia-Pacific region.
According to the founder of IriusRisk, the US accounts for around 60% of the company’s clients, and he anticipates that interest in the nation will only grow. Part of this is attributable to President Biden’s recent executive order on cybersecurity, which mandates threat modelling as a necessary step for any firms doing business with the US government in addition to being a recommended norm in all software development.
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