IriusRisk provides an automated threat modeling platform that uses a rules engine and pattern-based approach to analyze client-side and cloud-hosted codebases, importing from tools like AWS CloudFormation, HashiCorp Terraform and Microsoft Visio to generate diagrams and threat models. The platform includes an analytics module with reports and logs and allows customers to extend its pattern detection library with components for AWS, Google Cloud, Azure and industrial control systems. IriusRisk positions its product to bake security into the software development lifecycle so engineering teams can self-serve threat modeling and meet regulatory requirements via extensive security standards libraries. The company reports product and usage growth: the free Community Edition grew 120% to just over 5,400 active users, more than 4,000 projects ran on the free platform last year, and annual recurring revenue has grown over 106% year-over-year for the past two years and is currently at 120% year-over-year growth. Customers include six of the 30 globally systemically important banks, nine Fortune 100 companies, government organizations and a digital forensics firm that supports military end-users. IriusRisk plans to expand headcount from 137 to 160, will launch a new open threat model format in November to improve interoperability, and intends to use new funding to grow its U.S. and EMEA sales and marketing teams. IriusRisk provides an automated threat‑modeling platform for application security, enabling teams to build security into software from design through production. The product helps developers, software architects and security engineers “shift left” to catch design flaws early—addressing an estimated 50% of software vulnerabilities that stem from design. IriusRisk says it has grown to more than 40 enterprise clients across the US, Europe and the UK, including Red Hat and Axway and several Fortune 500 financial, industrial and consumer customers. The company plans to use new funding to continue innovating along its product roadmap and to expand sales and marketing teams in the US, UK and Europe. Co‑founders are Stephen de Vries and Cristina Bentue. The company lists offices/locations in Madrid (Spain), London (UK) and Atlanta (US). Continuum Security is a Madrid-based cybersecurity company that created a threat-modeling platform to automate and scale secure design activities. In 2016 the company launched IriusRisk, an enterprise-focused solution that helps developers and security analysts mitigate software vulnerabilities at application design time. It also maintains BDD-Security, an open-source dynamic testing framework for integrating security testing into development pipelines. The company has a team of 10 and serves customers across Europe and the USA, primarily in the financial and technology verticals. Continuum plans to use the new capital to strengthen its international growth strategy and expand its sales and R&D teams. As a result of the investment it will release IriusRisk 2.0 in 2018.

Total raised

$37M

Funding rounds

3

Latest round

Series B

Latest activity

Oct 2022