-62%

est. 2Y upside i

CybersecuritySeries B

Cybersecurity awareness for fast growing companies

Rank

#1614

Sector

Cybersecurity, Enterprise Software, SaaS

Est. Liquidity

~4Y

Data Quality

Data: Medium

Riot presents a moderate upside opportunity for a job seeker, driven by its rapid 'triple-digit expansion' and differentiated AI-powered cybersecurity solution in a growing market.

Last updated: March 10, 2026

Bull (20%)+300%

Riot's AI-powered cyber companion, Albert, achieves significant market penetration by effectively differentiating against incumbents and capturing substantial market share. Revenue grows to approximately $27.2M by 2026, justifying a $680M valuation at a 25x revenue multiple, representing a 300% upside from the current valuation.

Base (30%)+99%

Riot maintains its strong growth trajectory with its differentiated AI offering, expanding its customer base and achieving approximately $22.5M in revenue by 2026. Despite competitive pressures, it secures a $337.5M valuation at a 15x revenue multiple, offering a nearly 100% upside.

Bear (50%)-58%

Dominant incumbents like KnowBe4 and Proofpoint effectively counter Riot's AI differentiation, leading to slower-than-expected growth. Revenue reaches only $14.4M by 2026, and a compressed 5x revenue multiple results in a $72M valuation, wiping out over half of the common stock value due to the preference stack.

Est. time to liquidity~4.0 years

Preference Stack Risk

high

Funding Intensity

26%

Investors have $45M in liquidation preferences, meaning they get paid first. In an exit at $170M, $125M would remain for common shareholders; in an exit below $45M, common shareholders would receive nothing.

Dilution Risk

high

As a Series B company, Riot will likely raise 1-2 more funding rounds (Series C, D), which will dilute existing equity holders, including employees.

Secondary Liquidity

none

There is no indication of active secondary markets or tender offers for Riot's equity at this stage.

Questions to Ask at the Interview

Strategic questions based on Riot's data — designed to show you've done your homework.

  • 1

    “Given the strong presence of incumbents like KnowBe4 and Proofpoint, how does Riot plan to maintain and expand its competitive moat beyond its current AI differentiation?”

  • 2

    “With 'triple-digit expansion' and a goal to protect 10 million employees by 2027, what are the key milestones and challenges Riot anticipates in scaling its revenue from $10M to a much larger figure within the next 2-3 years?”

  • 3

    “Considering the Series B funding round and the total capital raised, what is the company's anticipated timeline for a liquidity event, and how does Riot plan to manage potential dilution for employees in future funding rounds?”

Community

Valuation Sentiment

Our model estimates -62% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.