IriusRisk Competitive Intelligence & Landscape

The flagship product from IriusRisk is its AI Threat Modeling Tool, an automated solution that significantly reduces the time required for threat modeling—from an average of 80 hours to just 8 hours [Source: https://iriusrisk.com/]. This tool is powered by a powerful AI Assistant that aids in diagram creation and saves time, along with Bex AI, which provides conversational security directly in Jira [Source: https://iriusrisk.com/].

IriusRisk also offers tailored services to help elevate threat modeling practices, key features like integrations with existing SDLC technologies, and a comprehensive content library to meet regulatory and industry best practices [Source: https://iriusrisk.com/]. Notably, IriusRisk was the first to threat model AI and ML applications [Source: https://iriusrisk.com/].

IriusRisk targets a broad market, including security teams, developers, and CISOs, enabling them to increase development speed, reduce risk, and demonstrate the value of their security posture [Source: https://iriusrisk.com/]. The company serves various industries such as financial services, medical devices, operational technology, and public services [Source: https://iriusrisk.com/]. According to a Forrester report, IriusRisk provides a 203% ROI, with payback typically seen within six months [Source: https://iriusrisk.com/]. Headquartered in Huesca, Spain, with global offices, IriusRisk saw significant growth in 2021, doubling its customer base and annual recurring revenue [Source: https://www.iriusrisk.com/contact], [Source: https://www.iriusrisk.com/resources-blog/iriusrisk-doubles-the-team-and-annual-recurring-revenue-in-2021].

IriusRisk emphasizes secure design, aiming to embed security controls early in the SDLC to avoid costly rework, which is 100x more expensive at later stages. The company highlights a significant ROI of 203%, with payback often seen within six months, by focusing on cost-saving and remediation avoidance through their automated threat modeling solutions.

For pricing, IriusRisk offers a flexible structure that varies based on the number of licenses or threat models required, prioritizing transparency and charging only for actual usage [Source: https://www.iriusrisk.com/plans]. Their flagship offering is the IriusRisk Community Edition, a free SaaS subscription intended for individuals [Source: https://www.iriusrisk.com/community]. This freemium version provides lifetime access to threat modeling tools, libraries, and their AI assistant, Jeff, including three free threat models. The Community Edition includes diagramming capabilities, automated threats and countermeasures, and manual updates, with some integrations requiring a paid plan [Source: https://enterprise-support.iriusrisk.com/s/article/Getting-Started-with-IriusRisk].

The AI assistant, Jeff, is a key feature across IriusRisk's offerings. It aids in diagram creation, allows users to take text prompts or images, and offers AI-powered Smart Views for focused threat mitigation [Source: https://www.iriusrisk.com/ai-threat-modeling]. While the Community Edition provides a strong foundation with AI assistance, advanced features like automated test-result ingestion are exclusive to paid plans.

IriusRisk also offers tailored services and configurations, including outstanding onboarding packages with self-paced learning via the IriusRisk Academy and live working sessions, to help users maximize their investment and expedite time to value [Source: https://www.iriusrisk.com/services].

The appointment of Sarah, a Chief People Officer, in 2023 underscores IriusRisk's dedication to building and retaining an exceptional team to meet evolving customer needs [https://www.iriusrisk.com/leadership-team]. Her role focuses on driving business success through a people-centric lens, ensuring the company remains a great place to work. While specific recent job openings are not detailed, the company openly invites interested candidates to explore all available positions on its careers page [https://www.iriusrisk.com/careers]. This indicates a continuous need for talent to support its expanding operations and innovative product development, particularly with the integration of its platform with ThreatModeler [https://iriusrisk.com/].

The ongoing hiring patterns at IriusRisk suggest a strategic focus on scaling its workforce to support its product evolution, including the development of its AI Assistant and conversational security features [https://iriusrisk.com/]. The company's emphasis on global presence, as evidenced by its offices and event participation worldwide, further highlights its ambition to capture a significant share of the secure by design market [https://www.iriusrisk.com/contact, https://www.iriusrisk.com/events]. There is no information available to indicate any recent layoffs, reinforcing a stable and growing employment environment within the company as it continues to innovate in the cybersecurity space.

In terms of fundraising, IriusRisk has secured substantial investments to fuel its development. In November 2017, the company, then known as Continuum Security, raised a 1.5M€ investment from Swanlaab, JME, and Sonae IM. More recently, in October 2022, IriusRisk successfully closed a $29 million Series B funding round. This round was led by Paladin Capital Group, a prominent cyber and deep tech investor, underscoring the growing importance of threat modeling in secure product design. The company has also received co-funding from the European Regional Development Funding (FEDER) for projects like ACSDA, aimed at developing an Automated Cyber Security Design Assistant, and funding from the European Cybersecurity Competence Centre (ECCC) for its free-forever community edition.

While specific revenue figures beyond ARR growth percentages are not publicly disclosed, IriusRisk highlights significant financial benefits for its users. A Forrester Total Economic Impact study revealed that IriusRisk delivered a 203% Return on Investment (ROI), with payback achieved within just six months. Furthermore, the study indicated substantial cost savings from remediation avoidance, estimated at $4.9 million over three years. Recently, IriusRisk announced its integration into ThreatModeler, signifying a significant M&A event that brings together their respective strengths in AI-driven threat modeling solutions.

Beyond in-person events, IriusRisk hosts a robust webinar program featuring both live and on-demand sessions. These webinars cover a wide range of topics in threat modeling and broader cybersecurity discussions, offering valuable insights and practical tips [iriusrisk.com/webinars]. Examples include sessions on "Developer-Friendly Threat Modeling," "Better, Faster, Stronger Security with AI Threat Modeling," and "Secure SDLC processes with Threat modeling" [iriusrisk.com/webinars][iriusrisk.com/webinars/ai-threat-modeling][iriusrisk.com/webinars/secure-sdlc-processes-with-threat-modeling]. They also conduct an "Educational Workshop Series" that breaks down the steps to successfully implement a threat modeling program, including practical whiteboard workshops [iriusrisk.com/educational-workshop-series].

IriusRisk is also a key player in fostering a global community around threat modeling. They are integral to Threat Modeling Connect, a community founded in 2022 by leading industry professionals to promote learning, collaboration, and connection among threat modeling practitioners [iriusrisk.com/threat-model-connect]. Through these diverse events and community initiatives, IriusRisk positions itself at the forefront of advancing secure software development practices and knowledge sharing.