IriusRisk secures $6.7 million in a capital round led by Paladin Capital Group.

IriusRisk, a Madrid, Spain-based SAAS developer of a threat modeling platform for Application Security, announced securing $6.7 million series A capital round.

The money was raised from investors led by Paladin Capital Group, with participation from 360 Capital Partners and existing investors Swanlaab, JME Ventures and Sonae Investment Management.

Proceeds will be used for executing the product roadmap and focus on global growth by expanding the sales and marketing teams in the US, UK and Europe.

IriusRisk, founded in 2012 by Stephen de Vries and Cristina Bentue, built a SAAS platform that helps developers, software architects and security engineers to design secure software from the start of the development process and manage security all the way through to the testing phases. There is an increasing need amongst Application Security teams to ‘shift left’ – move security to the earliest possible point in the software development lifecycle - so that security design flaws and their associated costs are reduced.