ThreatModeler acquires IriusRisk

● STRATEGIC | CYBERSECURITY

JANUARY 8, 2026

ThreatModeler (Invictus Growth Partners) acquires IriusRisk

TARGET

IriusRisk provides an automated threat modeling platform that helps security engineers and developers design secure software throughout the SDLC, serving banks, technology firms, and regulated-industry enterprises.

Ownership	VC-backed
Investors	Paladin Capital Group, Swanlaab Venture Factory, Bright Pixel Capital, 360 Capital, Inveready, JME Ventures +1 more
Capital raised	$37.5M
Headcount	179 FTEs
Headquarters	Huesca, Spain
Leadership	Stephen de Vries, Co-Founder and CEO
Sell-side advisor	—

ACQUIRER

ThreatModeler

Threat modeling software company

Ownership	PE-backed
Parent	Invictus Growth Partners
Investors	Invictus Growth Partners
Capital raised	$60M
Headcount	123 FTEs
Headquarters	Jersey City, New Jersey
Deal lead	John DeLoche, Co-Founder and Managing Partner (Invictus Growth Partners)
Leadership	Matt Jones, CEO Archie Agarwal, Founder and Chief Innovation Officer
Buy-side advisor	—

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ThreatModeler -> IriusRisk  (2026-09-11)
strategic_acquisition | Cybersecurity | announced
Target: IriusRisk provides an automated threat modeling platform that helps security engineers and developers design secure software throughout the SDLC, serving banks, technology firms, and regulated-industry enterprises.
Website: iriusrisk.com | Buyer site: threatmodeler.com
HQ: Huesca, Spain | Ownership: vc-backed | Buyer sponsor: Invictus Growth Partners | Buyer ownership: pe-backed
Advisors - not yet credited
Source: Thematic - https://thematichq.com/software/d/threatmodeler-iriusrisk.html

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