Arceo.ai, the cyber risk analytics and insurance platform provider, has secured $37m to keep bridging the gap between cybersecurity and insurance.
Arceo was founded in 2016. It blends cybersecurity data with innovative underwriting strategies. The startup enables insurance providers to scale their cyber line of business using curated security data for accuracy, AI for advanced risk assessment and workflow automation for efficiency.
“We founded Arceo to create a new framework to solve cyber risk. By blending cybersecurity, threat intelligence, and insurance into one platform, we believe we can unlock new solutions to make companies quantifiably more secure,” said Vishaal Hariprasad, CEO of Arceo.ai, adding that the “platform will enable companies to effectively mitigate the constant threat of cyber attacks.”
Venture capital firms Lightspeed Venture Partners, which closed two funds in July 2018 totalling $1.8bn, and Founders Fund led the round. CRV and UL Ventures also invested in the round.
“Arceo’s founders bring a unique set of enterprise and military expertise to tackle an increasingly global threat – cybersecurity,” said Arif Janmohamed, partner at Lightspeed Venture Partners. “Addressing the security risks that organizations face today needs the kind of defense mindset and technology expertise that the Arceo team is bringing to the market to deliver a modern and end-to-end cyber insurance platform.”
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