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Cyberrisk platform Arceo.ai secures $37M in funding

Cyberrisk analytics and insurance platform provider Arceo.ai has raised $37 million.

Lightspeed Venture Partners and Founders Fund led the funding, with participation from CRV and UL Ventures. The funding follows the patenting of Arceo's ability to blend cybersecurity data with underwriting strategies.

Hemant Shah, founder and former CEO of catastrophe risk modeling company Risk Management Solutions Ltd., has joined Arceo's board of directors.