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Cyber Security North America Risk Management Security Software

BitSight raises $250M from Moody’s and acquires cyber risk startup VisibleRisk

– BitSight, a startup that assesses the likelihood that an organization will be breached, has received a $250 million investment from credit rating giant Moody’s.
– The investment will enable BitSight to create a cybersecurity risk platform.
Moody’s said it plans to make use of BitSight’s cyber risk data and research across its integrated risk assessment product offerings.
– BitSight acquired Israeli cyber risk assessment startup VisibleRisk for an undisclosed sum.

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AnChain.AI Raises $10M in Funding

– AnChain.AI is a San Francisco CA-based blockchain security company.
– Company raised $10M in funding.
– The round was led by SIG Asia Investments with participation from Fin VC, Nima Capital, Hard Yaka and Amino Capital.
– The new investment will be aimed at accelerating product development and recruitment across research and development, engineering, customer success and sales.

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Lextegrity Raises Additional $5M in Funding

– Lextegrity Inc. closed a $5m funding round.
– The round was led by Prescott General Partners.
– The company plans to use the funds to expand its global customer base and go-to-market capability and drive the development of its platform.

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Urbint, which uses AI to predict threats to infrastructure, nabs $60M

– Urbint, a company developing software that can predict threats to critical infrastructure, announced that it raised $60 million in a series C funding round led by Energize Ventures with participation from American Electric Power, and OGCI Climate Investments, as well as existing investors Energy Impact Partners, National Grid Partners, Blue Bear Capital, and Salesforce Ventures.
– Founder and CEO Corey Capasso said that the proceeds will enable Urbint to scale its technology, introduce new solutions, and enter new verticals of infrastructure as well as expand its workforce.

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Ferret Raises $4M Seed Round to Scale the First ‘Relationship Intelligence’ Platform

– Ferret, the first ‘relationship intelligence’ platform, announced a $4M seed investment.
Artesian and 30+ angel investors, including Paul Grinberg, chairman of the Axos Bank, participated in this round.
– The funding will fuel the acquisition and collection of exclusive data, and expand artificial intelligence search, monitoring, and natural language processing capabilities.
– Ferret is an AI platform architected from the ground up to empower companies and individuals with real-time, unbiased intelligence to identify risks and embrace opportunities.
– Delivered via an easy-to-use mobile app, Ferret has exclusive access to NominoData’s proprietary risk management data, which was previously only available to the financial industry and trusted by thousands of institutions worldwide for the past 12 years.

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Vesttoo Raises $6M in Series A Funding

– Vesttoo, a Tel Aviv, Israel-based Alternative Reinsurance and Investment platform, raised $6m in Series A funding.
– The round was led by Hanaco Ventures.
– The company intends to use the funds to further develop its offerings.

Compliance Cyber Security Fraud Detection Information Technology InsurTech Risk Management SaaS Security Software Western Europe

FRISS Raises $65 Million Series B Funding Led by Accel-KKR

– FRISS closed a $65m Series B funding round led by Accel-KKR, advised by FT Partners and endorsed by existing investor, Aquiline.
– The funding will fuel the company’s rapid growth with additional product innovations, deep market penetration and lines of business expansions.
– FRISS serves insurers in over forty countries today, and is well on track to deliver over $2 billion in fraud savings to insurers in 2021 alone.
– Insurance fraud is a large and growing problem faced by insurance companies, with estimates of fraud in as much as 10-17% of total claims paid annually – a staggering $80bn annual loss in the US insurance market alone.

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Interos Raises $100M in Series C Financing

– Interos is an Arlington, VA-based supply chain risk management and operational resilience technology company.
– The company raised $100m in Series C funding.
– The round was led by NightDragon with participation from current investors Kleiner Perkins and Venrock.
– The new investment will be used to expand operations and business reach.

Artificial Intelligence Big Data Business Intelligence Central-Eastern Europe Cyber Security FinTech Fraud Detection Risk Management

Nethone Raises $6.7M in Series A Funding

– Nethone, a Warsaw, Poland-based provider of a solution to solve the plague of online account takeovers, raised $6.7M in Series A funding.
– The round was led by Atmos Ventures and ARIA, with participation from Plug and Play Ventures and Firlej Kastory.
– The new investment will be aimed at accelerating the company’s go-to-market efforts and further strengthening its technology.

AgTech Analytics B2B InsurTech Predictive Analytics Risk Management Software Western Europe

Climate X Raises $1.5M in Funding

– Climate X is a London UK-based climate Intelligence startup.
– The company raised $1.5m in funding.
– The round was led by Pale Blue Dot, with participation from Blue Wire Capital, A100x and Possibilian.
– The new investment will be used to expand operations, accelerate growth and its business reach.

Commercial Lending Finance Financial Services FinTech North America Risk Management

Marco Financial raises $82M in debt, equity seed round to support small Latin American exporters

– Marco Financial, a trade finance company, raised $7m in seed funding and $75m in a credit facility.
– The round was led by Arcadia Funds and Kayyak Ventures, and backed by Village Global VC, Flexport Ventures, Tresalia Capital, 342 Capital, Struck Capital, Antler LLC, Antler Elevate, Florida Funders, Fox Ventures and Arpegio – Venture Capital.
– The company plans to increase its credit line to $100m.

Artificial Intelligence Information and Communications Technology (ICT) North America Risk Management

LitLingo Announces $7.5 Million Series A Funding Round

– LitLingo has completed a $7.5M Series A funding round.
– The investment is led by Breyer Capital, joined by former IBM CEO Sam Palmisano.
– LitLingo enables businesses to enhance communications, strengthen culture, and mitigate risk by providing real-time language analysis within platforms such as Gmail, Slack, Zendesk, and Microsoft O365.
– LitLingo plans to use the capital to double the company headcount over the next twelve months at their Austin, TX headquarters and remotely.
– Scaling out the company’s go-to-market team will include key investments in recruiting sales, marketing, customer success, and engineering roles.
– Additionally, the newly secured funding will help support product enhancements, including growing its library of AI models and communication platform data and application connectors.

Cloud Computing Compliance Cyber Security Management Information Systems North America Risk Management SaaS Security

Ostendio Raises Series A Funding

– Ostendio is an Arlington, VA-based provider of always-on integrated risk management technology that makes it easy to build, operate, and showcase a security program.
– The company closed a Series A funding of undisclosed amount.
– The round was led by Osage Venture Partners and included follow-on investments from Blu Venture Investors, CIT GAP Funds, and other existing investors.
– The new investment will be aimed at the expansion of its network of audit partners (Auditor Connect) and its vendor risk management solution (Vendor Connect).

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Circulor Raises $14m Series A to Lead the Future of Sustainable Supply Chain Traceability

– Circulor, the leading provider of supply chain traceability and dynamic CO2 tracking, announced it has closed $14m in Series A funding to accelerate the company’s rapid growth.
The Westly Group led the round with participation from Salesforce Ventures, BHP Ventures, Future Positive Capital, 24Haymarket and Sky Ocean Ventures.
– Existing investors in the company include Boeing HorizonX, Volvo Cars Technology Fund, Jaguar Land Rover’s CVC arm, InMotion Ventures, SYSTEMIQ, Plug and Play and TotalEnergies Ventures.
– Steve Westly, Founder and Managing Partner of The Westly Group, will join the Circulor board.
– Circulor will use the investment to drive ongoing innovation and extend its presence in North America and Asia.

Logistics North America Risk Management Supply Chain Management Transportation

Overhaul Raises $35M in Series B Funding

– Overhaul, an Austin TX-based company provider of software-based, supply-chain visibility, integrity, and security solution, raised $35M in Series B funding.
– The round was led by Macquarie Capital with participation from Edison Partners and Avanta Ventures (venture arm of CSAA Insurance Group).
– The company will use the funds to accelerate its roadmap in continuing to optimize its current products.

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Cyber risk platform Brinqa nabs $110M amid surge in breaches

– Brinqa, a cyber risk analytics platform based in Austin, Texas, announced it has raised $110 million in growth capital from investment firm Insight Partners.
– Brinqa says it will put the funding, its first institutional investment, toward continued business growth and market expansion.
– According to Markets and Markets, the security orchestration, automation, and response (SOAR) segment is expected to reach $1.68 billion in value this year, driven by a rise in security breaches and incidents and the rapid deployment and development of cloud-based solutions. Data breaches exposed 4.1 billion records in the first half of 2019, Risk Based Security found. This may be why 68% of business leaders in a recent Accenture survey said they feel their cybersecurity risks are increasing.

Financial Services Insurance InsurTech North America Risk Management

Insurtech Startup Certificial Secures $5.8 Million in Series A Funding

– Certificial announced an oversubscribed $5.8m Series A funding round, led by IA Capital.
– The platform is designed to eliminate pain points for all stakeholders involved in the COI exchange process, including agents and brokers, the insured, and the requestor.
– Certificial has also launched a partnership with the Property and Casualty Insurance Business of EXL [NASDAQ: EXLS] to provide additional automation for all stakeholders.
– Certificial welcomed over 6,000 new agencies and brokers to the platform in Q1 of 2021.
– Certificial supports tens of thousands of corporate users, including several leading U.S. companies from all industries, that can now monitor their suppliers’ insurance coverage in real-time, without the administrative burden and cost.

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One Concern Receives $45M Investment from Sompo

– One Concern from Menlo Park, CA provides a platform to model and simulate community resilience and response to earthquakes, floods and other natural disasters.
– Sompo Holdings, Inc. from Tokyo invested $45m in the company.
– The company intends to use the funds to continue to develop its core capabilities in AI-enabled resilience solutions and disaster-risk mitigation technologies.

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SpecTrust raises millions to fight cybercrime with its no-code platform

– Risk defense startup SpecTrust is emerging from stealth with a $4.3m seed raise and a public launch.
– The company aims to “fix the economics of fighting fraud” with a no-code platform that it says cuts 90% of a business’ risk infrastructure spend that responds to threats in “minutes instead of months.”
– Since the San Jose, California-based startup’s offering is deployed on the internet, between a website or app and its users, an organization gets fraud protection without draining the resources of its engineers, the company says.
– Fintech and crypto companies are feeling the biggest impacts, as legacy software designed for big banks, for example, can be slow and expensive, said Kharrl.

Cyber Security Finance North America Risk Management

Moody’s and Team8 Announce Investment in VisibleRisk as It Launches Cyber Rating

Moody’s Corporation and Team8, a global venture group, announced the completion of a $25m investment in VisibleRisk, a joint venture established by the two companies in 2019 to evaluate enterprise cyber risk.
– Additionally, VisibleRisk announced the launch of a Cyber Rating product, building on the collaboration between Moody’s and Team8 to develop a global standard for assessing corporate cyber risk.
– Moody’s investment in VisibleRisk aligns with our global integrated risk assessment strategy and focus on cyber security as an important element of understanding and managing enterprise risk.
– We are pleased to deepen our relationship with VisibleRisk as they launch their innovative Cyber Rating to help customers better understand and confidently manage their cyber risks.

Cyber Security North America Risk Management SaaS Security

Viso Trust assesses third-party cybersecurity risk with AI, raises $3M

– Viso Trust, a platform that uses AI to perform cyber risk assessments, announced it has raised $3m.
– The company plans to use the funds to support expansion and hiring efforts, as well as sales, marketing, and R&D.
– It’s estimated that over 65% of security breaches are attributable to third-party failures.
– The pandemic has heightened the concern among legal and compliance leaders, 52% of whom worry about the risks posed by remote work.
– While the need for faster vendor security reviews has prompted some companies to use abbreviated questionnaires or outside-in assessments to conduct shorter reviews, security analysts can spend hours every day sending and processing documents.

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Earthquake-monitoring platform Safehub raises $9M

– Safehub, a startup developing an internet of things platform to monitor the structural integrity of buildings, today announced the closure of a $9 million series A round led by A/O PropTech.
– The company says it will use the capital to expand its platform and acquire new customers, as well as growing its engineering team.
– A recent FEMA study pegged U.S. losses from earthquakes at $4.4 billion per year. Each year, there are on average about 15 earthquakes with a magnitude of 7 or greater, strong enough to cause damage in the billions and significant loss of life.
– In spite of this, more than 60% of U.S. small businesses don’t have a formal emergency-response plan and fail to back up their sensitive data offsite.

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With $30M extension, BigID boosts Series D to $100M at $1.25B valuation

– BigID, a security and privacy platform, raised $30m in Series D funding.
– The round was led by Advent International and joined by previous investors Boldstart Ventures, Bessemer Venture Partners and Tiger Global.
– The company has raised $200m across four rounds.
– The late-stage startup is attracting all of this capital by building a security and privacy platform.

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Blockchain startup Digital Asset nabs $120M to knock down data silos

– Blockchain-based app development platform Digital Asset today announced that it raised $120 million in series D funding led by 7Ridge and Eldridge.
– The company plans to use the funding to expand its team and product portfolio with a protocol that enables data to interface across blockchains and databases.
– Digital Asset was cofounded 2014 by Sunil Hirani, Don Wilson, Yuval Rooz, Shaul Kfir, and Eric Saraniecki, and its flagship product is a distributed ledger technology for banks and other financial, health care, and insurance institutions.
– The company asserts that the blockchain can transform disparate data silos into synchronized networks, minimizing latency and errors by ensuring that data remains consistent.

Artificial Intelligence Cloud Security Cyber Security Network Security North America Risk Management

Cyble Announces $4 Million in Seed Funding

– Cyble raised a $4M seed financing round led by Blackbird Ventures and Spider Capital with participation from Xoogler Ventures, Picus Capital, and Cathexis Ventures.
– The funding comes as Cyble graduates from Y Combinator, which accepted Cyble into its Winter 2021 (W21) cohort and provided pre-seed funding in January of this year.
– These investments demonstrate the continued trust that investors and clients have in Cyble.
– Cyble has made huge progress over the last year.
– “We started this company with an ambitious goal: to equip organizations with real-time visibility into vulnerabilities in the cyber landscape and help safeguard their businesses.

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Strategic Risk Associates Raises $4M in Funding

– Strategic Risk Associates from Glen Allen, VA provides enterprise risk and performance management software and consulting solutions.
– The company raised $4M in first equity funding round.
– The new capital will be used to accelerate growth, hire talent, ramp up product development and enhance data analytics while building out a technology partner ecosystem and sales and marketing team.
– Led by Michael B. Glotz, Co-founder and CEO, Strategic Risk Associates has hired Joe George as Chief Technology Officer.

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OneTrust adds ethics to its privacy platform with Convercent acquisition

– OneTrust, a privacy platform startup, acquired Convercent, a company that was built to help build more ethical organizations.
– The companies did not share the purchase price.
– OneTrust just raised $300m on a fat $5.1b valuation at the end of last year, and it’s putting that money to work with this acquisition.
– Convercent brings 750 customers and 150 employees to the OneTrust team along with its ethics system, which includes a way for employees to report ethical violations to the company and a tool for managing disclosures.
– Quinlan wrote in a company blog post announcing the deal that joining forces with OneTrust will give it the resources to expand its vision.
– Convercent was founded in 2012 and has raised over $100m, according to Pitchbook data.

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Torch.AI Raises $30M to Scale Its AI-Driven High Speed Data Processing Platform

– Torch.AI, a leading global artificial intelligence (AI) firm that uses machine learning to enable massively scaled, ultra high performance data processing, today announced it raised $30m in Series A funding to accelerate its overall growth strategy.
– The funding, led by WestCap Group, a prominent San Francisco-based investment firm, will enable the company to rapidly scale its Nexus™ AI platform to meet increasing demand from clients including Fortune 100 companies and U.S. federal agencies charged with protecting national security.
– Founded in 2017, Torch.AI created a next-generation AI platform that instantaneously understands and richly describes any data in atomic detail, both in memory and in motion. The Nexus™ software creates an intelligent Synaptic Mesh™ across an organization’s data and systems, increasing the surface area of data for discovery and action.

Cyber Security Information Technology Insurance North America Risk Management

Coalition Raises $175M in Funding

– Coalition is a provider of cyber insurance and security.
– The company raised $175m in funding.
– The round was led by Index Ventures with participation from General Atlantic and existing investors.
– The new funding will be used to accelerate the company’s global expansion and development of new products.

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Vulcan Cyber launches free vulnerability management service with $21M in new funding

– Vulcan Cyber, a startup developing tools to help enterprise customers detect and fix software vulnerabilities, today announced that it raised $21m in a series B round led by Dawn Capital.
– The funds will be used to support the rollout of new exploit remediation solutions for cloud and app security teams and to deliver Vulcan Free, a no-cost, risk-based vulnerability management platform for cyber risk prioritization.
– More than a third of web app vulnerabilities are considered high risk, according to a report from Edgescan, and organizations with 101 to 1,000 employees see the most high-risk and critical-risk vulnerabilities.
– These can be expensive if left unaddressed. In recent years, the average cost of a security breach has generally hovered between $3.5m and $4m.

Compliance Europe GovTech Information Technology Machine Learning Risk Management Software

Elucidate Raises €2.5M in Pre-Series A Funding

– Elucidate, a Berlin, Germany-based financial crime risk scoring platform, raised €2.5m in pre-Series-A funding.
– The round led by Frontline Ventures with participation from existing investors Seed X Liechtenstein, APEX Ventures, and Big Start Ventures.
– The new investment will be used to accelerate market penetration to the public sector and regulators, in addition to banks, non-banking financial institutions (NBFIs), VASPs and fintechs already using the platform to assess, score and price financial crime risk.

Cryptocurrency Europe Insurance Risk Management

Unslashed Raises $2M in Funding

– Unslashed Finance, a London, UK-based company that provides insurance products for crypto assets, raised $2M in funding.
– Backers included Lemniscap, P2P Capital, Bitscale Capital, Chainlayer, and several angels including Mona El Isa, founder of Kyber Loi Luu, founder of Deversefi Will Harborne and founder of Argent Itamar Lesuisse.
– The company intends to use the funds to continue to expand operations and its business reach.

Asia Banking Financial Services FinTech Risk Management

Mirato Closes $9-Million Funding Round to Accelerate Development of Next-Generation Third-Party Risk Management Platform

– Mirato Closes $9-Million Funding Round to Accelerate Development of Next-Generation Third-Party Risk Management Platform
– Mirato, provider of a third-party risk management (TPRM) platform that orchestrates and automates the entire TPRM lifecycle (including onboarding through monitoring), today announced the completion of a $9-million funding round to support the continued development and commercialization of its technology.
– The round was led by Grove Ventures and co-led by Janvest Capital Partners, with additional funding provided by American Express Ventures, iAngels, and others.
– Financial institutions increasingly rely on business interactions with third-party suppliers, and are facing greater pressure from regulators to understand the potential impacts and implications of these business engagments.

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