Resilience
{{#invoke:infobox|infoboxTemplate|child= | bodyclass = vcard
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| subheader = Arceo Labs, Inc. | subheaderstyle = font-weight:bold; font-size:105%;
| image = {{#invoke:InfoboxImage|InfoboxImage|image=Logo of Resilience.svg|size=|sizedefault=frameless|alt=Logo of Resilience}} | caption =
| header1 = Corporate identity
| label2 = Type | data2 = Private — insurtech MGA | class2 = category
| label3 = Traded as | data3 =
| label4 = ISIN | data4 =
| label5 = LEI | data5 =
| label6 = Registration number | data6 =
| label7 = Regulated | data7 =
| label8 = License type | data8 = Managing general agent / program administrator
| label9 = NPN | data9 = 19169260 (Ocrea Risk Services, LLC)
| label10 = Coverholder reference | data10 =
| label11 = License number | data11 =
| label12 = Incorporation | data12 =
| label13 = Founded | data13 = 2016{{#invoke:Check for unknown parameters|check|unknown=|preview=Page using Template:Start date and age with unknown parameter "_VALUE_"|showblankpositional=1| 1 | 2 | 3 | br | df | end | p | paren }}
| label14 = Headquarters | data14 = San Francisco | class14 = label
| label15 = Country | data15 =
| label16 = Domicile | data16 =
| label17 = Licensed jurisdictions
| data17 = United States
United Kingdom (FCA reference 1007418)
European Union (German intermediary registration D-Z0HQ-O6149-23)
Canada
| label18 = Regulator
| data18 = Financial Conduct Authority (UK)
IHK zu Dortmund (Germany)
| label19 = Ultimate parent | data19 =
| label20 = Major shareholders
| data20 = General Catalyst
Lightspeed Venture Partners
Founders Fund
CRV
UL Ventures
Shield Capital
Intact Ventures
| label21 = Group status | data21 =
| label22 = Key people
| data22 = Vishaal "V8" Hariprasad, CEO and co-founder, licensed insurance broker and producer
Raj Shah, Chairman and co-founder, Managing Partner of Shield Capital
Mario Vitale, President
Maria Long, Chief Underwriting Officer
Jeremy Gittler, Global Head of Claims
Chris Wheeler, Chief Information Security Officer
Hemant Shah, Board member (since 2019)
| label23 = Number of employees | data23 =
| header24 = Business & markets
| label25 = Operating status | data25 =
| label26 = Customer segments | data26 = Mid-market to large enterprise ($25M–$10B revenue)
| label27 = Lines of business
| data27 = Cyber insurance
Technology errors and omissions
| label28 = Business segments | data28 =
| label29 = Main products & services
| data29 = Cyber insurance (limits up to $20M, primary and excess)
Technology E&O (limits up to $10M, primary and excess)
| label30 = Technology platform
| data30 = Risk Operations Center (portfolio threat monitoring)
Breach and attack simulations (powered by AttackIQ)
| label31 = Capacity providers
| data31 = Homeland Insurance Company of New York (Intact group)
Homeland Insurance Company of Delaware (Intact group)
Intact Insurance Company (Canada)
| label32 = Distribution | data32 = Broker-led
| label33 = Geographic markets
| data33 = United States
Canada
United Kingdom and Ireland
European Union (Nordics, Italy, Spain, France, Benelux, Germany and Austria)
| label34 = Branches | data34 =
| label35 = Customers served | data35 =
| label36 = Competitors
| data36 = At-Bay
Coalition
Corvus Insurance
Cowbell
BOXX Insurance
Convergence Insurance
Eye Security
Stoïk
| label37 = Market share rank | data37 =
| header38 = Key financials
| label39 = Currency | data39 =
| label40 = Market cap | data40 =
| label41 = Revenue | data41 =
| label42 = Insurance revenue | data42 =
| label43 = Operating income | data43 =
| label44 = EBITDA | data44 =
| label45 = Net income | data45 =
| label46 = Gross written premium | data46 =
| label47 = Net written premium | data47 =
| label48 = Loss ratio | data48 = Three times lower than the 2022 industry average (per company claim, August 2023)
| label49 = Combined ratio | data49 =
| label50 = Commission / MGA fee | data50 =
| label51 = Total assets | data51 =
| label52 = Invested assets | data52 =
| label53 = Technical reserves | data53 =
| label54 = Contractual service margin | data54 =
| label55 = Net debt | data55 =
| label56 = Equity | data56 =
| label57 = Operating margin | data57 =
| label58 = Solvency ratio | data58 =
| label59 = Return on equity | data59 =
| label60 = Total funding raised | data60 = Over $225M (per company disclosure, August 2023)
| label61 = Last funding round | data61 = Series D, $100M, August 2023
| label62 = Last known valuation | data62 = $650M (Series C, November 2021)
| label63 = Lead investors
| data63 = Intact Ventures (Series D)
General Catalyst and Corey Thomas (Series C)
Lightspeed Venture Partners and Founders Fund (early funding)
| label64 = Capital structure | data64 =
| label65 = Insurer financial strength | data65 =
| label66 = Capacity partner ratings | data66 =
| label67 = External ratings | data67 =
| data68 =
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Business description
🏢 Corporate identity. Resilience (legally Arceo Labs, Inc.) is a cyber-focused insurtech managing general agent headquartered in San Francisco.[1] The company operates under a delegated underwriting model, functioning as a program administrator on third-party carrier paper rather than bearing risk on its own balance sheet.[2] Insurance products are produced or distributed through licensed intermediaries, while cybersecurity services are delivered directly by the operating company. Originally branded as Arceo.ai, Resilience was founded in 2016 and has since raised over $225M in venture capital funding to build an integrated cyber insurance and security platform.[3]
🌐 Jurisdictional structure. Resilience operates across multiple jurisdictions through distinct distribution entities tailored to local regulatory requirements. In the United States, insurance products are distributed by Ocrea Risk Services, LLC (NPN 19169260), doing business as "Resilience Cyber Insurance Solutions," and underwritten by Homeland Insurance Company of New York and Homeland Insurance Company of Delaware, both subsidiaries of Intact Insurance Group USA LLC.[2] In the United Kingdom, distribution is handled by Arceo, Ltd., authorized and regulated by the Financial Conduct Authority under reference number 1007418; the company is registered at Companies House (registration number 11594316) with a registered office in London.[4][5]
🇪🇺 European and Canadian operations. In the European Union, insurance products are distributed by Resilience Cyber Insurance Solutions Germany GmbH, registered at the commercial register of the local court of Hamm under HRB 10828 with intermediary registration D-Z0HQ-O6149-23 and supervisory authority IHK zu Dortmund; EU security services are provided by Resilience Cyber Risk Ltd., registered in Dublin.[6] Companies House records confirm a UK establishment for the German entity (company number FC040253) with an overseas address in Unna and a first UK establishment opening date of 13 September 2022.[7] In Canada, insurance services are offered by Resilience Cyber Insurance Solutions Agency Canada Ltd. and underwritten by Intact Insurance Company, while security services are provided by Resilience Cyber Risk Canada Limited, based in Toronto.[8]
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Leadership and governance
👤 Founders. Resilience was co-founded by Vishaal "V8" Hariprasad and Raj Shah, both with backgrounds in United States military service and defense technology. Hariprasad serves as CEO and is a licensed insurance broker and producer; he previously co-founded Morta Security (acquired by Palo Alto Networks) and was a founding partner at Defense Innovation Unit Experimental.[9] Shah serves as chairman and is managing partner of Shield Capital; he previously led DIUx, serves as a reserve F-16 pilot in the Air National Guard, and holds an AB from Princeton University and an MBA from the Wharton School of the University of Pennsylvania.[10] Both founders have US military affiliations and prior defense innovation roles; no reviewed primary source links either founder to national intelligence agencies.[9]
🏛️ Executive team and board. Mario Vitale serves as President, Maria Long as Chief Underwriting Officer, Jeremy Gittler as Global Head of Claims, and Chris Wheeler as Chief Information Security Officer.[11][12] Hemant Shah joined the board in 2019, as announced in a press release during the company's Arceo.ai era.[13]
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Funding and ownership
💰 Funding rounds. Resilience has completed multiple disclosed funding rounds since inception, accumulating significant venture capital from a blend of generalist, defense-adjacent, and strategic insurer investors.
| Round | Date | Amount raised | Lead investor(s) | Notable co-investors | Post-money valuation |
|---|---|---|---|---|---|
| Early funding (cumulative) | September 2019 | $37M | Lightspeed Venture Partners, Founders Fund | Charles River Ventures | — |
| Series C | November 2021 | $80M | General Catalyst, Corey Thomas | Per investor list in release | $650M |
| Series D | August 2023 | $100M | Intact Ventures | Per investor list in release | — |
Sources: early funding disclosure;[13] Series C amount and investor list;[14] Series C valuation per specialist press;[15] Series D amount and lead.[3]
📊 Funding totals and data integrity. Confirmed itemized disclosures total $217M across three rounds: $37M cumulative as of September 2019, $80M in Series C (November 2021), and $100M in Series D (August 2023). The Series D announcement describes prior funding as "over $225MM," implying materially more capital than the itemized round disclosures; however, a reconciled round-by-round breakdown substantiating that figure is not available in reviewed primary sources.[3]
🤝 Investor profile. The disclosed investor base spans generalist and defense-adjacent venture capital firms alongside a strategic insurer venture arm, including General Catalyst, Lightspeed Venture Partners, Founders Fund, CRV, UL Ventures, Shield Capital, and Intact Ventures.[14] This composition reflects a thesis centered on the convergence of cyber risk quantification, insurable risk transfer, and security operations embedded into underwriting.[14]
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Customer segmentation
🎯 Target segments. Resilience positions across mid-market through large enterprise accounts, claiming that more than 10% of enterprises earning over $1 billion trust it for policy coverage.[16] The cyber insurance product offers limits up to $20M on a primary or excess basis, while the technology E&O product targets US primary and excess placements for organizations with $25M to $10B in revenue, with $10M limits.[16][17] At launch, specialist press described the initial program as targeting organizations with revenues of $100M to $5B, writing initially on a non-admitted basis via broker distribution.[18]
🏭 Industry verticals. The cyber insurance product page lists a broad appetite spanning healthcare, higher education, financial institutions and financial services, manufacturing, construction, law firms, professional services, public entities, retail and hospitality, technology, and life sciences (including medical devices and pharmaceuticals).[16] Technology E&O appetite covers technology services (including MSP/MSSP), hardware, data centers, telecommunications, software (including AI and payment software), and web services.[17]
📍 Geographic availability. Cyber insurance availability extends across the United States, Canada, the United Kingdom and Ireland, and multiple European markets including the Nordics, Italy, Spain, France, Benelux, Germany and Austria, and the broader EU.[16] Jurisdictional claims documents confirm operational structuring via distinct distribution entities in each region.[4]
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Products and services
🛡️ Cyber insurance coverage. Resilience positions its cyber insurance as backed by global property and casualty carriers with primary and excess availability and limits up to $20M.[16] US underwriting is placed through Homeland Insurance Company of New York and Homeland Insurance Company of Delaware (Intact group).[2] Explicitly described coverages include up to $500,000 in eCrime coverage, recovery for funds transfer fraud through relationships with government agencies and financial institutions, and privacy wrongful act coverage.[16] Data restoration and recovery is referenced as an incident response service category within claims service panel materials.[19]
⚖️ Technology E&O. Resilience offers a Technology Errors and Omissions product for primary and excess placements with $10M limits, targeting organizations with $25M to $10B in revenue across technology services, hardware, data centers, telecommunications, software, and web services.[17] This product represents an adjacent commercial line expansion beyond core cyber insurance; no further commercial lines such as D&O, EPL, general liability, or property were identified in reviewed product materials.[17]
🔒 Cybersecurity services. The company operates under an "Insure + Secure" model in which in-house security engineers engage with clients from initial risk assessment through post-bind vulnerability monitoring.[14] The Risk Operations Center monitors threat activity across the portfolio to detect and help prevent incidents, complementing a claims and incident response team available 24/7 with a stated average initial reply time under 15 minutes.[16][12] Breach and attack simulations are powered by AttackIQ as a disclosed technology partnership.[16]
📋 Claims and incident response. The claims operation is described as a global in-house team, with service panel materials enumerating provider categories including privacy law, digital forensics and incident response, data recovery, ransomware resolution, crisis communications, notification and call center services, and credit monitoring and identity protection.[19] Claims service documents emphasize that the purchase of insurance is not tied to the purchase of security services, supporting a model in which security offerings can be bundled, included, or contracted separately depending on jurisdiction and customer configuration.[19]
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Capacity and partnerships
🏦 Primary capacity. US underwriting is placed through Homeland Insurance Company of New York and Homeland Insurance Company of Delaware, both within the Intact group.[2] The Series C announcement characterizes Resilience as the cyber program manager of Intact Insurance Specialty Solutions and includes a carrier partner endorsement from Intact leadership.[14] The Series D announcement reinforces this relationship, describing the carrier group's underwriting companies as the primary capacity provider and linking it to the strategic venture arm's leadership of the financing round.[3] In Canada, underwriting is provided by Intact Insurance Company.[8]
📐 Limits structure. Cyber insurance limits are available up to $20M on a primary or excess basis, while technology E&O limits reach $10M for primary and excess placements.[16][17]
🔗 Strategic partnerships. The most explicitly disclosed technology partnership is AttackIQ for breach and attack simulations embedded in the product offering.[16] The strategic investor profile, particularly the Intact group's venture arm leading the Series D, suggests alignment incentives between underwriting capacity, distribution expansion, and platform adoption, though equity stake sizing and governance rights are not publicly disclosed.[3]
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Competitive positioning and outlook
🏁 Peer context. Resilience competes within the cyber insurtech MGA ecosystem alongside firms including At-Bay, Coalition, Corvus Insurance, Cowbell, BOXX Insurance, Converge Insurance, Eye Security, Stoïk, Baobab Insurance, Cogitanda, Elpha Secure, Emergence Insurance, Evolve MGA, Measured Analytics and Insurance, and others.[16] Based on public disclosures, the company aligns most closely with a "full-stack cyber risk platform plus insured capacity" archetype, differentiating from purely digital SME-focused MGAs through the integration of insurance with continuous security operations and enterprise-tier revenue brackets.[14]
🔬 Competitive moat. Key differentiation drivers include the integrated operating model combining underwriting with in-house security engineering and continuous monitoring, a claims execution posture built on fully in-house professionals with a sub-15-minute initial response target supported by a published vendor panel, and capacity alignment through a strategic carrier partnership providing relatively stable delegated authority compared with single-year binders.[14][12][3]
📈 Performance indicators. Public filings reviewed do not disclose gross written premium, revenue, or profitability for the operating group, as underwriting is conducted on carrier paper rather than a company-owned risk-bearing entity.[2][1] The sole publicly disclosed performance metric is a company claim that the net loss ratio is three times lower than the 2022 industry average.[3]
⚠️ Risk factors. Key risk considerations include capacity dependency concentration, with US underwriting explicitly tied to named Intact group carrier entities whose delegated authority terms or appetite changes could materially affect growth.[2] The core differentiation rests on risk quantification and continuous monitoring claims for which independent validation of loss outcomes is limited in public disclosures.[3] Multi-jurisdictional operations across the UK, EU, and Canada through multiple licensed distribution entities increase compliance overhead and supervisory exposure.[4] The business targets mid-market through large enterprise limits up to $20M, increasing tail sensitivity to correlated cyber catastrophe scenarios, and expansion into technology E&O introduces broader professional liability exposures beyond pure cyber.[16][17]
🔭 Strategic outlook. Disclosed actions imply a strategy anchored on scaling the combined cyber risk platform and insurance product set, deepening broker-led distribution, extending internationally through regulated intermediaries and local service infrastructure, and expanding product adjacency into technology E&O.[3]
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Timeline
| Date | Event |
|---|---|
| 2016 | Company founded (Arceo.ai era).[13] |
| 28 September 2018 | UK entity Arceo, Ltd. incorporated at Companies House.[5] |
| 25 September 2019 | Arceo.ai announces $37M in cumulative funding led by Lightspeed Venture Partners and Founders Fund; Hemant Shah joins the board.[13] |
| 22 November 2021 | $80M Series C announced, co-led by General Catalyst and Corey Thomas; carrier partnership with Intact group referenced; $650M valuation reported by specialist press.[14][15] |
| 13 September 2022 | UK establishment opened for the German distribution entity (Companies House record).[7] |
| 7 August 2023 | $100M Series D announced, led by Intact Ventures; continued emphasis on integrated platform and international scaling.[3] |
| 2025 | Product menu shows Technology E&O alongside cyber insurance, indicating adjacent line expansion.[17] |
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See also
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References
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