Insider Brief
- Arcanna.ai, specializing in Decision Intelligence for cybersecurity, has raised $3.5 million in a seed funding round led by Lytical Ventures, with participation from Osage Venture Partners, Defined, Isometric Ventures, and John Stewart.
- This investment will accelerate the expansion of their platform focused on autonomous decision-making in cybersecurity.
- The company addresses the challenges cybersecurity professionals face, such as data overload, alert fatigue, false positives, and high turnover rates due to the increasing number of cyber threats and its platform aims to augment and automate human decision-making in security and network operations, reducing response time, risk, and the burden of handling large volumes of attacks.
PRESS RELEASE — NEW YORK/December 19, 2023 (Newswire.com) — Arcanna.ai announced today the company raised $3.5 million in a seed round led by Lytical Ventures (New York) with participation from Osage Venture Partners (Philadelphia), Defined (Vancouver), Isometric Ventures (Luxembourg) and John Stewart. This infusion of capital is set to rapidly expand Arcanna.ai’s innovative platform, setting an industry-first path toward autonomous decision-making in cybersecurity.
Arcanna.ai addresses an acknowledged problem in the industry: cybersecurity professionals face an overwhelming challenge, dealing with a rising number of cyber threats, data overload, alert fatigue, and an upsurge in false positives, contributing to team exhaustion and high turnover rates, along with the risk of security breaches amid the industry skill shortage.
Managing Partner of Osage Venture Partners, Nate Lentz commented, “Arcanna.ai’s demonstrated leadership and strategic use of advanced technologies position them as pioneers in the field. We believe Arcanna is solving mission-critical business problems by applying AI to augment and automate human decision-making in security and network operations.”
As a Decision Intelligence platform, Arcanna.ai enhances human decision-making within the Security Operations Center (SOC) or Network Operation Center (NOC), regardless of tools, processes, or data. It achieves this by leveraging consistent data points and incorporating human feedback into customer-owned AI models.
By integrating Arcanna.ai’s solution, organizations can expect a significant reduction in mean time to response (MTTR), a substantial decrease in risk, and a significant capacity boost in dealing with higher volumes of attacks.
“For some time, the data shows that we cannot hire our way out of the cyber situation we all face — there aren’t enough candidates and not enough time. What we can do, and Arcanna will do, is create a force multiplier, using technology the way it was intended — to help security productivity, through AI,” said John Stewart, former Cisco Chief Security and Trust Officer, Investor, and Board Member.
Arcanna.ai is headquartered in New York and was founded in 2019 by a team of highly skilled professionals with vast experience in security and AI. Peter Ruta, Lucas Nelson, and John Stewart will form the company’s board of directors.
“This investment represents a significant vote of confidence in Arcanna.ai’s vision and underscores the growing importance of Decision Intelligence in fortifying cyber defenses. The funding will drive research, development, and the expansion of our go-to-market capabilities.” — said Arcanna.ai CEO and founder, Peter Ruta.
About Arcanna.ai:
Arcanna.ai is a pioneer in providing software for enhancing human decisions in critical operations. Additional information is available at www.arcanna.ai
