Coalition is a company that provides businesses with cyber security and insurance by combining comprehensive insurance and proactive cybersecurity tools. It helps companies to mitigate cyber risks. For this purpose, Coalition has automated security alerts, threat intelligence, expert guidance, etc.
The investment round Series E was co-led by Durable Capital, T. Rowe Price, and Whale Rock Capital. Besides, several existing investors also participated. The funds raised will be used for new market expansion with new insurance lines.
Coalition, headquartered in San-Francisco, was founded in 2017 by John Hering and Joshua Motta. As of now, the company has worked with more than 50 000 clients, this number is twice bigger than last year. With the existing 265 employees, the company is going to increase the team up to more than 300. “Coalition’s policy is unique in covering the full spectrum of physical damage that can result from a cyberattack, alongside the financial and intangible damages a company can suffer,” – Joshua Motta said.