Coalition, a San Francisco-based cyber insurance and security company, has already been focused on rapid growth. Its new $205 million venture capital financing will help supercharge that strategy even further.
Coalition said the investment will help accelerate its plans to scale and also support expansion into new insurance lines. As well, the investment leaves Coalition with a $3.5 billion valuation, the company claims.
Durable Capital, T. Rowe Price Associates, and Whale Rock Capital led the Series E round, with participation from existing investors.
Coalition, an MGA, said it now serves over 52,000 customers, and has long-term capacity commitments from global insurers including Swiss Re, Arch Insurance and Lloyd’s of London, among others. Coalition provides companies with up to $15 million of cyber and technology insurance coverage in all 50 states and the District of Columbia, as well as CAD $20M of coverage across 9 provinces and 3 territories in Canada. Additionally, Coalition’s cyber risk management platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of…
