Coalition, a San Francisco, CA-based cyber insurance provider for small and midsize businesses, acquired Zurich, Switzerland-based Internet scanning and cybersecurity company BinaryEdge.
The amount of the deal was not disclosed.
With the acquisition, Coalition will integrate BinaryEdge’s technology with its cyber insurance and security platform, allowing policyholders to map their Internet attack surface, monitor risk exposures in real-time, and proactively fix vulnerabilities so that they can stay one step ahead of their adversaries.
Following the deal, Coalition is now able to offer 24/7 security monitoring to safeguard an organization, as well as comprehensive insurance coverage for technology failures and cybercrime.
Led by Joshua Motta, CEO, Coalition is a provider of cyber insurance in the United States, combining comprehensive insurance and proactive cybersecurity tools to help businesses manage and mitigate cyber risk. The company provides companies with up to $15 million of cyber and technology insurance coverage in all 50 states and the District of Columbia. Its cyber risk management platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of cyber attacks.
Led by Tiago Henriques, CEO and founder, BinaryEdge provides an Internet data collection platform that continuously scans the entire global Internet, mapping the Internet attack surface of over 5 billion devices across over 15 million business entities, to provide any organization with real-time threat intelligence to help reduce their cyber risk. Customers include many of the largest global corporations, influential security researchers, and information security specialists.