Coalition, a San Francisco, CA-based cyber insurance and security company, raised $90m in Series C funding.
The round was led by Valor Equity Partners, with participation from Felicis Ventures, Greyhound Capital, and existing investors.
The company intends to use the funds to develop additional insurance products, expand operations and its business reach globally. Coalition combines insurance and proactive cybersecurity tools to allow businesses to manage and mitigate cyber risk.
Led by CEO Joshua J. Motta, Coalition provides companies with up to USD $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 all 10 provinces in Canada. It is backed by global insurers Swiss Re Corporate Solutions, Lloyd’s of London, and Argo Group. Coalition has presences in New York, Los Angeles, Chicago, Dallas, Washington DC, Miami, Atlanta, Denver, Austin, and now Vancouver and Toronto.
Customers range from sole proprietors to small businesses to enterprises with over $1 billion in revenue.