Coalition, a San Francisco, CA-based cyber insurance and security company, raised $175m in funding, at a value of $1.75 billion.
The round was led by Index Ventures with participation from General Atlantic and existing investors.
The company intends to use the funds to accelerate growth and global expansion and extend its product line, to address a range of risks facing the modern enterprise — many of which are not well covered by standard business insurance policies.
Founded in 2017 by Joshua Motta and John Hering, Coalition is a provider of cyber insurance and security, combining comprehensive insurance and proactive cybersecurity tools (such as automated security alerts, threat intelligence, expert guidance, and cybersecurity tools) to allow businesses to manage and mitigate cyber risk. The company currently 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 9 provinces and 3 territories in Canada.
Today, Coalition serves over 42,000 customers, providing no-cost cybersecurity tools to prevent losses, security and incident response services to contain them, and comprehensive insurance to help organizations recover from failures and breaches.
Headquartered in San Francisco, Coalition’s team is global with employees based across the United States, Canada, the United Kingdom, Switzerland, and Portugal. The company has raised $300m in equity funding from Index Ventures, General Atlantic, Ribbit Capital, Vy Capital, Hillhouse Capital, and Valor Equity Partners, among others.