Coalition has announced that it has raised an additional $250 million in Series F funding to accelerate its rapid growth, power international expansion, as well as broaden the services it offers to help organizations manage digital risk.
The funding round closed in June, with participation from Allianz X, Valor Equity Partners, Kinetic Partners and other existing investors, increasing Coalition’s valuation from $3.5 billion to $5 billion.
The new funding comes as Coalition continues its wave of growth at massive scale, exceeding $775 million in run rate GWP and a nearly 200% increase in revenue growth over the prior year.
The company partners with brokers in all 50 US states to provide active cyber and active executive risks insurance, and also offers active cyber insurance across Canada too.
Later in the year, Coalition will also launch its UK active cyber program in partnership with Allianz, which was recently announced earlier this week.
Moreover, Coalition’s Active Insurance combines industry-leading cybersecurity tools, access to around-the-clock digital forensics and incident response, and broad insurance coverage to help organizations identify, mitigate, and insure digital risk.
The company’s technology advantage has allowed for them to build a sustainable and high-performing book of business in a highly dynamic cyber market, while also helping their customers spot and manage digital risks before they strike.
Coalition now serves over 160,000 customers with Active Cyber Insurance, Active Executive Risks Insurance, P&C insurance, and cybersecurity capabilities.
“Many organizations remain unprotected in the face of rising digital threats, and neither traditional insurance nor cybersecurity alone is well equipped to help them,” said Joshua Motta, CEO and co-founder of Coalition.
“Our active approach to underwriting, monitoring, and responding to digital risk has allowed Coalition to achieve market leading underwriting results while demonstrably reducing claims and losses for our customers so they can continue to thrive in the digital economy.”
Dr. Nazim Cetin, CEO of Allianz X, added: “Coalition’s active, tech-based approach to cybersecurity and cyber insurance has proven to be profoundly effective, which is also reflected in its outstanding business results. The trends driving the importance of cyber defense are irreversible. We see an active approach as the most effective solution for addressing cyberthreats to businesses both now and in the future.”
Chris Golden, Founder and Chief Investment Officer at Kinetic Partners, commented: “Coalition demonstrates clear market and technology leadership with growing network effects. With the company’s high-quality culture and outstanding execution, we believe Coalition’s competitive advantages and value-creation will continue to compound in the coming years.”
The post Coalition raises $250m in Series F funding to support its cyber insurance solution appeared first on ReinsuranceNe.ws.
This content was originally published here.