<p><b>SAN FRANCISCO —</b> <a href="https://www.coalitioninc.com/"><u>Coalition</u></a>, a cyber insurance and security company, has raised $205 million to expand into new insurance lines and help organizations of all sizes remain secure in the face of increasing cyber threats. The new funding round was co-led by Durable Capital, T. Rowe Price Associates and Whale Rock Capital, with participation from the company’s existing investors, valuing Coalition at more than $3.5 billion.</p>
<p>Coalition serves over 52,000 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. While a dramatic increase in the number of cyber incidents in 2021 has triggered higher losses for many major cyber insurance providers, Coalition’s technology-first approach is powering a new, more successful model of risk management.</p>
<p>“We are building a new kind of insurance with technology at its core. This is a dramatically different approach and it’s working,” said Joshua Motta, CEO and co-founder of Coalition. “Insurers need to do more than analyze cyber risk once a year. We scan our policyholders 65,000 times a week. Our platform aggregates and analyzes data from every internet-addressable device inside a company, scanning a policyholder’s assets to identify potential vulnerabilities so we can help minimize risks. We are setting a new standard for an industry that has been slow to unleash the full power of data, and this has positioned our company for tremendous growth in the digital economy.”</p>
<p>The company reports crossing $325 million in run rate premium, an 800% increase over the prior year.</p>
<p>“Coalition is solving a critical gap in the cyber risk and insurance space by aligning the right incentives,” said Henry Ellenbogen, CIO of Durable Capital Partners LP. “The team at Coalition has vastly outpaced the industry in its ability to leverage data and capture the lion’s share of tech and the technology-powered insurance market. We believe digital assets will soon be more valuable than physical assets placing Coalition firmly on the path toward long-term sustainable growth and value creation.”</p>
<p>Coalition has raised over $500 million in equity funding to date from leading global technology investors, including Durable Capital, T. Rowe Price Associates Inc, Whale Rock Capital, Index Ventures, General Atlantic, Ribbit Capital, Vy Capital and Valor Equity Partners, among others. Founded in 2017 by Joshua Motta and John Hering, Coalition is one of the largest cyber insurance and security providers in the United States and Canada. The investment follows long-term capacity commitments from leading global insurers <a href="https://www.coalitioninc.com/announcements/Swiss-Re-Corporate-Solutions-and-Coalition-Extend-Strategic-Agreement"><u>Swiss Re</u></a> and <a href="https://www.coalitioninc.com/announcements/Arch-Insurance-Backs-Coalition-With-Long-term-Capacity-Across-Cyber-Insurance-Programs"><u>Arch Insurance</u></a>.</p>

SAN FRANCISCO -- Deepgram, a Voice AI platform, has raised $130 million in Series C…
Walmart Inc. is teaming with Google to launch a new experience that brings AI from…
SAN MATEO -- EpiBiologics, which specializes in tissue-selective extracellular protein degradation, has announced the completion…
Sandisk announced SANDISK Optimus as the new name for its internal SSD lineup for gamers,…
Meta has made deals with three companies — Oklo, Terrapower and Vistra — that will…
MENLO PARK -- Orca Bio, a late-stage biotechnology company committed to transforming the lives of…