Coalition, a cyber insurance provider, has raised $250m in Series F funding, propelling it to a $5bn valuation.
The round saw participation from Allianz X, Valor Equity Partners, Kinetic Partners and other existing investors.
Coalition’s Active Insurance combines cybersecurity tools, access to around-the-clock digital forensics and incident response, and broad insurance coverage to help organisations identify, mitigate, and insure digital risk.
The company has reported that is experiencing a “wave of growth”, exceeding $775m in run rate GWP (gross written premium) and a nearly 200% increase in revenue growth over the prior year.
The funding will accelerate this growth, power its international expansion, and broaden the services it provides to manage digital risk, Coalition said.
Joshua Motta, CEO and co-founder of Coalition, said, “Many organisations remain unprotected in the face of rising digital threats, and neither traditional insurance nor cybersecurity alone is well equipped to help them.
“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.”
Earlier this month, Coalition partnered with global insurer Allianz to boost cyber insurance capacity.
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