Investors are flocking to companies offering cybersecurity insurance policies — startup Coalition has doubled its valuation in just six months. Coalition closed a $205M Series E at a $3.5B+ valuation co-led by Durable Capital, T. Rowe Price Associates, and Whale Rock Capital.
- The company provides its U.S. and Canadian customers with up to $15M worth of cyber and technology insurance coverage.
- Coalition differentiates itself by concentrating on SMBs.
- Coalition raised its $175M Series D just six months ago.
- The company has $325M in run-rate premiums — an 800% YoY increase.
- Coalition has now raised over $505M in total funding since its 2017 founding.
- The company is backed by larger insurers Swiss Re Corporate Solutions, Arch Insurance, and Lloyd’s.
Why is cybersecurity insurance such a big deal now?
- Traditional insurers are pulling back from the market.
- Cybercrime has moved to the forefront following millions of dollars lost in notable ransomware attacks on Kaseya, JBS Foods, and Colonial Pipeline.
Other cyber insurers raising $$$: