Coalition, a San Francisco-based startup that combines cyber insurance with proactive action. cyber security tools is preparing to expand outside the US for the first time since a $250 million Series F mega-investment that brought its valuation to $5 billion.
Investment backed by Alliance XValor Equity Partners and Kinetic Partners, comes out less than a year after the company raised $205 million in Series E in September, which valued the company at $3.5 billion. Since then, the company has more than tripled its customer base from 52,000 to 160,000, Joshua Motta, CEO and co-founder of Coalition, told TechCrunch, and revenue growth has increased nearly 200%.
This, Motta tells us, is the result of a booming cyber insurance startup. While many in the cybersecurity industry begins to feel the effects of the economic storm, the cyber insurance market grew by approximately $7.5 billion in 2021 and is expected to continue growing at 25% year on year. The coalition, which lists AIG, Beazley and Hiscox as its toughest competitors, tells TechCrunch that it remains “one of the biggest vendors” in the market thanks to its “unique combination” of technology, data and insurance.
“This experience has allowed Coalition to build a strategic advantage in the underwriting space by proactively analyzing the data we have accumulated through public web crawls, information security capabilities, and our own claims and incident tracking,” Motta tells TechCrunch. “We use all this data not only to select the best risk, but also to identify and prevent cyber threats for our policyholders.”
As a result of the startup’s recent growth and recent partnership with international financial services provider Allianz Coalition told TechCrunch it plans to offer its cyber insurance policies in the UK for the first time since its founding in 2017. was only available in the US and Canada.
“This funding will be critical to expanding our international footprint and reaching more communities with our tools,” Motta said, adding that the company will also use the $250 million investment to recruit and retain talent.
However, Motta won’t press on whether this will be the company’s last raise before Coalition plans its exit, despite telling TechCrunch back in September that its Series E raise could be the last round of funding before how a startup is preparing to go public.
Credit: techcrunch.com /