Coalition Closes $205 Million Series E, Valuing the Cyber | #cybersecurity | #cyberattack>
National Cybersecurity News
SAN FRANCISCO, Sept. 28, 2021 (GLOBE NEWSWIRE) â Coalition, the leading cyber insurance and security company, today announced it has raised $205 million to accelerate its scale, 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 companyâs existing investors, valuing Coalition at more than $3.5 billion.

Today, 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, Coalitionâs technology-first approach is powering a new, more successful model of risk management. Data from Coalitionâs H1 2021 Cyber Insurance Claims Report show that its policyholders experience less than one-third the claim frequency compared to other cyber insurance carriers.

The new funding comes as Coalition continues to ride a wave of massive growth as it crosses $325M in run rate premium, an 800% increase over the prior year.
Link: https://nationalcybersecuritynews.today/coalition-closes-205-million-series-e-valuing-the-cyber-cybersecurity-cyberattack/