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The San Francisco-based startup, which combines cyber insurance and active cybersecurity tools, has raised an estimated $ 5 billion following a $ 250 million series F investment to expand for the first time outside the United States.
The investment, backed by Allianz X, Valor Equity Partners and Kinetic Partners, came in less than a year after the company raised $ 205 million in September, paying the company $ 3.5 billion. Since then, the company has more than tripled its customer base from 52,000 to 160,000, according to Joshua Mota, CEO and co-founder of Coalition, and revenue growth has increased by almost 200%.
This death is the result of the growth of the cyber insurance market. As more and more people in the cyber security industry begin to feel the effects of the economic downturn, the cyber insurance market will grow by about $ 7.5 billion by 2021 and is expected to grow by 25% annually. Coalition, which ranks AIG, Beazley and Hiscox as its strongest competitors, will continue to be one of the “largest suppliers” for tech fibers, thanks to the “unique combination” of technology, information and insurance.
Mota told Tech Crunch: “This knowledge has enabled the Union to build strategic writing by actively scrutinizing the information we have stored through public website scans, infographic and our own claims and event monitoring.” It’s also to prevent it. “
He told Tech Crunch that for the first time since the alliance was formed in 2017, it plans to introduce a cyber insurance policy in the UK due to its recent growth and recent collaboration with international financial services provider Allianz. Available only in the United States and Canada.
“This funding will be critical to enhancing our global presence and reaching more communities with our equipment,” Motta said.
However, before Motta announces his departure, there will be no pressure on whether this will be the company’s last increase, although he told Tech Crunch that the start of the Series E expansion in September could be the final funding before it is ready to go public.
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