Cybersecurity Insurance Startup Coalition raises $40M in Series B Funding
Coalition Background:
Coalition’s insurance covers expenses incurred from liabilities related to third-parties, such as fines and penalties — as well as fraud, breach response, extortion and ransomware recovery, device replacement and more. The company also aims to give U.S based customers an at-a-glance look at their cybersecurity posture — from alerts, threat intelligence and advice on what to improve, such as vulnerability fixing.
Fintech investment giant Ribbit Capital led the investment with participation from Greenoaks Capital and Hillhouse Capital.
What happens with Series B?
With its Series B, Coalition has raised $40 million in its latest round of funding. The company said it’s planning to expand its data analytics platform used to assess a company’s security posture. The funding will also expand its engineering and incident response team.
Coalition, which declined to state its valuation, previously raised $10 million in February 2018.
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