The company was previously valued at $3.5B in September 2021. Here are the top-line bullets you need to know.
Coalition, a cyber insurance provider, has raised $250M in a Series F. The round drew participation from Allianz X, Kinetic Partners, and Valor Equity Partners, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Coalition offers insurance coverage as well as cybersecurity tools to help businesses address cyber risk.
- The company serves over 160K customers.
- Over the past year, Coalition’s revenue growth increased by almost 200%.
- The company partners with brokers across 50 states and also provides active cyber insurance in Canada.
- In partnership with Allianz, Coalition plans to launch its UK program later this year.
Source: Coalition
WHY DOES THE MARKET MATTER?
- The global cybersecurity insurance market is expected to reach a value of $29.2B by 2027, growing at a CAGR of 19.6%, according to Markets and Markets.
- The rising frequency and severity of cyberattacks as well as mounting regulatory pressure have contributed to growth in this market.
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