Coalition Raises $40M in Funding
Summary
Coalition , a San Francisco, CA-based cyber insurance company for small and midsize businesses, closed a $40m funding round. The company intends to use the funds to triple engineering and incident response team over the next year and to scale its global platform. Co-founded by Joshua Motta and John Hering, joined by recently appointed Head of Engineering Leon Rishniw, Coalition provides a cyber risk solution that combines comprehensive insurance and cybersecurity tools to allow businesses manage and mitigate cyber risk. Its cyber risk management platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to allow businesses to protect from the entire spectrum of cyber risk, including coverage for network breaches, systems failures, ransomware, business interruption, funds transfer fraud, privacy liability, regulatory fines and penalties, property damage, and more. Customers include technology companies, investment firms, retailers, banks, manufacturers, non-profits, and healthcare providers.