202128 Sep

Cyber insurance firm Coalition lands $205M at Series E, valued at $3.5B –

Summary

It’s also seen a gross written premium run-rate of more than $325 million — an 800% increase over the previous year — because, the company tells TechCrunch, its tech-first approach to insurance underwriting is proving to be a more successful model of risk management. “This is a dramatically different approach and it’s working as we set a new standard for an industry that has been slow to unleash the full power of data,” Joshua Motta, Coalition’s co-founder and CEO, told TechCrunch. Increasingly, a company’s industrial processes are controlled by computers, which means they’re at risk of being attacked.” “Coalition’s policy is unique in covering the full spectrum of physical damage that can result from a cyberattack, alongside the financial and intangible damages a company can suffer,” he added. “These [investors] all have impressive track records investing in long-term value creators in the public markets,” Motta says. “We certainly see Coalition following that path but we’ll make future decisions based on what’s best for our customers and partners amidst evolving market conditions.”

Source: Techcrunch

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