Coalition announced it has raised an additional $250 million to accelerate its growth, power international expansion and broaden the services it offers to help organizations manage digital risk.

This funding round closed in June with participation from Allianz X, Valor Equity Partners, Kinetic Partners and other existing investors, increasing Coalition’s valuation from $3.5 billion to $5 billion.

Coalition’s Active Insurance combines cybersecurity tools, access to digital forensics and incident response, and insurance coverage to help organizations identify, mitigate and insure digital risk. It now serves more than 160,000 customers with Active Cyber Insurance, Active Executive Risks Insurance, P&C insurance and cybersecurity capabilities.

The new funding comes as Coalition continues its growth, exceeding $775 million in run rate gross written premium, and a nearly 200 percent increase in revenue growth over the prior year, according to a company press release. Coalition partners with brokers in all 50 states to provide active cyber and active executive risks insurance and offers active cyber insurance across Canada. Later this year, Coalition will also launch its UK active cyber program in partnership with Allianz, which it announced last week.

Coalition, founded in 2017 by Joshua Motta and John Hering, has raised more than $755 million in equity funding to date from global technology investors, including Durable Capital, T. Rowe Price Associates Inc, Whale Rock Capital, Index Ventures, General Atlantic, Ribbit Capital, Vy Capital and Valor Equity Partners, among others.

Source: Coalition