Coalition
Active cyber insurance — continuous monitoring + incident response built in
SectorsInsurance
Valuation
$5B
+186% from Mar 2021
Total Raised
~$770M
Across 6 priced rounds
Estimated GWP
~$1B run-rate
Up from ~$700M 2023
Policyholders
130K+
Largest US cyber MGA
Funding History
Total raised: ~$770M · Latest valuation: $5B
| Round | Date | Amount | Valuation | Key Investors |
|---|---|---|---|---|
| Seed | Jun 2018 | $10M | — | Vy CapitalRibbit CapitalCherry Ventures |
| Series A | Jul 2019 | $40M | — | Ribbit Capital (lead)Vy Capital |
| Series B | Sep 2020 | $90M | $500M | Ribbit CapitalVy Capital |
| Series C | Mar 2021 | $175M | $1.75B | Index Ventures (lead)General Atlantic |
| Series E | Sep 2021 | $205M | $3.5B | Durable Capital Partners (lead) |
| Series F | Jul 2022 | $250M | $5B | Allianz X (lead)Valor Equity Partners |
Product Specifications
| System | Type | Status |
|---|---|---|
| Active Insurance | Cyber liability + continuous monitoring + IR | Production (130K+ policies) |
| Coalition Control | Free attack-surface management platform | Production (free tier + paid) |
| Coalition Incident Response | In-house IR team (>200 incidents/mo) | Production |
| Executive Risks | D&O / EPL / Crime add-on lines | Production (2023+) |
| Coalition Capital | Lloyd's syndicate / own balance sheet | Production (2024+) |
Partnerships & Investors
Allianz XInvestor + Capacity
Lead Series F investor (Jul 2022); strategic capacity partner for European expansion
Swiss ReReinsurance
Major capacity provider; co-developed cyber catastrophe modeling
Munich ReReinsurance
Capacity provider since 2021; partner on systemic-cyber tail risk products
Arch InsuranceCapacity
US program admin paper for several policy lines
Lloyd's of LondonStrategic
Coalition Capital syndicate operational from 2024; mid-market segment focus
Key Milestones
2017
Company Founded
Joshua Motta (ex-CIA + Cloudflare) and John Hering (Lookout co-founder) launch Coalition in SF to fix cyber insurance via active monitoring
Jun 2018
First Cyber Policies
Launches Active Insurance model: continuous external attack-surface scanning paired with cyber liability coverage, sold via brokers
Sep 2020
Series B at $500M
Pandemic-era ransomware explosion drives 200% premium growth; Coalition surpasses 25,000 SMB policies
Mar 2021
Unicorn Status
Series C at $1.75B — crosses unicorn threshold; cyber insurance hard market peaks with rates +50-100% YoY
Sep 2021
Series E at $3.5B
Durable Capital leads $205M just 6 months after Series C; 130K+ policyholders, rate of growth highest in cyber MGA market
Jul 2022
Series F at $5B
Allianz X strategic investment + commitment as long-term capacity provider; Munich Re and Swiss Re also provide reinsurance capacity
2023
Active Insurance Becomes Standard
Coalition's continuous monitoring + IR-as-service model wins enterprise expansion; ~$700M GWP run-rate
Jun 2024
Coalition Capital + Underwriting Authority
Establishes own Lloyd's syndicate (Coalition Capital) — moves from MGA-only to balance-sheet underwriter for select books
Oct 2024
Coalition Control Launched
Free attack-surface management product offered to policyholders + non-policyholders — top-of-funnel for risk pricing
2025
Profitability Reached
Reportedly hits underwriting profit + adj-EBITDA positive; ~$1B GWP run-rate; loss ratio mid-50s (best in cyber)
Apr 2026
AI-Augmented Underwriting
Releases LLM-powered claims adjudication + IR triage; reduces claims-handling time 40%; ranked #1 US cyber MGA by Howden