Coalition Honored For Achievements In Insurance Innovation
NEW YORK, NY– (October 22, 2018) — CB Insights today named Coalition, the leading technology-enabled cyber insurance solution, to the second annual Fintech 250 list, a prestigious group of emerging private companies working on groundbreaking financial technology.
“Our mission is simple, yet monumental: to solve cyber risk. Cybersecurity isn’t a problem that can be solved by technology alone,” said Joshua Motta, CEO & Co-founder, Coalition. “By democratizing access to cybersecurity technology, and combining it with comprehensive insurance coverage and incident response services, we’ve built the first solution to help businesses before, during, and after an incident , and we’re honored to be recognized by CB Insights as a leader in our space.”
Founded by technology entrepreneurs Joshua Motta and John Hering, Coalition is a technology company that offers cyber insurance products supported by the financial strength of leading global insurers Swiss Re Corporate Solutions and Argo Group. The company began offering insurance and cybersecurity to small to midsize businesses (SMBs) in November 2017 and is licensed to offer insurance nationwide. Through Coalition’s cyber risk management platform, any business can easily access and configure a number of cybersecurity tools including threat and intelligence alerts, ransomware and denial of service protection, and patch and vulnerability notifications, all without any complex setup or configuration. Coalition’s customers include leading technology companies, investment firms, retailers, banks, manufacturers, and healthcare providers.
In February, Coalition announced that it raised $10 million in Seed funding from leading technology investors including Vy Capital, Ribbit Capital, Valor Equity Partners, Sam Altman (President, Y Combinator), and Deep Nishar (Senior Managing Director, Softbank Vision Fund).
The CB Insights research team selected the Fintech 250 companies based on several factors, including their Mosaic Score. This score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies. Through this evidence-based, statistically-driven approach, the Mosaic Score can help predict a company’s momentum, market health and financial viability.
The Fintech 250 companies represent some of the highest-valued private fintech companies. Thirty of the Fintech 250 companies have reached a unicorn valuation of $1B or more. Since 2017, the Fintech 250 have raised $31.8B across 373 deals. Coalition is among 113 companies that were newly introduced to the 2018 Fintech 250 list.
Coalition, the cyber risk solution from Joshua Motta and John Hering, combines comprehensive insurance and free cybersecurity tools to help businesses manage and mitigate cyber risk. Backed by A+/A rated insurers Swiss Re Corporate Solutions and Argo Group, Coalition provides companies with up to $10M of cyber and technology insurance coverage in all 50 states and the District of Columbia. Coalition’s cyber risk management platform provides automated security alerts, threat intelligence, expert guidance, and tools to help businesses remain resilient in the face of cyber attacks. Coalition is headquartered in San Francisco. For more information about Coalition, visit www.thecoalition.com or follow us on Twitter @SolveCyberRisk.
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