While many in the cybersecurity industry are starting to feel the effects of the economic storm, the cyber insurance market grew an estimated $7.5 billion in 2021 and is expected to continue growing at 25% year on year. This, Motta tells us, is a result of the booming cyber insurance market. Since then, the company has more than tripled its customer base, from 52,000 to 160,000, Joshua Motta, CEO and co-founder of Coalition, tells TechCrunch, and has seen an almost 200% increase in revenue growth. The investment, backed by Allianz X, Valor Equity Partners and Kinetic Partners, comes less than a year after the company’s $205 million Series E raise in September, which valued the company at $3.5 billion. for the first time following a mega $250 million Series F investment that takes its valuation to $5 billion. Coalition, a San Francisco-based startup that combines cyber insurance and proactive cybersecurity tools, is preparing to expand outside of the U.S.
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