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Cybersecurity and insurance provider Coalition Inc. has received a $205 million investment at a valuation of more than $3.5 billion, and plans to use the infusion to grow faster and expand into new insurance lines, among other initiatives, it said Tuesday.

The financing round was led by asset managers Durable Capital Partners, T. Rowe Price Associates Inc. and Whale Rock Capital Management. Existing investors also took part. Coalition has now received more than $500 million in equity investments since its 2017 founding, a company press release said.

Coalition counts Index Ventures, General Atlantic, Ribbit Capital, Vy Capital and Valor Equity Partners among its investors, according to the release.

San Francisco-based Coalition provides cybersecurity, insurance and risk-management services to more than 50,000 customers, according to the release. The company is backed by units of insurers Swiss Re Ltd. and Arch Capital Group Ltd. as well as Lloyd’s of London, among others, and offers up to $15 million in cyber and technology coverage.

Coalition also offers a free risk-management platform that companies can use to assess their vulnerabilities and monitor for cyberattacks.

This story has been published from a wire agency feed without modifications to the text

 

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