Coalition company profile: valuation, funding & revenue

This Coalition company profile covers the company's valuation, revenue, funding rounds, investors and history. Coalition works in insurtech, with a focus on cyber insurance and security. It was founded in 2017 and is headquartered in San Francisco, California, United States. Its latest valuation on record is US$5 billion (July 2022). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

Funding history

Coalition timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2017 — Coalition is founded in San Francisco by Joshua Motta (CEO) and John Hering.
• Sep 2021 — Series E: US$205M, valuing the company at US$3.5B.
• Jul 2022 — Series F: US$250M, valuing the company at US$5B. Investors: Allianz X, Valor Equity Partners, Kinetic Partners and existing investors.
• July 2022 — Scale: More than 160,000 customers and over US$775 million in run-rate gross written premium (company-reported).

Investors

Overview

Coalition sells cyber insurance combined with security tools and services, an approach it calls "active insurance". Traditional insurers pay claims after a cyberattack; Coalition also scans policyholders' internet-facing systems for vulnerabilities, alerts them to risks, and provides incident response help, aiming to prevent losses before they happen. Its main customers are small and medium-sized businesses, which are frequent targets of ransomware and email fraud but often lack security teams. In July 2022 it raised US$250 million at a US$5 billion valuation, with Allianz X among the investors, and said it served more than 160,000 customers with over US$775 million in run-rate gross written premium.

Joshua Motta, the CEO, and John Hering founded Coalition in 2017 in San Francisco. Hering previously co-founded Lookout, the mobile security company. Their idea was that combining insurance with technology could both reduce cyber risk and price it more accurately.

Products

• Cyber insurance: policies covering costs from data breaches, ransomware, business interruption and fraud.
• Coalition Control: a security platform that monitors attack surfaces and provides alerts and guidance.
• Incident response: in-house teams that help policyholders respond to attacks.
• Managed detection and response: security monitoring services for businesses.
• Executive risk: additional lines such as technology errors and omissions coverage.

Funding

Coalition raised from investors including Index Ventures, General Atlantic, Ribbit Capital and Durable Capital Partners. In September 2021 it raised a US$205 million Series E at a US$3.5 billion valuation. In July 2022 it announced a US$250 million Series F at a US$5 billion valuation, with Allianz X, Valor Equity Partners, Kinetic Partners and existing investors participating. The funds supported expansion beyond North America, including the UK. We haven't found a newer priced round, so the 2022 valuation should be treated as historical.

Business model

Coalition operates as a managing general agent and, in some markets, through its own insurance carrier, earning commissions and underwriting income on policies sold mainly through insurance brokers. It also earns revenue from security products and services. Its underwriting relies on scanning data to assess each business's exposure, which it argues leads to better risk selection and lower claims.

Competition

Coalition competes with traditional cyber insurers such as Chubb, AIG, Beazley and Travelers; with insurtechs such as At-Bay and Cowbell; and with security vendors offering warranties or guarantees. Its strengths are its integrated security approach, data on many small businesses and strong broker relationships.

Coalition at a glance

Coalition is a San Francisco cyber insurance company founded in 2017 by Joshua Motta and John Hering. It combines insurance with security monitoring and incident response for small and medium-sized businesses. It raised a US$250 million Series F at a US$5 billion valuation in July 2022, with Allianz X among investors.

Timeline

• 2017: founded.
• 2021: becomes a unicorn.
• September 2021: raises US$205 million at US$3.5 billion.
• July 2022: raises US$250 million at US$5 billion; expands to the UK.
• 2023–2026: expands security services and international presence.

How active insurance works

When a business applies for a Coalition policy, the company scans its publicly visible systems, such as websites, email servers and remote access tools, for known vulnerabilities and misconfigurations. That information affects pricing and eligibility. After the policy starts, Coalition keeps monitoring and alerts the business when it finds new risks, such as an unpatched VPN device that attackers commonly exploit. If an attack happens, Coalition's incident response team helps contain it. The goal is fewer and smaller claims, which benefits both the insurer and the customer.

The cyber insurance market

Cyber insurance grew quickly as ransomware attacks surged. In 2021 and 2022, heavy losses led insurers to raise prices sharply and tighten requirements, such as demanding multi-factor authentication. The market has since stabilised but remains volatile, because a single widespread attack could cause losses for many policyholders at once. Insurers that understand and reduce risk through technology have an advantage, which is Coalition's central bet.

Who funds Coalition

Coalition's investors include Allianz X, the digital investment arm of insurer Allianz; venture and growth firms Index Ventures, General Atlantic, Ribbit Capital and Valor Equity Partners; and Durable Capital Partners.

Who uses Coalition

Coalition's customers are mainly small and medium-sized businesses in the US, Canada and the UK, buying through insurance brokers.

Valuation context

Coalition's 2022 valuation was set at the high point of insurtech funding. Public insurtech valuations fell sharply afterwards. Our guide to insurtech startups compares it with peers.

Risks

• Catastrophic events: a large systemic cyberattack could cause widespread losses.
• Pricing cycles: cyber insurance prices can swing with losses.
• Competition: large insurers dominate the market.
• Stale valuation: the last mark is from 2022.

Questions for businesses

• What security controls are required for coverage?
• What incident response support is included?
• How does coverage handle ransomware and business interruption?

Small businesses and cyber risk

Large corporations have security teams, budgets and established insurance programmes. Small and medium-sized businesses often have none of these, yet attackers target them because they're easier to breach. A ransomware attack or a fraudulent payment instruction can threaten a small company's survival. Many small businesses don't know where their vulnerabilities lie or how to respond to an incident. Coalition's model combines a financial backstop with practical help, giving these businesses access to monitoring and expertise that would otherwise be too expensive. Brokers like the model because it gives them something tangible to offer clients beyond a policy document.

Businesses comparing cyber policies should look closely at exclusions, sub-limits for ransomware and social engineering fraud, and the quality of incident response support.

Latest developments (October 2026)

Our October 2026 review found no new priced funding round for Coalition after its 2022 Series F at US$5 billion, which remains the latest sourced valuation. Cyber insurance pricing softened after the sharp increases of 2021 and 2022, and Coalition has continued to expand its active risk monitoring and incident response services alongside insurance in the US, UK, Canada and Europe. With no newer round, the 2022 figure should be read as dated. See our insurtech guide.

What to watch

Watch loss ratios, international expansion, security product growth and any new funding or IPO plans.

Takeaways

Small businesses can get insurance plus security help. Founders can see how combining insurance and technology creates a new model. Investors should treat its valuation as a 2022 mark.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. SecurityWeek
2. Dark Reading