Cyber insurance provider Coalition raises $250 mn in VC funding

Coalition, a cyber insurance provider, has raised $250 million in a late-stage VC funding round.
VC funding for tech
The five-year-old company, which helps over 160,000 organizations mitigate digital risk as its insurance product offers cybersecurity tools too, saw its revenue growth nearly triple from last year, according to its statement.

Allianz X, Valor Equity Partners, Kinetic Partners were among the investors in Coalition’s series F round that brought the total capital raised by the firm to $755 million. The company also counts T. Rowe Price, Ribbit Capital, Index Ventures, General Atlantic among its prominent backers.

Axonius and Jupiterone also raised millions of dollars this year as venture capital investors raced to cash in on the upswing in the digital security sector.

Private equity firm Thoma Bravo planned to acquire SailPoint Technologies for $6.12 billion, the cybersecurity firm said in April.