Coalition is a cybersecurity and insurance company that helps businesses manage and mitigate cyber risk. Businesses are just one fund transfer fraud, ransomware, or email compromise away from exposure. They need the most comprehensive cyber protection and that’s Coalition. Coalition’s proactive cybersecurity platform includes 24/7 monitoring, employee training, and security services to prevent cyber incidents before they occur and to help mitigate them when they do-all for free.
Coalition protects the value of an entire business including financial, intangible, and tangible damage, with up to $15M of the most comprehensive cyber insurance available. To learn more visit www.coalitioninc.com
3FORTY3 Executive Search Summary
Searches Completed: Chief Marketing Officer (CMO)
Cyber security and online risk is a massive and ongoing problem. Data breaches, ransomware, and fraudulent transfers are existential risks to the well-being of any institution. Companies face increasing pressure to adapt and to adopt new technology to mitigate and to transfer these risks. As such, companies now spend over $140B annually on cybersecurity technology.
Cyber security insurance is an explosive and accelerating market, and it now constitutes approximately $25B of the overall $1.6T insurance market. Meanwhile, the insurance industry hasn’t had a meaningful new competitor in a century, and the legacy insurance companies do not have the technical capacity to monitor their customers’ worldwide data exposure and risk in real
time. This is Coalition’s key advantage. Coalition has built the technology to track and trace every object on the global internet – over eight billion objects – simultaneously and in real time, and the company is already doing so. This means the marginal cost of providing this data to clients is zero, allowing Coalition to deliver its product for free.
Coalition’s customers enjoy its free real time data and threat monitoring product to inform their ongoing purchases of Coalition’s recurring cyber insurance policies. Without the expensive legacy overheads, Coalitions offers cheaper and more attractive insurance than the competition.
The combination of Coalition’s ongoing cybersecurity capability and its attractive insurance has resulted in extremely high customer retention rates (over 90% renewal rates).
Since its founding in 2017, Coalition has grown exponentially with over 25k customers globally and an expansion into Canada. The company is projected to generate $100M+ in revenue in 2021. Coalition closed a $90M Series C round of financing in May 2020, at a $890M valuation, and is backed by Valor Equity Partners, Felicis Ventures, Greyhound Capital, Vy Capital, Ribbit Capital, and Hillhouse Capital.