Dear extended Coalition team,
We’re thrilled to announce some news: we’ve received a $10M Series A investment from leading global investment firms Vy Capital, Ribbit Capital, and Valor Equity Partners, as well as notable technologists such as Sam Altman (President of Y Combinator) and Deep Nishar (former Head of Product at LinkedIn, and current Senior Managing Director at Softbank Vision Fund).
Why? Put simply: we’re on a mission to solve cyber risk. As we’ve mentioned before, this doesn’t mean solving cyber security failures, but instead helping companies prevent, survive, and recover from them. It’s why everyone on the growing Coalition team shows up every morning in our various offices across the country. We love what we do, we love helping our broker partners and policyholders, and we love every opportunity we get to help you patch your systems, configure your security, and dream up new insurance coverages to help you do what you do best: run your business. It may not be everyone’s dream job, but it’s what we want to do over and over, for years to come.
So, that’s what we’ll use this infusion of capital for: more of the same. Just keep building the insurance company of the future: the one that works for you and with you. Keep working hard. Keep delighting and occasionally surprising you (in a good way!). Keep leading with integrity. Keep taking pride in our work, while maintaining complete humility before the magnitude of the task in front of us. And for sure, keep hiring humble, talented people, who share our vision and continue to bring us up to the next level (did I mention we’re hiring?).
It’s been a wild 11 months since we founded the company. In September we joined forces with Swiss Re, one of the world’s largest reinsurers, and Argo Group. By December we’d launched our insurance and risk management platform for insurance brokers and policyholders. By February we announced a partnership with HackerOne to provide hacker-powered security to all of our customers, at no cost. And in just the couple months since we’ve been writing insurance, we’ve underwritten thousands of companies, detected hundreds of vulnerabilities, and removed dozens of devices and remote access points off of the Internet.
Our security team especially likes helping our customers remove remote access to their computers
Thank you for your support, your faith in us as we strive for continual improvement, and most importantly, for choosing to insure with us. It takes a coalition to build Coalition.