Today marks the release of CB Insights’ annual Fintech 250, a prestigious list of emerging private companies working on groundbreaking financial technology, and we are thrilled to announce that Coalition has made the list for the second consecutive year.
Through an evidence-based approach, the CB Insights Intelligence Unit selected the Fintech 250 from a pool of 16,000 companies, including applicants and nominees, based on several factors. These factors include patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength, and tech novelty. The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum.
Coalition was recognized for our unique product offering that combines best-in-class insurance and proactive cybersecurity tools to help mitigate losses, while also preventing incidents from occurring in the first place. Cyber losses cost the global economy upwards of $1.5 trillion each year, of which $100B are losses to financial institutions.
While all industries face a growing risk of cyber exposure, the financial services sector is particularly vulnerable. From ransomware campaigns, to distributed denial of service (DDoS) attacks, to funds transfer fraud — cyber criminals are increasingly targeting financial institutions due to their direct access to cash. While many have robust cybersecurity solutions in place, few carry cyber insurance coverage.
We hope to change that. Being featured on CB Insights Fintech 250 for a second time is further proof of the critical role cyber insurance plays in an organization's overall risk management strategy. We are on a mission to help every industry, including financial services, strengthen their resilience to attack, both before, during, and after a claim is filed.
We’re always looking for new team members — people who are passionate about solving cyber risk and willing to tackle big problems. If that sounds interesting, check out our job postings.