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San Francisco-based Coalition Inc., which provides cyber liability insurance and security, said Wednesday it has received an additional $175 million capital infusion with which it plans to invest in the company, add new product lines and further expand internationally.
It said the funding is led by San Francisco and London-based Index Ventures, with participation from New York-based General Atlantic Service Company LP and the company’s existing investors. Coalition said in its statement the capital infusion brings the company’s total valuation to $1.75 billion.
Joshua Motta, CEO and co-founder, said with the funding, Coalition plans to launch new insurance products to address a range of risks that are not well covered by standard business insurance policies.
It also plans to expand its offerings into multiple international markets beyond Canada, which it expanded into last year.
The company said last month it had entered into a multiyear partnership with an Arch Capital Group Ltd. unit to provide additional capacity.