Cyber risk specialist Coalition raises $250M; total valuation at $5B

Insurtech Coalition Inc., a managing general agent specializing in cyber risk, said Friday it has raised an additional $250 million in capital, which increases its total valuation to $5 billion.

Participating in the funding round, which ended in June, were Allianz SE unit Allianz X, Chicago-based Valor Equity Partners, New York-based Kinetic Partners LP and other existing investors, the company said in a statement.

San Francisco-based Coalition said the funding will be used to accelerate growth, for international expansion and to broaden its services.

Allianz said last month it has started a multiyear partnership with Coalition Inc. under which it will provide Coalition with long-term committed capacity for its U.S. cyber programs and lead Coalition’s U.K. cyber program when it launches later this year.