Coalition raises $205 million

San Francisco-based cybersecurity insurance start-up Coalition has raised $205 million of Series E venture funding, valuing the company at more than $3.5 billion. The round was co-led by Durable Capital, T. Rowe Price and Whale Rock Capital.

This is the company’s second fundraiser this year, Coalition closed a $175 million Series D round at a $1.75 billion valuation led by Index Ventures on February 1, 2021.

Coalition doubled its customer base in the past year and now provides cybersecurity tools and insurance to help manage cyber risk to more than 50,000 customers. The company states its policyholders experience less than one-third the claim frequency compared to other cyber insurance providers.