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Cyber insurer Coalition raises $10M in initial funding round

Coalition Inc., a technology-enabled cyber insurance solution, has raised $10 million in series A funding.

Several technology investors including Vy Capital; Ribbit Capital; Valor Equity Partners LP; Sam Altman, president of Y Combinator; and Deep Nishar, senior managing director at Softbank Vision Fund, participated in the San Francisco-based company's initial round of financing.

Coalition was founded by Joshua Motta and John Hering, and offers cyber insurance products supported by the financial strength of Swiss Re Corporate Solutions and Argo Group. The company began offering insurance and cybersecurity to small to midsize businesses in November 2017 and is licensed to offer insurance nationwide.