Funding round
Coalition Series C
Coalition, which works in cyber insurance underwriting in San Francisco, raised $90M in a Series C round announced on 20 May 2020, led by Valor, at a $890M post-money valuation. 3 firms took part, 3 of them already investors. It is Coalition's second venture round on record; the one before was a Series A in Feb 2018.
$90M
Amount raised
$890M
Post-money valuation
3
Investors
1 lead
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Coalition at $890M after the new money. The $90M bought investors about 10% of the company. It came 27 months after Coalition's Series A. It is 12% of the $730M Coalition has raised in the venture rounds on record. Coalition raised again 10 months later: a Series D round of $175M in Mar 2021, at $1.75B post-money.
Coalition's funding rounds
Coalition has 5 venture rounds on record. This one is highlighted.
- Series A 28 Feb 2018 $10M
- Series C this round 20 May 2020, led by Valor $90M$890M post-money
- Series D 17 Mar 2021, led by Index Ventures $175M$1.75B post-money
- Series E 28 Sep 2021, led by Durable Capital Partners, T. Rowe Price Associates and Whale Rock Capital $205M$3.50B post-money
- Series F 8 Jul 2022, led by Allianz X, Valor and Kinetic Partners $250M$5.00B post-money
Investors
Who put money in
Valor led the round with 2 other firms. Valor, Felicis and Greyhound Capital had backed Coalition before.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
14 Series C rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $74M, and this round was 1.2 times the median. The closest in time, other companies' Series C rounds in Insurance - Agents, Carriers & Brokers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Alan Insurance - Agents, Carriers & Brokers | 20 Apr 2020 | $54M | not disclosed | Temasek |
| Devoted Health Insurance - Agents, Carriers & Brokers | 1 Jul 2020 | $380M | not disclosed | Uprising |
| Insurance - Agents, Carriers & Brokers | 3 Mar 2020 | $38M | not disclosed | Brewer Lane Ventures |
| Insurance - Agents, Carriers & Brokers | 18 Mar 2020 | $25M | not disclosed | Susquehanna International Group and Huaxing New Economic Fund |
| Insurance - Agents, Carriers & Brokers | 5 Feb 2020 | $39M | not disclosed | Accel |
| Insurance - Agents, Carriers & Brokers | 3 Jan 2020 | $50M | not disclosed | OMERS Ventures |
| Insurance - Agents, Carriers & Brokers | 7 Oct 2019 | $250M | $1.00B | Munich Re |
| Insurance - Agents, Carriers & Brokers | 8 Dec 2020 | $34M | not disclosed | Qumra Capital |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Coalition raise in its Series C round?
Coalition raised $90M in its Series C round, announced in May 2020.
Who led Coalition's Series C round?
Valor led it, with Felicis and Greyhound Capital.
What was Coalition's valuation at the Series C round?
$890M post-money.
How does it compare with other Series C rounds in Insurance - Agents, Carriers & Brokers?
14 Series C rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $74M, and this round was 1.2 times the median.
Did Coalition raise again after this round?
Yes: a Series D round in Mar 2021 of $175M at $1.75B post-money.