San Francisco based Coalition, a cyber risk solution provider that helps companies reduce and manage potential tech threats, raised more money to continue its efforts.
The $40 million in venture funds was raised by Greenoaks Capital Management, Hillhouse Capital Group and Ribbit Capital, which lead the round.
Coalition says it plans to add more engineers, researchers and designers to help it continue its mission to solve cyber risks to its customers. It is backed by A+/A rated insurers Swiss Re Corporate Solutions and Argo Group. It provides insurance coverage to all 50 states.
Coalition is led by CEO and Co-founder Joshua Motta and co-founded by John Hering.