To our extended coalition of customers, partners, and loved ones:
What a year! It was only a short 10 months ago that we had the good fortune to share some good news with you, and now we have even more: $175 million more.
We’re pleased to announce that in February we closed an additional funding round led by Index Ventures and General Atlantic bringing our total funding to $300 million, nearly all of which we retain to pursue the vision we outlined previously and in our (not so) secret master plan.
I couldn’t be more grateful to our customers and partners (insurance brokers, (re)insurers, and beyond) who’ve supported us along the way, and of course to the many stunning colleagues I have the pleasure of working with and for each and every day. It’s hard to believe that four years ago on this very day 🎂 🎈🍰, Coalition was merely a certificate of incorporation (funnily enough, the name “Coalition” didn’t come until many months later).
Like all companies, we were once a fledgling startup – no products, no customers, no office. Now, with over 42,000 customers, 6 (re)insurance partners, $300 million in funding, and not one but two offices (!), I still hope we’ll always be a startup. As Peter Thiel wrote in Zero to One:
“The best startups might be considered slightly less extreme kinds of cults. The biggest difference is that cults tend to be fanatically wrong about something important. People at successful startups are fanatically right about something those outside it have missed.”
What are we fanatically right about?
I believe it’s that we’ve built an ecosystem of optimism and possibilities. Our power comes from our purpose: to protect the value of our customers’ businesses, and to provide security for all. And our approach works. Not every time, but always. The result has been growth far greater than we ever could have anticipated.
How did this happen?
We are focused. Very, very, very focused. Last year we only did only one thing: solve cyber risk. Imagine a team of nearly 200 people focused every single day on just one thing. That’s powerful. And so that’s what we’ll use this infusion of capital for: more of the same. We’re going to keep building the insurance company of the future: one that not only provides you with peace of mind, but peace from mind. From the silent ruminations: “Are we secure? Will we survive the unknown?”
I believe that in the decades ahead Coalition will help as many organizations as possible answer those questions decisively and affirmatively starting with cyber risk, but eventually other areas of risk as well. We’re going to keep working hard. Keep delighting and occasionally surprising you — the same surprised delight hundreds of our policyholders experienced this week as we helped secure them against the recent Microsoft Exchange 0-days. Keep leading with integrity. Keep taking pride in our work, while maintaining complete humility before the magnitude of the task in front of us. And of course, keep hiring humble and insanely talented people who share our vision and continue to bring us up to the next level. We innovate to prepare for an uncertain future, focused on an expanded mission in 2021: security for all.
Founder and CEO, Coalition Inc.