Coalition, the leading cyber insurance company for small and midsize businesses, announced it has closed a $40 million funding round. Coalition aims to solve cyber risk for all organizations by democratizing access to cybersecurity tools that prevent and mitigate loss, along with expert incident response and comprehensive insurance coverage should all else fail. Coalition will scale this global platform to provide cybersecurity risk management tools to any organization for free. “Cyber losses cost the global economy an estimated $1.5 trillion each year, forcing thousands of SMBs to close their doors after experiencing a security failure,” said Joshua Motta, CEO and Co-Founder at Coalition. While companies can’t eliminate cyber risk, they can eliminate the cost of it.” The new investment will also be used to triple Coalition’s engineering and incident response team over the next year.