Coalition Buys BinaryEdge|
January 22, 2020
has acquired Internet scanning and cybersecurity pioneer BinaryEdge.
Coalition will integrate BinaryEdge’s technology with its cyber
insurance and security platform, allowing Coalition policyholders to
easily map their Internet attack surface, monitor risk exposures in
real-time, and proactively fix vulnerabilities so that they can stay one
step ahead of their adversaries.
Although the recent data breaches at Facebook, Capital One, and Travelex
dominate the news, small and midsize businesses (SMBs) are the most
frequent targets of cyber attacks. More than 30 million SMBs in the U.S.
alone are online everyday, and yet most lack the tools to protect
themselves. SMBs are also the least equipped to recover from a cyber
attack, where the financial and operational consequences can be
With the acquisition of BinaryEdge, Coalition is now able to offer 24/7
security monitoring to safeguard an organization, as well as
comprehensive insurance coverage for technology failures and cybercrime.
The result for Coalition policyholders is far lower costs to detect,
contain, and recover from a data breach, and fewer losses and claims.
“While most insurers only respond after an incident, Coalition is now
uniquely positioned to provide organizations with the data and tools
they need to prevent and mitigate losses before they occur,” said Joshua
Motta, CEO of Coalition. “Coalition is the only provider of cyber
insurance to truly combine cybersecurity with insurance, working with
policyholders as a dedicated risk management partner before, during and
after an incident.”
immediately, Coalition is using BinaryEdge’s Internet scanning
technology to continuously monitor the over 10,000 and growing
organizations that have selected Coalition as their insurance provider.
Every day, Coalition maps and scans each policyholder’s Internet attack
surface, finds risk exposures and vulnerabilities, and provides
real-time threat intelligence and alerts to reduce the likelihood that
an organization is compromised. Coalition customers are often notified
and informed how to fix a vulnerability in a manner of hours, a process
which previously took most organizations weeks or months.
“The security paradigm is changing. Hackers are moving faster than the
most sophisticated security professionals can respond,” said Tiago
Henriques, CEO and founder of BinaryEdge. “In this new world, the
accuracy of security information and the speed of remediation are
critical, and as important as maintaining proper security protocols in
the first place. We’re thrilled to join the most advanced provider of
cyber insurance in the market to democratize access to these tools.”