BinaryEdge has been acquired by the cyber insurance provider Coalition, announced a statement. The Zurich startup specializes in cybersecurity and has developed a solution that can identify cyber threats and create security. Coalition is using BinaryEdge’s technology to continuously monitor the over 10,000 companies that are currently insured with the American company.
“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,” commented Joshua Motta, CEO of Coalition.
For BinaryEdge, the acquisition means further growth, as CEO Tiago Henriques writes in a blog post. The Zurich-headquartered company plans to strengthen its team and develop its solution.