Coro, the leading cybersecurity platform purpose-built for small and medium-sized enterprises (SMEs), announced it has secured $100 million in Series D funding led by One Peak, with participation from existing investors Energy Impact Partners and Balderton Capital. This funding round brings the total funds raised to $255 million in the last 24 months. The new investment will reinforce Coro’s market dominance and accelerate its mission to empower SMEs and their service providers with enterprise-grade cybersecurity that’s accessible to all.
Coro is an all-in-one cybersecurity solution offering an enterprise-grade security software platform to SMEs covering endpoint protection, email & user protection and network & cloud protection. SMEs are facing increasing volumes and complexity of cyber attacks, and lack affordable solutions to help them adequately protect their tech stack. Coro’s easy-to-use platform enables IT teams and their partners to be protected 24/7 in an automated and affordable way.
Coro’s dedication to protecting and empowering SMEs has been a cornerstone of its success, driving remarkable growth and catapulting Coro to a market leadership position within a few short years. In 2023, Coro expanded its customer base across every industry vertical, achieving 3X year-over-year growth for a record fifth year in a row. Coro was named to the inaugural Fortune Cyber 60 and to the 2023 Deloitte Technology Fast 500, in recognition of its achievements as one of the fastest growing cybersecurity companies in North America.
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The new funding will be used to:
- Fuel product innovation: Coro will continue to develop industry-leading security solutions tailored specifically for the SME market through both organic growth and strategic acquisitions, following the successful acquisition of Privatise in 2023.
- Empower channel partners: Coro will further strengthen its channel partner program, providing additional support and resources for its North American MSP and reseller network.
- Accelerate global expansion by establishing local marketing and channel teams and investing in brand awareness to support Coro’s international partners.
“As a growth investor, we look for companies that target large, underserved markets and are in prime position to dominate that field,” said David KIein, Co-founder and Managing Partner, One Peak. “Coro has already achieved phenomenal growth and success in the SME market. We are convinced that Coro has the right tech stack, a world class management team, and unlimited potential to scale the business to the next level. We’re excited to partner with Coro to help them execute on their vision and support the team in their next leg of explosive growth.”
“Now that Coro is established as a cybersecurity powerhouse for the SME market, the next step on our journey is to offer this radical approach to as many organizations as possible,” said Guy Moskowitz, CEO, Coro. “The best way we can enable this is through our world-class global network of partners, who can launch Coro’s ease of use and simplicity at scale, bringing the current chaos of managing cybersecurity to a halt.”
“As the founding investor of Coro, we at JVP have been fortunate to collaborate with Guy and the management team on building a true category leader in cybersecurity for SMEs. We aim to turn Coro into a multi-billion-dollar company, as we’ve done multiple times before,” stated Yoav Tzruya, General Partner at JVP, and Coro’s Board Member. “We look forward to collaborating with OnePeak, EIP and Balderton in building Coro as a disruptive company in the cybersecurity market.”
SOURCE: Businesswire