Coro, a New York-based startup, has successfully secured a $100 million Series D funding round. This brings the up-and-coming cybersecurity firm’s total funding to $255 million over just the past two years.
It marks a significant step forward in the startup’s mission to democratize enterprise-grade cybersecurity solutions for small and medium-sized businesses. One Peak led the landmark funding round, supported by existing investors in the form of Energy Impact Partners and Balderton Capital.
Revolutionizing Cyber Protection for SMEs
Coro’s key USP is offering a simplified, all-in-one platform for managing cybersecurity. This makes it more accessible to the SME segment, where complexity and a lack of expertise have been stubborn obstacles as much as cost.
Instead of acquiring and integrating multiple segmented tools from a range of vendors, Coro offers a unified solution based on a modular architecture. This allows customers to customize solutions while reducing the need for training employees and greatly simplifying implementation.
This innovative approach consolidates essential security capabilities such as endpoint protection, EDR (Endpoint Detection and Response), email security, and SASE (Secure Access Service Edge) into 14 interchangeable modules. These modules can be rapidly activated with just a click, providing a seamless, scalable solution as a company grows.
Coro’s One-dashboard management system acts as a unified agent for all endpoints as well as an AI-driven data engine for robust security across the organization’s cloud apps. This allows companies to secure their endpoints, email, data, network, and users with a single system.
Expanding Reach and Capabilities
With this latest injection of funds, Coro plans to significantly expand its global footprint, particularly its presence in Europe and North America. The company aims to increase its employee count by 150 in the coming year, supplementing its existing 350-strong workforce.
Additionally, Coro will enrich its product offerings through both organic development and strategic acquisitions. It hopes to build on its successful merger with the SASE company Privatise in 2023.
As Coro CEO Guy Moskowitz puts it, “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. 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.”
From Strength to Strength
Coro’s approach has already borne results, tripling its customer base across various industries over the span of five years. The company's efforts have also not gone unnoticed. Its recent accolades include its addition to Fortune Cyber 60 and the 2023 Deloitte Technology Fast 500.
With new funding, Coro is set to further its product innovation and bolster its channel partner program, accelerating its global expansion. Next is seeing whether these moves will solidify Coro’s leadership role in the SME cybersecurity market, providing businesses with the tools they need to protect themselves in an ever-evolving threat landscape.
