Coro, the cybersecurity platform for small and medium-sized enterprises (SMEs), has secured $100 million in Series D funding. The investment will be used to strengthen Coro's position in the market and expand its accessible cybersecurity solutions for SMEs.
Coro Raises $100 Million in Series D Funding to Provide Cybersecurity Solutions for SMEs
( Credit to: Crowdfundinsider )
Coro, the cybersecurity platform designed specifically for small and medium-sized enterprises (SMEs), has announced that it has raised $100 million in Series D funding. The funding round was led by One Peak, with participation from existing investors Energy Impact Partners and Balderton Capital. This brings the total funds raised by Coro to $255 million in the last two years.
The new investment will be used to strengthen Coro's position in the market and further its mission of providing accessible enterprise-grade cybersecurity to SMEs and their service providers. Coro offers an all-in-one cybersecurity solution that covers endpoint protection, email and user protection, and network and cloud protection.
Addressing the Cybersecurity Challenges Faced by SMEs
SMEs are increasingly facing complex and frequent cyber attacks, yet often lack affordable solutions to adequately protect their technology infrastructure. Coro aims to address this issue by providing an easy-to-use platform that offers 24/7 automated and affordable protection for IT teams and their partners.
Coro's dedication to protecting and empowering SMEs has been instrumental in its success. The company has achieved remarkable growth and has become a market leader within a short span of time. In 2023, Coro expanded its customer base across various industries and achieved three times year-over-year growth for the fifth consecutive year.
Investing in Product Innovation and Strategic Acquisitions
The new funding will be utilized to focus on product innovation and develop industry-leading security solutions tailored specifically for the SME market. This will be done through organic growth and strategic acquisitions, following the successful acquisition of Privatise in 2023.
Additionally, Coro will strengthen its channel partner program, providing additional support and resources for its North American managed service provider (MSP) and reseller network. This will empower channel partners to effectively promote and distribute Coro's cybersecurity solutions.
Global Expansion and Strengthening Partnerships
The funding will also support Coro's global expansion efforts. The company plans to establish local marketing and channel teams in various regions and invest in brand awareness to support its international partners.
David Klein, Co-founder and Managing Partner at One Peak, expressed confidence in Coro's potential for growth and dominance in the SME market. He emphasized that Coro has the right technology, a world-class management team, and unlimited potential to scale the business to the next level.
Guy Moskowitz, CEO of Coro, highlighted the company's goal of making their radical approach to cybersecurity available to as many organizations as possible. Moskowitz emphasized the importance of Coro's global network of partners in achieving this goal and bringing simplicity to the management of cybersecurity.
Continued Growth and Accessibility for SMEs
Coro's modular platform consolidates critical security capabilities into a single interface, data engine, and endpoint agent, making deployment and management effortless for users.
With this latest funding, Coro is well-positioned to continue its growth trajectory and provide much-needed cybersecurity solutions to SMEs worldwide.
