Coro, a leading cybersecurity platform purpose-built for small and medium-sized enterprises (SMEs), announced it had secured $100 million in Series D funding led by One Peak. Existing investors Energy Impact Partners and Balderton Capital also participated. The company has raised $255 million in the last two years, including this funding round.
This new funding round will reinforce Coro’s market dominance and accelerate the goal of empowering SMEs and their service providers with enterprise-grade cybersecurity that’s accessible to all.
Coro is an all-in-one cybersecurity solution that provides SMEs with an enterprise-grade security software platform for endpoint protection, email and user protection, and network and cloud protection. SMEs face increasing volumes and complexity of cyber attacks and lack affordable solutions to protect their tech stack adequately. Coro’s easy-to-use platform enables IT teams and their partners to be protected 24/7 in an automated and affordable way.
Last year, Coro expanded its customer base across every industry vertical, achieving three times year-over-year growth for a record fifth year.
The new funding round will be used to:
- Following the successful acquisition of Privatise in 2023, Coro will continue to develop industry-leading security solutions tailored specifically for the SME market through organic growth and strategic acquisitions.
- Coro will further strengthen its channel partner program, providing additional support and resources for its North American MSP and reseller network.
- Establish local marketing and channel teams and invest in brand awareness to support Coro’s international partners.
In October 2023, Coro launched a new cybersecurity paradigm with the launch of Coro 3.0, the industry’s first modular cybersecurity platform. Coro 3.0 offers fourteen seamlessly integrated modules—from EDR to SASE to email security—that can be activated on demand to grow with a company’s needs.
Coro’s modular platform consolidates critical security capabilities into a single pane of glass, data engine, and endpoint agent, making deployment and management effortless.
Coro also invested extensively across North American sales and channel organizations last year. The company added 300 new channel partners, expanded its channel headcount by nearly 500%, and established a business enablement center in Chicago to support its direct sales and channel partner ecosystem.
The company also expanded globally, opening its UK R&D Center and data centers in Canada and Germany to facilitate the regional expansion of channel partnerships and customers.
KEY QUOTES:
“As a growth investor, we look for companies that target large, underserved markets and are in a prime position to dominate that field. 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.”
- David KIein, Co-founder and Managing Partner, One Peak
“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.”
- Guy Moskowitz, CEO, Coro
“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. We look forward to collaborating with OnePeak, EIP and Balderton in building Coro as a disruptive company in the cybersecurity market.”
- Yoav Tzruya, General Partner at JVP, and Coro’s Board Member
“We are delighted to continue to support Coro as the leader in providing cybersecurity solutions to SMEs. We believe that providing protection and peace of mind to this segment of the market is critical to economic growth.”
- Rana Yared, General Partner, Balderton Capital
“We are excited to continue our journey with Coro. We expect that the unwavering focus on SMEs, the most underserved segment in the cybersecurity market, coupled with the team’s phenomenal execution, will ensure Coro’s dominance in this market.”
- Shawn Cherian, Partner at Energy Impact Partners
