New funding, led by One Peak, to accelerate global expansion, R&D innovation and investment in Coro’s strategic partnerships and channel.
Coro, a leading cybersecurity platform purpose-built for SMEs has secured $100m 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 is recognized as one of the fastest growing cybersecurity companies in North America.
The new funding will be used to:
1. Fuel product innovation: Continued development of security solutions tailored specifically for the SME market through both organic growth and strategic acquisitions, following the successful acquisition of Privatise in 2023.
2. Empower channel partners: Further strengthening of channel partner program providing additional support and resources for North American MSP and reseller network.
3. 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.
Guy Moskowitz, CEO, Coro, said: “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.”
Yoav Tzruya, Coro Board Member and General Partner at JVP, Coro’s founder investor, said: “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.”
Rana Yared, General Partner, Balderton Capital, said: “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.”
Shawn Cherian, Partner at Energy Impact Partners, said: “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.”
2023: Establishing leadership in SME cybersecurity
2023 was a year of milestones and achievement for Coro.
In October 2023, Coro created 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, a single data engine and most importantly, a single endpoint agent, making deployment and management effortless.
Coro also invested extensively across its North American sales and channel organizations in 2023, adding 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 with the opening of its UK R&D Center and data centers in both Canada and Germany to facilitate the regional expansion of both channel partnerships and customers.
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