Coro, the leading cybersecurity platform designed specifically for small and medium-sized enterprises (SMEs), has announced the successful completion of its Series D funding round, raising an impressive $100 million. One Peak led the funding, with continued support from existing investors Energy Impact Partners and Balderton Capital.
This latest investment round brings the total raised funds to a substantial $255 million in the last 24 months, highlighting the growing confidence in Coro’s mission and capabilities.
The influx of new capital will further solidify Coro’s position as a market leader and expedite its goal of providing SMEs and their service providers with top-tier cybersecurity solutions that are accessible to all.
Coro prides itself on being an all-in-one cybersecurity solution, offering SMEs an advanced security software platform that covers endpoint protection, email and user protection, as well as network and cloud protection.
SMEs are increasingly vulnerable to complex cyber attacks and often struggle to find affordable security solutions to safeguard their technology infrastructure. Coro aims to address this gap by offering an easy-to-use platform that ensures IT teams and partners are protected around the clock in an automated and cost-effective manner.
Driven by its commitment to safeguarding and empowering SMEs, Coro has experienced significant growth, securing a prominent position in the market within a short span of time. In 2023, the company expanded its customer base across various industries and achieved remarkable 3X year-over-year growth for the fifth consecutive year.
The newly secured funding will be utilized for the following purposes:
- Fueling product innovation: Coro will continue to develop cutting-edge security solutions tailored specifically for the SME market through organic growth and strategic acquisitions, following the successful integration of Privatise in 2023.
- Empowering channel partners: Coro will enhance its channel partner program, offering additional support and resources for its North American MSP and reseller network.
- Accelerating global expansion: By establishing local marketing and channel teams and investing in brand awareness initiatives, Coro aims to support its international partners and expand its presence globally.
David KIlein, Co-founder and Managing Partner at One Peak, commented on the recent funding:
“As a growth investor, we seek companies that target underserved markets with significant potential for dominance. Coro has demonstrated exceptional growth and success in serving the SME market. We are confident in Coro’s technology stack, management team, and limitless scalability potential. We look forward to collaborating with Coro in realizing their vision and supporting them in their next phase of exponential growth.”
Guy Moskowitz, CEO of Coro, also shared his thoughts on the company’s future direction:
“Having established Coro as a cybersecurity leader for SMEs, our next objective is to expand our innovative approach to a wider range of organizations. Achieving this goal hinges on our global network of partners, who can effectively introduce Coro’s user-friendly and efficient solutions on a large scale, putting an end to the complexities of cybersecurity management.”
The modular platform offered by Coro streamlines critical security capabilities into a single interface, data engine, and endpoint agent, simplifying deployment and management processes for users.