Coro secures $60M Series C to bring non-disruptive, AI-powered cyber security to every mid-market business

APR 05, 2022

The new round is led by Balderton with participation from existing investor Jerusalem Venture Partners (JVP).

Coro's powerful cyber security platform was built from the ground up to address the gaping cyber security holes in the mid-market and SMB segments, which are targeted by 70% of cyberattacks.

Coro has stepped up to protect the millions of companies neglected by the cyber security industry by removing the three barriers inherent to the status quo: price, complexity, and the need for a dedicated cyber security team. Unlike current cyber security solutions such as anti-malware or phishing protection, which are focused on specific threats, Coro is the first SaaS solution to include all the security needed for a mid-sized business to protect its users, devices, email, and cloud applications.

The platform uses AI to offload 98% of the security workload from IT onto Coro automation and is offered as a monthly subscription for only $7 per user, which makes enterprise-grade security available to any business.

Faced with limited security expertise, staff, and budgets, mid-market companies are forced to choose between impossibly expensive and labor-intensive enterprise solutions or piecemeal off-the-shelf solutions that cover only a small portion of their attack surface – and neither of these options offers true protection.

Guy Moskowitz, CEO, Coro

Coro is the only company in the cyber security industry that is dedicated to servicing the mid-market sector with a solution that is at once affordable, easy-to-implement, and truly comprehensive, enabling mid-sized businesses to protect themselves in the midst of an increasingly complex cyber security environment.

Rana Yared, General Partner, Balderton

The Coro co-founders. From L-R: Doron Milchtaich, Chief Customer Officer; Prof. Carmel Domshlak, VP Product; Guy Moskowitz, CEO; Dror Liwer, CMO

Coro is poised to dominate this immense and hugely underserved segment of the market, and we believe that their growth will continue at an exponential rate. We are excited to partner with Coro’s innovative team and participate in their journey to make non-disruptive security a mainstay of growing businesses across industries.

Rana Yared, General Partner, Balderton

Coro grew its customer base threefold in 2021. This past year, the company saw significant growth in every one of the industries it serves, with a rapidly expanding customer base in financial services, transportation and logistics, healthcare, retail, education, manufacturing, and professional services. Coro also recently garnered top scores in the G2 Winter 2022 Grid® Reports, ranking #1 for both Usability and Implementation.

The funds will be used to further accelerate company growth, which has already seen significant momentum with 300% year-over-year growth for each of the past three years and into 2022. Expansion plans include aggressive hiring to triple the Coro team globally, with an emphasis on its Chicago operations.

Coro is quickly becoming the standard cyber security platform for mid-market companies, with thousands of installations protecting millions of devices and phenomenal growth across the board. With this latest round, we will further enable mid-sized companies to operate in the midst of an increasingly sophisticated and aggressive cyber landscape with genuine peace of mind and refocus critical resources on running successful businesses instead of on managing cyber security.

Guy Moskowitz, CEO, Coro

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