Coro Secures $100 Million in Series D Funding to Expand Cybersecurity Solutions for SMEs

For quite some time, enterprises and other sizable organizations have been prime targets for cybercriminals. However, with the advent of more advanced breach methods and the emergence of AI, small and medium-sized businesses have also become prominent targets. Coro, a startup dedicated to crafting tools tailored for smaller businesses, is now making headlines by securing significant funding. Its recurring revenues have surged by an impressive 300% over the past year, prompting the company to announce a substantial Series D funding round, raising $100 million. According to insiders familiar with the deal, Coro's post-money valuation now exceeds $750 million.

Series D funding, spearheaded by One Peak and joined by existing backers Energy Impact Partners and Balderton Capital, has propelled Coro's total funds raised to $255 million within the past two years. Notably, despite being the primary investor in the company, JVP opted out of participating in the Series D, enabling One Peak to secure a more substantial stake.

Coro stands as a comprehensive cybersecurity solution, offering SMEs an enterprise-grade security software platform that encompasses endpoint protection, email and user protection, as well as network and cloud protection. SMEs confront a rising tide of cyber threats, characterized by increasing volumes and complexities, yet often lack affordable solutions to safeguard their technological infrastructure. Coro's user-friendly platform empowers IT teams and their partners with round-the-clock automated protection at an accessible cost.

The steadfast commitment of Coro to fortify and support SMEs has been pivotal to its triumph, fueling impressive expansion and positioning Coro as a leader in the market within a remarkably short timeframe. In 2023, Coro significantly broadened its customer base across various industry verticals, achieving a remarkable threefold year-over-year growth for the fifth consecutive year. Furthermore, Coro garnered recognition by being listed in the inaugural Fortune Cyber 60 and the 2023 Deloitte Technology Fast 500, underscoring its distinction as one of the fastest-growing cybersecurity firms in North America.

“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,” said Guy Moskowitz, CEO, Coro. “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.”  

“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,” stated Yoav Tzruya, General Partner at JVP, and Coro’s Board Member. “We look forward to collaborating with OnePeak, EIP and Balderton in building Coro as a disruptive company in the cybersecurity market.”