Coro, a cybersecurity platform, has pulled in $75m from its latest funding raise to bring its total funding over the last year to $155m.
From the recent funding round, Coro added Energy Impact Partners to its current investors alongside Balderton Capital and JVP.
The company claims its modern approach to cybersecurity – delivering enterprise grade security through a single platform that unifies, simplifies and automates workloads — has been validated by more than 5000 mid-market customers across every vertical industry.
Over the past year, Coro tripled its revenue, customer and employee base, and signed more than 100 new channel partners. The Company also expanded its footprint in Chicago, where a new business enablement center is under development to support the company’s direct sales team and rapidly growing network of resellers. Coro projects it will again grow 300% year-over-year in 2023, extending its extraordinary record to a 5th year in a row.
Coro said stepped up to protect the hundreds of thousands 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.
The firm claims it is the first SaaS solution to include all the security needed for a mid-sized business to protect its users, devices, email, data, and cloud applications.
Coro will use the new funding to support its rapidly growing customer base and drive growth across its R&D, channel, sales and service teams. The new capital, the firm claims, will also enable it to continue to expand the capabilities of its cybersecurity platform, both organically and through strategic acquisitions.
Coro CEO Guy Moskowitz said, “The additional funding is a validation that Coro’s disruption of the cybersecurity industry is succeeding. While many cybersecurity vendors tried to address the mid-market by selling traditional products that were designed for an enterprise cybersecurity team to manage, Coro took a completely different route.
“Our modern approach to cybersecurity, where one platform automatically addresses all aspects of cybersecurity, was built from the ground up to ensure that mid-market companies can get enterprise-grade protection without the complexity, workload or inflated price tag.”
Elsewhere in the cyber space, SpecterOps has recently secured $25m for its Series A funding round, which was led by Decibel.
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
