Fintech

Coro Secures $100 Million Series D Funding to Strengthen Cybersecurity for SMEs

Coro Secures $100 Million in Series D Funding to Strengthen Cybersecurity Offerings for Small and Medium-Sized Enterprises

By Business OutstandersPUBLISHED: March 28, 17:31
Coro Leadership Team
Coro Leadership Team (Image Credit: Coro)


Coro, a cybersecurity platform designed for small and medium-sized enterprises (SMEs), recently announced it has secured $100 million in a Series D funding round led by One Peak. Participating investors also included existing backers Energy Impact Partners and Balderton Capital. This investment marks a significant milestone for the company.

The funds will be used to bolster Coro’s market position and expedite its mission of providing SMEs and their service providers with accessible and affordable top-tier cybersecurity. The company has built a niche by offering an all-in-one security software platform addressing endpoint protection, email & user protection, and network & cloud protection. This comprehensive coverage is especially valuable as SMEs face growing cyber threats but also grapple with the high costs and complexity of existing solutions. Coro’s user-friendly platform ensures around-the-clock protection in an automated and cost-effective manner, representing a change for the industry.

Plans for the capital include product innovation through both organic growth and strategic acquisitions, such as the recent purchase of Privatize. Coro also aims to amplify support for its channel partners by enhancing programs for North American managed service providers and resellers. Additionally, Coro will accelerate its global expansion by establishing local marketing and channel teams and increasing brand awareness efforts.

Beyond these initiatives, the funding will help solidify Coro’s leadership in SME cybersecurity. Following a year of milestones like the launch of its modular Coro 3.0 platform and substantial channel growth, Coro is well-positioned for continued success. The company has also gained industry recognition highlighting its commitment to excellence and innovation in cybersecurity.

David Klein, Co-founder and Managing Partner at One Peak, stated confidence in Coro’s trajectory, noting the company has already achieved phenomenal growth targeting the large, underserved SME market and is well-positioned to further scale through execution of its vision with support from the new investment.​

 

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