Coro Secures $100 Million in Funding, Valued at $750 Million

Coro raises $100M in funding, valued at $750M, to enhance cybersecurity for SMEs. Learn how this investment will boost innovation and global expansion.

Mar 28, 2024 - 10:03
Mar 28, 2024 - 10:03
 0  33
Coro Secures $100 Million in Funding, Valued at $750 Million
Coro Secures $100 Million in Funding, Valued at $750 Million

Coro, a cybersecurity platform catering to small and medium-sized businesses (SMEs) based in the United States and Israel, has successfully secured $100 million in a recent private funding round. The funding round, known as series D, has propelled the company's valuation to an impressive $750 million. This announcement comes as Coro aims to fortify its position in the market and expand its global footprint.

Led by One Peak, a prominent investor, the series D round saw the continued support of existing backers such as Energy Impact Partners and Balderton Capital. With this latest infusion of capital, Coro has amassed a total of $255 million in funding over the past two years, signaling robust investor confidence in its vision and capabilities.

The newly acquired funds are earmarked for bolstering product innovation and facilitating the company's ambitious plans for international expansion. Coro's mission is to provide SMEs with comprehensive cybersecurity solutions that rival those typically reserved for larger enterprises. Its all-in-one platform encompasses advanced security software covering endpoint protection, email and user protection, as well as network and cloud security.

In today's digital landscape, SMEs are increasingly targeted by cyber threats of escalating sophistication and frequency. Coro recognizes the pressing need for affordable and effective cybersecurity solutions tailored to the unique challenges faced by smaller businesses. By addressing this gap in the market, Coro aims to empower SMEs to safeguard their operations and data against evolving cyber risks.

Yoav Tzruya, a general partner at Jerusalem Venture Partners and a Coro board member, expressed confidence in the company's trajectory, stating, "We aim to turn Coro into a multibillion-dollar company, as we’ve done multiple times before." This declaration underscores Coro's ambitious growth aspirations and its commitment to delivering value to both investors and customers alike.

Also Read: Stellantis Recalls Nearly 285,000 Vehicles for Faulty Side Airbags

iShook Opinion Curated by iShook Opinion and guided by Founder and CEO Beni E Rachmanov. Dive into valuable financial insights at ishookfinance.com for expert articles and latest news on finance.