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| Coro Secures $100 Million Funding Round to Drive Aggressive Growth to Transform Cybersecurity for SMEs
Coro's dedication to protecting and empowering SMEs has been a cornerstone of its success, driving remarkable growth and catapulting Coro to a market leadership position within a few short years. In 2023, Coro expanded its customer base across every industry vertical, achieving 3X year-over-year growth for a record fifth year in a row. Coro was named to the inaugural Fortune Cyber 60 and to the 2023 Deloitte Technology Fast 500, in recognition of its achievements as one of the fastest growing cybersecurity companies in North America. The new funding will be used to:
"As a growth investor, we look for companies that target large, underserved markets and are in prime position to dominate that field," said David KIein, Co-founder and Managing Partner, One Peak. "Coro has already achieved phenomenal growth and success in the SME market. We are convinced that Coro has the right tech stack, a world class management team, and unlimited potential to scale the business to the next level. We're excited to partner with Coro to help them execute on their vision and support the team in their next leg of explosive growth." "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." "We are delighted to continue to support Coro as the leader in providing cybersecurity solutions to SMEs," stated Rana Yared, General Partner, Balderton Capital. "We believe that providing protection and peace of mind to this segment of the market is critical to economic growth." "We are excited to continue our journey with Coro. We expect that the unwavering focus on SMEs, the most underserved segment in the cybersecurity market, coupled with the team's phenomenal execution, will ensure Coro's dominance in this market," said Shawn Cherian, Partner at Energy Impact Partners. 2023: Establishing leadership in SME cybersecurity 2023 was a year of immense milestones and achievement for Coro. In October 2023, Coro created a new cybersecurity paradigm with the launch of Coro 3.0, the industry's first modular cybersecurity platform. Coro 3.0 offers fourteen seamlessly integrated modules - from EDR to SASE to email security - that can be activated on demand to grow with a company's needs. Coro's modular platform consolidates critical security capabilities into a single pane of glass, a single data engine, and most importantly, a single endpoint agent, making deployment and management effortless. Coro also invested extensively across its North American sales and channel organizations in 2023. The Company added 300 new channel partners, expanded its channel headcount by nearly 500%, and established a business enablement center in Chicago to support its direct sales and channel partner ecosystem. The Company also expanded globally with the opening of its UK R&D Center and data centers in both Canada and Germany to facilitate the regional expansion of both channel partnerships and customers. Throughout 2023, Coro continued to receive industry accolades for customer satisfaction, product performance, company growth, and best places to work. This recognition includes:
About One Peak One Peak is a leading growth equity firm with $2.0 billion in assets under management that invests in technology companies in the scale-up phase. One Peak provides growth capital, operating expertise, and access to its extensive network to exceptional entrepreneurs, with a view to help transform innovative and rapidly growing businesses into lasting, category-defining leaders. To learn more, visit www.onepeak.tech. About Coro Coro, the leading cybersecurity platform for the SME market, revolutionized cybersecurity with the introduction of the world's first modular cybersecurity platform in 2023. Coro's platform empowers organizations to easily defend against malware, ransomware, phishing, data leakage, network threats, insider threats and email threats across devices, users, networks and cloud applications. Coro's platform automatically detects and remediates the many security threats that today's distributed businesses face, without IT teams having to worry, investigate, or fix issues themselves. Ranked on the 2023 Deloitte Technology Fast 500, Coro is one of the fastest growing cybersecurity companies in North America today. For more information, please visit Coro at coro.net, or via LinkedIn, Twitter or Facebook. View source version on businesswire.com: https://www.businesswire.com/news/home/20240328909937/en/
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