Coro Cyber Security Ltd., a startup helping midsized companies with limited cybersecurity expertise block hacking attempts more effectively, has closed a $60 million Series C funding round.

Balderton led the round with participation from existing Coro investor JVP. The startup disclosed in its announcement of the investment today that it has raised a total of $80 million over the past six months.

Coro, which maintains offices in Israel, New York and Chicago, offers a cybersecurity platform for midmarket companies with up to 4,000 workers. Coro uses artificial intelligence to block hacking attempts automatically. According to the startup, its platform is significantly easier to use than competing tools.

Many cybersecurity tools require specialized know-how to use, which often makes them inaccessible for midsized companies with limited in-house cybersecurity expertise. Moreover, tasks such as mapping out which devices are affected by a data breach often take a significant amount of time. This doesn’t pose a challenge for enterprises with a large number of information technology professionals, but can complicate midsized companies’ operations.

Coro says that its platform uses AI to automate much of the manual work involved in securing corporate networks. According to the startup, the platform can block phishing campaigns and malware targeting employee devices. It’s also capable of detecting if hackers attempt to access business data that a company stores in popular cloud services.

Coro displays cybersecurity issues in a dashboard that removes the need for administrators to carry out complex breach investigations, thereby saving time. The platform blocks many cybersecurity risks automatically. If an incident requires manual input, administrators can address the issue using drag-and-drop controls. 

Coro’s platform also identifies regulatory compliance issues. Its algorithms can, for example, detect if employees at a bank store business records in a way that doesn’t comply with the financial sector’s PCI DSS standard.

“Faced with limited security expertise, staff, and budgets, midmarket companies are forced to choose between impossibly expensive and labor-intensive enterprise solutions or piecemeal off-the-shelf solutions,” said Coro Chief Executive Officer Guy Moskowitz. “Coro is quickly becoming the standard cyber security platform for midmarket companies, with thousands of installations protecting millions of devices and phenomenal growth across the board.”

Coro disclosed today that it has achieved 300% year-over-year growth in each of the past three years, though it didn’t share absolute numbers. Following its latest funding round, the startup plans to triple its workforce with an emphasis on expanding its operations in Chicago.

Image: Coro