Coro Cyber Security Ltd., a fast-growing developer of cybersecurity software for midsized companies, today announced that it has raised $75 million in funding.

The startup describes the investment as a Series 2C round. The capital was provided entirely by Energy Impact Partners. Coro is now valued at $575 million, up from $500 million after its previous funding round last April. 

Coro sells a cybersecurity platform designed specifically for companies with 500 to 4,000 employees. Such companies usually have limited in-house cybersecurity expertise, which means they require breach prevention tools that are relatively easy to use. The company says its platform addresses that requirement while reducing costs in the process.

Companies typically rely on separate tools to protect employee devices, email inboxes and cloud applications. Coro’s platform can secure all three. The startup argues that using a single product is more cost-efficient than buying separate tools for each use case.

According to Coro, its platform is simpler to use as well. Customers have access to a centralized dashboard that displays outstanding cybersecurity issues and the systems they affect. A feature dubbed 1-click resolve makes it possible to block malware, as well as fix insecure configuration settings, with a single click.

“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,” said Chief Executive Officer Guy Moskowitz.

One of the security tasks that Coro promises to ease is protecting data stored in software-as-a-service applications. According to the startup, its platform automatically detects when malware is uploaded to an application and blocks the connection. It detects more subtle breach indicators as well, such as unusual data access requests.

Coro provides a second set of features for protecting employees’ email inboxes. It can detect phishing attempts, as well as block malicious attachments. It says its algorithms also spot attempts to share sensitive business data in an unauthorized manner.

On employee devices, the startup’s platform installs an agent that uses machine learning to detect malware. The agent maps out how workers typically interact with a company’s business applications. It then searches for malicious activity that breaks from the pattern. 

Coro claims to have tripled sales in 2022 and expects to repeat the feat this year, though it didn’t reveal absolute numbers. To support revenue growth, the startup will hire more employees and explore acquisition opportunities. It intends to expand its channel partner ecosystem as well. 

Image: Coro