Cloud cybersecurity startup Coro Cyber Security Ltd. today announced that it has raised $100 million in new funding to reinforce its market share and accelerate its mission to serve small to medium-sized enterprises and service providers.

Founded in 2014, Coro offers a cybersecurity platform built specifically for companies with 500 to 4,000 employees. The company’s platform was designed to empower organizations to easily defend against malware, ransomware, phishing, data leakage, network threats, insider threats and email threats across devices, users, networks and cloud applications.

Since December, Coro has offered a modular security service for midmarket companies that consolidates multiple security capabilities into a unified solution. The solution integrated modules, from endpoint detection and response to security access service edge to email security that can be activated on demand to grow with a company’s needs.

Coro says it simplifies the implementation of the cybersecurity stack by using a single pane of glass, one endpoint agent and one data engine to configure, operate and manage every security module. It claims its security modules automatically identify and remediate threats, eliminating the security gaps caused by multiple tools in the security stack. The modular nature of the cybersecurity platform also allows companies to strengthen their security posture and reduce operational workloads at a total cost of ownership that’s less than a third of that of comparable point solutions, according to Coro.

The company says it has seen strong growth, with three times growth in 2023 for the fifth straight year, though it didn’t provide absolute numbers. It was also named in the inaugural Fortune Cyber 60 in 2023 and the 2023 Deloitte Technology Fast 500.

One Peak Partners LLC led the Series D round, with existing investors Energy Impact Partners LP and Balderton Capital Holdings Ltd. also participating. “As a growth investor, we look for companies that target large, underserved markets and are in prime position to dominate that field,” David Klein, co-founder and managing partner at One Peak, said ahead of the announcement. “Coro has already achieved phenomenal growth and success in the SME market.”

Discussing the company’s plans, Guy Moskowitz, chief executive officer of Coro, said that the company plans to expand its services beyond the SME market to “as many organizations as possible” and that Coro plans to do so through its network of partners to bring “the current chaos of managing cybersecurity to halt.”

Including the new funding, Coro has raised $255 million to date, according to data from Tracxn, including $75 million on a $575 million valuation in April 2023 and a round of $60 million in April 2022.

Image: Coro