Coro raises $75M at a $575M valuation to grow its allinone cybersecurity platform

News Summary

  • One report found mid-market companies to be 350% more likely to face a cyberattack than larger businesses, and as a signal of the opportunity here (and the problem), in general mid-market companies are becoming more aware of the issues.That also means competition to serve their needs.
  • Typically, a customer of the size that Coro targets might have between 15 and 25 security products, paying in total between $25 to $45/user/month.“It becomes a no-brainer,” said Liwer.The funding will be used across a few areas.The first of these will be investing in more R&D.
  • “Mid-market companies need a comprehensive cyber solution that protects their vital business assets without spending outrageous sums or requiring hard to find cybersecurity experts.
  • )The funding is coming from a single investor, Energy Impact Partners, known for green-tech investments as well as backing a number of cybersecurity and enterprise startups.
  • Coro’s AI-powered platform, based on a modern approach to solving cybersecurity challenges, is taking the market by storm.
  • Tamping down some of the hype of the moment, the company has been using AI “since day one,” Liwer said.
Simplification has been a big theme in the enterprise world in the last couple of years. If a company can consolidate multiple point solutions into one product or contract, it can reduce complexity a [+5795 chars]