Coro Partners to Benefit from $100 Million Funding Round

Coro has obtained a $100 million Series D funding round led by One Peak, with participation from existing investors Energy Impact Partners and Balderton Capital.

This funding round brings Coro’s total funds raised to $255 million in the last two years. In 2023, Coro expanded its customer base across every industry vertical, achieving three times year-over-year growth for a record fifth year in a row.

In addition, 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.

Dror Liwer, Coro’s co-founder, said partners will directly benefit from the latest funding round.

“Two objectives we would like to accomplish as part of this funding round are first, adding more capabilities to our partner program — more tools, more people, more content and more enablement,” he told Channel Futures. “In addition to that, based on our partners' request, part of the proceeds will fund global expansion, enabling our partners to offer Coro to their international customers, specifically in the United Kingdom, Canada and the European Union.”

Coro's Dror Liwer

Last year, Coro added 300 new channel partners, expanded its channel team 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 United Kingdom R&D Center, and data centers in both Canada and Germany to facilitate the regional expansion of both channel partnerships and customers.

Related:Coro Cybersecurity Hires Hilary Gadda, Raises $75 Million

Coro Will Reach More Partners with Funding Round

“The funding will enable us to reach more partners, enabling them to offer our revolutionary Modular Cybersecurity Platform, which means they'll be able to add a full cybersecurity stack to their midmarket customers without any upgrades, or investment in software or staff,” Liwer said. “We plan to launch an upgraded partner program with more tools, more enablement, more content and even automation, allowing any partner to quickly and profitably offer a complete cybersecurity stack to their SME customers with virtually no upfront investment or risk.”

Coro designed its partnership program from the ground up to enable partners with minimal or no cybersecurity offerings to quickly become full cyber stack providers, and for those that have a full stack that is sold to the enterprise, to “effectively and profitably” sell to the midmarket and small business community, he said.

Related:Cybersecurity Provider Coro Promotes Tom Turner to Channel Leader

“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, One Peak’s co-founder and managing partner. “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.”