The Israeli cyber company Coro has raised $ 80 million

The company has shown 300% growth per year in the last three years, and its platform for small and medium-sized businesses has reached 2 million users per day. Coro has so far raised $ 120 million

The Israeli cyber company Coro has raised $ 80 million, led by the European fund Balderton Capital and the JVP fund. Investors in Coro also include MizMaa Ventures and Sound Star Ventures of Hollywood star Ashton Kutcher, who have not invested in the current round. To date, the company has raised about $ 120 million, including the latest round.

Unlike most local cyber companies, Koro is a long-established company that started in 2013 at JVP’s cyber incubator in Be’er Sheva, where it worked on its systems until 2018. Since then, according to the company’s CEO and one of its founders, Guy Moshkovitz, it has experienced growth of about 300 % Per year.
Along with Moskowitz, the company was founded by Prof. Carmel Domshalk, Doron Milchtich and Dror Lieber, who are still active in the company. Coro employs 150 people and is deployed in New York, Chicago, Beer Sheva, Jerusalem, Tel Aviv and Haifa. “Those who want a career in high-tech do not have to go to the center,” Moskowitz tells Calcalist. “He can do it from anywhere. It’s an ideology that accompanies us from the beginning.”

Coro’s cyber security platform was built to address the gaps in the cyber market, focusing on small and medium-sized businesses, ie the mid-market, to which about 70% of cyber attacks today are directed. Existing cyber security solutions for this market are limited and protect only from basic malware or phishing scams. They do not give a real answer, which is within the reach of only huge companies. As a result, a market of millions of companies remains helpless in dealing with cyber attacks in the face of three key barriers: price, complexity of the defense system and the need for a large cyber security team.

The fundraising money will be used to continue the growth of the company, which in the last three years has grown at an annual rate of 300% per year, reaching more than 2 million users per day. Following the growth, the company plans to triple its workforce in its branches in Israel and the United States, with an emphasis on recruiting dozens of people to the development centers in Israel and to the new center that the company recently established in Haifa.