Guy Moskowitz, CEO of Coro (Facebook pic)
Coro, an Israeli cybersecurity startup, raised $75 million in new financing from new investor Energy Impact Partners and current investors, Balderton Capital and Jerusalem Venture Partners. This latest raise brings the company’s total funding over the last 12 months to $155 million and gives it a $575 million valuation.
So, in spite of the continuing worldwide financial crisis in which funding for investments has dried up due to a combination of high inflation and increased interest rates, and Israeli firms pulling funds out of their own nation because of the concerns over their government’s planned judicial reforms, new funds continue to flow into Startup Nation Israel, especially in the field of cybersecurity.
Cybersecurity firms are really bringing in the money these days. And investors certainly have reason to believe that cybersecurity will bring them their best return on investment. Security is almost synonymous with Israel Startup Nation. So, of course if a company wants a security firm to acquire it will look to Israel.
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For example, Israeli cybersecurity firm Neosec is being acquired by Akamai Technologies. And Volumez, an Israeli cloud infrastructure startup that also offers cybersecurity solutions, just completed a $20 million Series A financing round led by Koch Disruptive Technologies.
Founded in JVP’s incubator in Beersheva in 2014 by CEO Guy Moskowitz, chief scientist Prof. Carmel Domshlak, customers officer Doron Milchtaich and EVP business development Dror Liwer, Coro provides security solutions for the mid-market, providing all-in-one protection that the company boasts empowers organizations to defend against malware, ransomware, phishing, bots, account takeover, and malicious behavior across devices, users, and cloud applications. More than 5,000 businesses depend on Coro for holistic security protection, unrivaled ease of use, and unmatched affordability. Coro employs innovative AI technology to identify and remediate the many security threats that today’s distributed businesses face, without IT teams having to worry, investigate, or fix issues themselves.
“The additional funding is a validation that Coro’s disruption of the cybersecurity industry is succeeding,” said Coro CEO, Guy Moskowitz. “While many cybersecurity vendors tried to address the mid-market by selling traditional products that were designed for an enterprise cybersecurity team to manage, Coro took a completely different route. 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.”
