Israeli cybersecurity company Coro today announced the completion of a $80 million financing round led by UK fund Balderton Capital with the participation of JVP, the initial investor and main supporter of the company until today. Prior to this financing round Coro, formerly called Coronet, had raised $40 million and this is the first money it has raised since 2018 - unusual in the Israeli cybersecurity ecosystem where company's close financial rounds each year.
Coro was founded in 2014 by CEO Guy Moskowitz, chief scientist Prof. Carmel Domshlak, customers officer Doron Milchtaich and EVP business development Dror Liwer. Unusually for a cybersecurity company where founders are usually recent graduates from the IDF Intelligence Unit, Coro's founders are in their 40s. Coro was founded in JVP's incubator in Beersheva and currently has 150 employees, half of them in Israel and half of them in the US.
Coro has developed an all-in-one cybersecurity system, which includes protection against users, devices, emails and the cloud for the mid-market - small and medium-sized companies with 30-3,000 employees.
Moskowitz said, "The cybersecurity market is divided up into giant companies that can buy different protection components and connect them, and millions of smaller companies that cannot undertake this integration both in terms of the cost of the components and in terms of the number of people that must be employed to operate these systems. We offer them cybersecurity at an affordable price."
The price of using Coro's cybersecurity system is $6.99 per month per user (as part of an annual subscription).
Published by Globes, Israel business news - en.globes.co.il - on April 5, 2022.
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