Coro, the Ashton Kutcher-backed cybersecurity firm, has raised $60 million following 300% year-over-year growth for three consecutive years, the New York-based company announced Tuesday (April 5).
These funds will be used to accelerate the company’s growth and triple the Coro team globally, according to the release, with an emphasis on its Chicago operations.
The round was led by Balderton Capital, a London-based venture capital firm that invests in early-stage, technology and internet startups in Europe. Existing investor Jerusalem Venture Partners, the international venture capital company, also participated.
The release noted that Coro’s platform was built to fill security holes in small- to medium-sized businesses (SMBs), which are targeted by 70% of cyberattacks.
The company’s Biggest Cyber Security Threats Coming in 2022 survey revealed SMBs are being attacked with just as much range, volume and sophistication as the largest companies. These incidents have increased by 150% since 2020, and the survey data shows a near-universal cybersecurity skills gap in SMBs across sectors.
In contrast with anti-malware or phishing protection, which focus on specific threats, Coro said its Software-as-a-Service solution includes all the security needed for these firms to protect users, devices, emails and cloud applications.
“Coro is quickly becoming the standard cyber security platform for mid-market companies, with thousands of installations protecting millions of devices and phenomenal growth across the board,” Coro CEO Guy Moskowitz said in a statement.
Coro is not the only company who has received an investment from Kutcher’s Sound Ventures — the company’s portfolio has included more than five dozen tech firms, from Airbnb to Uber.
Last summer, PYMNTS reported Sound Ventures was part of the investment team for a $58 million Series B fundraising round for Titan Global Capital Management USA.
Read more: FinTech Titan Nets $58M, Plans Rebuild Of Investment OS
That round also included Andreessen Horowitz, General Catalyst and BoxGroup.
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