Coro this week announced that it has raised $60 million in a Series C funding round that brings the total raised over the past six months to $80 million.
The latest funding round was led by Balderton Capital, with participation from Jerusalem Venture Partners (JVP).
Founded in 2013, Coro aims to address cybersecurity issues in the mid-market and small and midsize business (SMB) segments, which are the target of the majority of cyberattacks.
Coro’s security-as-a-service (SaaS) solution relies on artificial intelligence (AI) for automation and includes the necessary tools to protect devices, users, cloud applications, and emails from threats such as phishing, malware, ransomware, and bots.
The company plans to use the new funds to accelerate growth through aggressive hiring worldwide. Coro plans to triple its employee base, mainly focusing on its Chicago operations.
“With this latest round, we will further enable mid-sized companies to operate in the midst of an increasingly sophisticated and aggressive cyber landscape with genuine peace of mind and refocus critical resources on running successful businesses instead of on managing cyber security,” Coro CEO Guy Moskowitz said.
Coro claims more than 5,000 businesses use its platform.