Today, cybersecurity platform Coro announced that it has raised $75 million to support mid-market organizations. The new funding brings Coro’s total funding raised in the past 12 months to $155 million.Coro’s platform is designed to unify cybersecurity tools in one place as part of a single platform so that security teams and security operations centers (SOCs) can manage their defenses across endpoints, cloud services and workloads. This includes scanning files, emails and cloud apps for data leaks, malware, ransomware and access violations.
The announcement comes as complexity has reached unprecedented levels for defenders: The average organization uses an average of 76 security tools.
“The main challenge in securing any data, anywhere, is that normally a breach is a multi-domain incident, yet traditional cybersecurity solutions are focused on one domain, and rely on a security team to triage a developing attack or campaign,” Guy Moskowitz, CEO of Coro, said in an exclusive interview with VentureBeat.
In a traditional model, Moskowitz explained, one security tool will be looking for credentials theft, another will be focused on email security, yet another on data governance.
“These are three solutions with blind spots between them (and that) rely on a cybersecurity team’s diligence to resolve,” said Moskowitz.
Instead, Coro aims to provide organizations with a consolidated tool to detect and prevent threats across on-premise and cloud environments rather than relying on siloed tools to protect each segment of infrastructure.
The organizations is competing with established providers like Cisco, which offers a mixture of Cisco secure products including secure email, secure endpoint, secure firewall and security cloud solutions.
Coro’s latest funding round highlights that there is a strong appetite among organizations to reduce the complexity of managing dozens of siloed security solutions toward more unified platforms.