This is technology M&A deal number 215 that MSSP Alert and sister site ChannelE2E have covered so far in 2023.
Coro, founded in 2014, is based in New York, New York. The company has 323 employees listed on LinkedIn. Coro's areas of expertise include data, email and endpoint security.
Privatise, founded in 2020, is based in Jerusalem, Israel. The company has 13 employees listed on LinkedIn. Privatise's areas of expertise include network security for distributed and remote work.
Coro Expands Cybersecurity Platform's Capabilities
Privatise brings secure access service edge (SASE) capabilities to Coro's cybersecurity platform, the companies said. It ensures that organizations can use Coro's platform to protect their users, devices, networks, email and data in accordance with supply chain and industry regulations.
Organizations can also use the platform to access a virtual private network, next-generation firewall (NGFW) and other security capabilities.
Commenting on the Privatise acquisition, what it means for his business and its customers and the future of his company's cybersecurity platform, Coro CEO Guy Moskowitz said:
"By integrating Privatise's SASE capabilities into our platform, we offer the industry's first mid-market solution to deliver cloud-native, seamless and secure access to applications and resources, regardless of location or device. We will continue to invest in Coro's platform, both organically and through acquisition, to help companies strengthen their security posture and improve their operational efficiency."
Coro Adds Funding, Extends US Footprint
The Privatise acquisition comes after Coro in April 2023 raised $75 million in a funding round. Coro is using the funding to support its customer base and grow across its research and development, channel, sales and service teams, the company stated. The funding also enables Coro to continue to expand its cybersecurity platform's capabilities.
In addition, Coro in April 2023 announced its development of new business enablement center in Chicago, Illinois. This center will support Coro's direct sales team and reseller network, the company stated.
A Closer Look at Coro
Coro provides a cybersecurity platform that automatically detects and remediates malware, ransomware and other threats, the company said. This platform is used by more than 5,000 organizations.
Coro also offers a partner program that allows MSSPs, MSPs and other technology providers to incorporate its platform into their portfolios.
As of April 2023, Coro had raised $155 million over the prior 12 months, the company stated. Coro is projecting 300% year-over-year growth in 2023. If the company succeeds, it would mark the fifth consecutive year it has reported such growth.