Coro

Coro was founded in 2014 by four co-founders, each taking an equal 25% stake, with the original vision of solving a specific wireless security threat. The founding team developed proprietary technology around "Comjacking"—preventing man-in-the-middle attacks in Wi-Fi and cellular networks. They won awards and secured patents, but quickly discovered a harsh market reality: security buyers weren't willing to add another niche tool to their stack, no matter how innovative.

The MVP launched in 2014, but the company remained pre-revenue through 2016. In their 2016 Series A ($5.5M at ~$20M valuation), they were still at zero ARR—selling on patents and potential rather than traction. The founding team, all from enterprise backgrounds, initially tried to scale the enterprise security market but found it hostile to new entrants. By 2017, a critical realization emerged: the real opportunity wasn't in complex enterprise deployments, but in the underserved SMB market (20-2,000 employees) desperate for affordable, integrated security.

In 2017, Coro launched "Secure Cloud," pivoting from a niche wireless product to a comprehensive platform covering devices, networks, SaaS applications, email, and data. The all-in-one positioning resonated immediately with mid-market and small business buyers who were drowning in fragmented security tools (enterprise companies average 40 different cybersecurity products). Coro's simple $15/month per-user pricing made adoption easy. Growth accelerated through 2018-2019, with the team learning that SMBs wanted simplicity and integration, not point solutions.

The pivot to SMBs worked spectacularly. After five years of 3X growth (2017-2022), Coro achieved 50M ARR in 2022 and is on track for 100M ARR in the current year—a 2X growth year at massive scale. The company successfully spread revenue evenly across verticals (healthcare, manufacturing, financial services, etc.), avoiding dependency on any single sector. In 2023-2024, education and automotive saw significant spikes due to increased attack activity in those sectors. The founders understood a critical insight: most SMBs cannot afford or implement traditional enterprise security. Coro made "end-to-end cybersecurity" accessible and affordable.

Coro raised a $100M Series D at a $750M post-money valuation, bringing total capital raised to $280M+. The Series C was actually two tranches ($80M at $500M, $75M at $600M), followed by Series D and Series E rounds. Founder Drawer has been diluted to approximately 8% ownership through fair equity raises and strategic employee option pool top-ups to maintain founder and employee engagement. Rather than chase an exit (despite on-paper net worth estimates of $50-60M for Drawer), the team is focused on building a $10B+ ARR company and becoming the dominant player in the $110B TAM mid-market/SMB cybersecurity market. At $100M ARR and half the revenue of competitor Wiz (which rejected a $23B Google acquisition), Coro is valued at approximately $10B and continues to execute on aggressive growth targets.