Everything Dror Liwer said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Microsoft screws channel partners by cutting renewal commissions to 5%
“Microsoft screws their channel program partners. What do they do? They give them a nice 30% commission on the first year, and a nice five percent commission on the second year when the customer renews.”
Liwer: Coro Founders Received Equity Top-Ups Across Funding Rounds
“So there were top ops along the way. Because it's important to the investors to make sure that the founders stay very engaged, and that's the way a smart investor thinks.”
Liwer: Coro's Offering and TAM Justify a $10B Valuation Relative to Wiz
“If we're half of what they are, and our offering is actually much wider, and our TAM is much bigger than theirs, then I'd say that would be fair.”
Coro expects to reach $100M ARR by the end of 2024
“So we expect to end this year at around a hundred million, and we're building a billion dollar ARR company in the cybersecurity space.”
Founders only have three jobs: selling, corp dev, and fundraising
“I believe that founders have three jobs. Sell, corporate development, fundraising. That's what you need to do in life, right?”
Channel partners not selling to your ICP have zero chance of success
“Audience means that they must be selling, your channel partner or potential partner must be selling to your ICP. If they're not selling to your ICP, the likelihood that they're going to be successful is zero, not two percent.”
Liwer: Enterprise security prices reflect lavish marketing and customer entertainment budgets
“Really what the enterprise players have done was price it in a way that justifies the millions of dollars that they spend on marketing and on whining and dining their customers.”
Liwer: Mid-market cybersecurity remains an industry blue ocean
“We believe that we are in a position to dominate one of the only blue oceans left in cybersecurity, which is mid and small business, mid market and small business. The entire industry is focused either on the consumer market or the enterprise market.”
Liwer: The Average Enterprise Buys 40 Different Cybersecurity Products
“An average company on the enterprise side will have 40 different cybersecurity products that they've bought.”
Liwer: Companies pay $50/user on CRM but resist $15/month for cyber
“Everybody in this room will spend easily 50 bucks a user on CRM, but they won't spend 15 dollars a month on cybersecurity.”
Liwer: Coro Is on Track to Hit $100M ARR in 2024
“We are on track for that.”
Liwer: Mid-Market and SMB Cybersecurity TAM Is About $110B
“The TAM is about a hundred and ten billion dollars in our market, and we want to be the dominant player in that market, so we're much more interested in building the largest, the most successful company in mid-market small business cybersecurity rather than th…”
Coro announces $100M Series D led by One Peak
“This morning at six a.m. We announced a one hundred million dollar D round led by One Peak out of London.”
Coro grew revenue 300% YoY for three consecutive years
“We've been growing 300% year over year for the last three years straight.”
Enterprise cybersecurity deal sizes typically range from $700K to $1.5M
“So a cybersecurity company normally sells a deal size of anywhere between 700 to 1.5 million dollars.”
Channel partners won't test unproven products; direct sales required
“Direct is our way of testing the market with new products, new concepts. Our channel partners don't have an appetite for testing or adventures or new stuff.”
Even channel-dominant companies like Cisco keep direct sales to prove traction
“You can't go all channel immediately. All the companies that sell predominantly through channel have a direct arm as well. Even Cisco, which I think is about 90% channel, has a direct team, and that's because you need to prove to the channel that this stuff wo…”
Channel partners take two months to generate revenue, five to profit
“An average channel partner will start generating revenue about two months in and become profitable for you only five months in.”
Virtually all 4,500 ComplyAuto dealerships use Coro's platform
“Went to market and virtually all of their 4500 car dealerships are on our platform today.”
Coro achieved 300% YoY revenue growth for four consecutive years
“Our growth, which has been 300% year over year for the past four years straight with this year expected to be yet another 300% growth.”
Coro expects to surpass a $40M run rate by December 2023
“Yeah, so our expectation is to beat that number.”
Liwer: Coro embraces partner discounting to leverage sales multipliers
“We're not in the we're not competing with our partners in any way. We actually prefer that our partners win because from our perspective, you know, there is a much, a very strong sales multiplier when you're using partners.”
Coro's AI removes over 95% of human security stack management
“We've removed more than 95% of the human element through AI, through automation”
Coro raised an additional $75M in Series C-2 funding
“We raised an additional 75 as a C-two.”