Industry’s first and most comprehensive mid-sector cybersecurity research study finds 490% increase in likelihood of breach by end of 2021
In response to market failure to provide security solutions for midsize businesses, cybersecurity innovator Coro introduces industry-first funding program to make all-in-one enterprise-grade cyber protection immediately accessible to all growing companies
NEW YORK, November 18, 2021 (GLOBE NEWSWIRE) – Coro, the all-in-one cybersecurity platform designed for mid-size businesses, growing businesses and lean IT teams, today released an in-depth cybersecurity research report revealing a true market failure: a serious lack of preparedness in the mid-market sector, which includes companies with between 100 and 1,500 employees, to defend against a growing array of cyber attacks. The pandemic-induced digital transformation, including remote working, the proliferation of devices, and the increased use of cloud applications, has fueled the rapid emergence of a range of attack types far wider than anything else. has been seen before the pandemic, including malware and ransomware attacks through cloud apps and email. , endpoint malware, Wi-Fi phishing, and insider threats. The results of the report show that midsize businesses are largely unprotected due to the fact that they lack the immense team resources, expensive products and the expertise to protect against these growing attacks because The cybersecurity market has evolved primarily to serve large enterprises – and yet the mid-market sector is affected by cyber attacks with a frequency and sophistication comparable to large enterprises.
“While we have seen more far-reaching protection developed for large enterprises, the cybersecurity industry is not prioritizing the needs of the middle market. Now, growing businesses remain fully exposed to truly unprecedented levels of cyberattacks, which are rapidly increasing not only in volume and sophistication, but also in reach and lethality, ”said Guy Moskowitz, CEO of Coro. “The market has failed to protect these critical businesses, and Coro is addressing this issue by providing comprehensive, enterprise-grade cybersecurity protection, priced and designed specifically for midsize businesses. “
The research report is based on examining more than 4,000 mid-sized companies across retail, manufacturing, professional services, healthcare, transportation, and education. The results show that the intermediate sector is not equipped to cope with the current cyber climate:
The vast majority of midsize businesses are in the dark when it comes to detecting attacks and completely helpless when it comes to fending off them. Email malware attacks increased 154% between 2020 and 2021, but only 1% of midsize businesses implemented email malware protection in 2021 – 88% of them having incorrectly configured protection settings. The numbers are even worse for lesser-known attacks like Wi-Fi phishing, which increased 203%: less than 1% of midsize businesses have some type of Wi-Fi phishing protection in place, and those with misconfiguration rate 90%.
The number of attacks on mid-sized businesses across all industries increased by at least 50% between 2020 and 2021. Healthcare and transportation stand out as the fastest growing sectors, with attacks increasing by more than 125% between 2020 and 2021. Attacks in retail, manufacturing and professional services have almost increased. doubled, increasing between 86% and 90%. These increases demonstrate a broad shift, as this caliber and volume of attacks previously primarily targeted large enterprises, but are now launched at mid-sized enterprises.
Targeted and personalized attacks quadrupled, while insider threats doubled. In 2021, the proportion of naive attacks – the least sophisticated type of attack – increased from 86% to 68%, while personalized attacks and insider threats – the two deadliest and most damaging targeted attacks – are multiplied by 4 and 2 respectively, revealing the ability of bad actors to deploy smarter attacks against a wider range of organizations.
Mid-sized businesses are at least 490% likely to experience a security breach by the end of 2021 than they were in 2019. The growth of cyber attacks and the increase in threat vectors targeting midsize businesses since the onset of the pandemic, combined with the security industry’s failure to deliver viable security solutions tailored to the mid-market sector and with the widespread misconfiguration of a few the security solutions that have been deployed have resulted in an alarming increase in the likelihood of suffering a devastating breach.
In light of the report’s findings, Coro is committed to providing tools and financial programming to make enterprise-level cyber protection accessible to midsize businesses. To that end, Coro unveiled its new Easy Upgrade program, a one-of-a-kind cybersecurity funding program. The new initiative offers financing options that allow companies currently stuck in contracts with legacy security solutions to immediately upgrade to Coro’s all-in-one platform at no upfront cost, without requiring additional budget.
Coro also showcased its next-generation all-in-one cybersecurity platform. With a new user interface, faster setup, extended functionality and AI automation, the next-generation Coro platform delivers comprehensive security across all endpoints, protecting users, cloud applications, emails, devices and data. The platform is built on the premise of non-disruptive security and leverages AI and machine learning to automatically find and fix the most well-known cyberthreats and vulnerabilities. Coro saves lean IT teams time, energy and resources by only solving problems that require human intervention.
“Our next-generation platform is our response to a significant hole in today’s market – a holistic, affordable security tool that offers maximum protection with minimum involvement. We’ve removed the extra steps, and there are no logs to review and no need to balance multiple tools and integrate disparate systems, ”said Carmel Domshlak, co-founder and chief scientist at Coro. “Everything is in one place here, and Coro AI anticipates the risk to take care of the majority of issues without IT ever having to intervene.”
“Coro provides our organization, and by default the communities we serve, the comprehensive protection and real-time alerts we need to defend against cybersecurity threats,” said Eddie Drachenberg Jr., CIO at O ‘Neill Healthcare. “With Coro, I had the confidence and the ability to continuously train our employees on the correct methods of email encryption, including PHI / PII / PCI data, by leveraging its DLP alerts and reports. I was pleasantly surprised to find that Coro not only alerts against phishing and ransomware email threats, but also allows me to create rules to prevent further attacks. Coro has proven to be a big step in the right direction for O’Neill Healthcare’s cybersecurity needs.
Coro has experienced 300% year-over-year growth in each of the past three years, and has also recently expanded its consulting business, now joined by Barmak Meftah, former CEO of AlienVault, and alumni. AlienVault senior executives Roger Thornton and Russell Spitler.
“Mid-sized and growing businesses clearly bear the brunt of cybersecurity attacks, yet many do not have the budget or the expertise to completely secure their assets, relying on outdated out-of-the-box solutions. and incomplete or fragmented security policies, ”said Barmak Meftah, former CEO of AlienVault. “Step into Coro, the only cybersecurity solution on the market that broke through the price, complexity and IT resource barriers that nearly all midsize businesses face, with an all-in-one platform that discovers and automatically address the vast majority of cyber threats.
To access the full research report, please visit https://go.coro.net/2021-mid-market-security-report.
Coro is one of the fastest growing mid-market security solutions, offering all-in-one protection that enables organizations to defend against malware, ransomware, phishing, and web bots. devices, users and cloud applications. Built on the principle of uninterrupted security, more than 5,000 businesses depend on Coro for comprehensive security protection, unmatched ease of use and unmatched affordability. The Coro platform uses innovative AI technology to identify and address the many security threats that today’s distributed businesses face, without IT teams having to worry, investigate, or resolve. even the problems. Investors in Coro include JPV, MizMaa Ventures and Ashton Kutcher’s Sound Ventures. For more information, please visit coro.net.
CONTACT: Media Contact: Kelsey Bates Scratch Marketing + Media for Coro [email protected]