The UAE has positioned itself as a global leader in cybersecurity by proactively adopting cutting-edge solutions to safeguard its burgeoning digital landscape. With a robust regulatory framework and strategic initiatives like the National Cybersecurity Strategy, the UAE prioritizes the protection of its critical infrastructures and business ecosystems. This commitment is reflected in the deployment of advanced technologies such as AI-driven threat detection and blockchain for secure transactions.
The proactive efforts ensure that both large corporations and SMEs operate in a secure environment, effectively minimizing risks and enhancing business continuity in the face of increasing cyber threats. Piers Morgan, Senior Vice-President and General Manager – EMEA, Coro, spoke to Sandhya D’Mello, Editor, Technology Division, CPI Media Group, on its top priority to address the cybersecurity challenges faced by SMEs and startups and be their cyber-partner to ensure seamless and protected operations.
Coro stands out as one of the most rapidly expanding security solutions tailored for the mid-market, offering comprehensive protection that enables organizations to combat a spectrum of cyber threats including malware, ransomware, phishing, bots, and account takeovers across various platforms—devices, users, and cloud applications.
Over 5,000 businesses rely on Coro for all-encompassing security, unparalleled simplicity in operation, and exceptional cost-effectiveness. Leveraging advanced AI technology, Coro proactively detects and addresses numerous security challenges faced by today’s dispersed businesses, allowing IT teams to focus on strategic initiatives rather than managing and troubleshooting security issues.
Your journey in Dubai began 27 years ago, and today, you are in an emirate that is at the forefront of digital transformation. Having witnessed this change firsthand, could you provide insights into how you see this nation leading in the Middle East?
From my perspective, Dubai, UAE, and the entire Middle East are experiencing an exciting time. I remember coming here 25 years ago, staying at the old Hard Rock Cafe where Sheikh Zayed Road actually ended. Since then, I have been returning here three or four times every year, both for business and pleasure. I have many friends and business contacts here, and the vibrancy of the current digital transformation process that many companies are undergoing is truly remarkable. We’ll discuss this a bit later, particularly looking at cybersecurity services and how they can protect the established and emerging companies that we see developing all the time in this region. So yes, for me, I love coming here and hope that continues.
Considering the increasing digital transformation in the Middle East, how critical is cybersecurity today? You could explain it from a B2C or even a B2B point of view?
I think it encompasses all B2B, B2C, even C2B. We see it in the newspapers, online every single day, around the globe. The bad guys, the threat actors, are constantly looking for weaknesses, particularly in certain markets. We at Coro like to think that we are protecting many of those organizations as we specialize within the SME and SMB market spaces. Cybersecurity is needed by everybody here in the UAE or across the Middle East, in Europe, in North America, out in Asia Pacific. We’re seeing requirements from both a regulatory perspective and a compliance perspective, and that is now filtering down to both startup companies and small to medium corporate organizations or businesses. We see it every day, and despite recent downturns in economies, cybersecurity is still absolutely relevant.
Is Coro planning to open an office in the region?
I joined Coro recently, and my responsibility is to expand the EMEA region. As a part of our phase one growth program, we will be establishing a presence and opening offices here. However, it’s not crucial for us to have a physical office here, as we have excellent partners and distributors. Through my personal experience and the teams that we’re establishing in the region, we are well-connected and 100% committed to investing in both personnel and technology in this region, while introducing our services. We have already achieved a degree of success in a mini road show that I’ve been participating in over the last couple of weeks. Our team has just been at Black Hat in Riyadh, and we attended Gitex this year. We plan to attend GISEC next year. I’m very excited by this region and what it has to offer, but more importantly, by how we can introduce our cost-effective, flexible, modular-based cybersecurity solutions that will be very helpful for the SMB customers in the Middle East and North Africa that I mentioned earlier.
Can you name top three markets that have contributed to Coro’s growth journey out of the Mena region?
The UAE presents a nascent market opportunity, as our establishment is still underway. Coro, as a business, has experienced substantial global growth within the last three years, with a year-on-year revenue increase ranging between 300% and 400%. We are disrupting the traditional cybersecurity market; our offerings are novel to partners, distributors, and customers alike. Differentiation and simplicity are paramount; cybersecurity can often be convoluted and misunderstood. We aim to eliminate this complexity within our target markets. Our single-based user platform and single pane of glass management system provide streamlined access, offering customers both choice and a unified management solution.
How many channel partners or resellers are you currently leading, and what specific strategies do you employ to manage these relationships?
As we are still in the early stages, we are actively signing up channel partners on a daily basis through our strong relationships here, especially with StorIT. We engage with various types of partners including MSPs, MSSPs, value-added resellers, ISVs, and system integrators. We tailor our cybersecurity solutions to meet the specific needs of their businesses and offer their customers a range of options, from endpoint agents to comprehensive services like email security, SASE, EDR, NDR, and XDR. Our approach is to work closely with these channel partners who understand their customers’ needs better than anyone. One standout partner in the UAE is MMA InfoSec, a high-growth company that provides full managed services and security operations centers. However, our focus isn’t limited to a single partner; it’s about leveraging the entire ecosystem to ensure our services are understood and valued in the market. Additionally, we aim to simplify the security landscape for these companies, many of which have been overwhelmed with multiple security tools generating thousands of alerts. With the Coro platform, we can reduce these to a manageable number, making it easier for SMBs without large IT teams or CISOs to handle their security needs effectively.
Can you explain how Coro’s Cyber Security Platform, specifically tailored for SMEs, differs from solutions designed for larger enterprises
Since we entered the market in 2015, the initial years were dedicated to research and development, crafting our platform and services, and establishing a clear roadmap. One key observation we’ve made is that the needs of SMEs (Small and Medium-sized Enterprises) are often overlooked by many cyber service providers who typically target larger corporate accounts. They attempt to fit enterprise-grade security solutions into the SME context, which doesn’t always align with the actual needs of smaller businesses. SMEs, especially in our region, are mostly companies with up to 500 users, sometimes even 350 in terms of endpoint or agent count. Our approach at Coro is to simplify the cybersecurity process for these businesses, which often do not have extensive in-house expertise. We offer an “a la carte” menu of 14 different cyber modules, allowing SMEs to select and combine different solutions or opt for specific bundled offerings according to their needs. This flexibility allows us to tailor our solutions to be both scale-appropriate and budget-friendly, providing a competitive commercial proposition that resonates with the specific dynamics and capacities of SMEs. In essence, we’re disrupting the traditional cybersecurity market by offering a platform that is not only effective but also adaptable to the unique challenges and constraints faced by SMEs, ensuring that they are no longer the ‘forgotten’ group in cyber defense strategies.
In today’s complex digital landscape, with an overwhelming array of cybersecurity solutions, what are your top three tips for entrepreneurs in the SMB sector to navigate these choices effectively?
Navigating the cybersecurity landscape as an entrepreneur, especially within the SMB sector, can indeed be daunting given the rapid evolution of technologies like AI and generative AI. Here are three crucial tips to help entrepreneurs make informed decisions:
- Understand Your Unique Needs: Every business has its own specific requirements and vulnerabilities. It’s essential to thoroughly assess your business model, data sensitivity, and potential risks. Understanding these elements helps in choosing cybersecurity solutions that are not just popular but truly pertinent to protecting your specific assets.
- Stay Educated and Informed: The cybersecurity landscape is dynamic, with new threats and solutions emerging regularly. Entrepreneurs should invest time in continuous learning about new threats and cybersecurity trends. This knowledge is critical in making informed decisions rather than relying solely on CIOs or CISOs.
- Leverage Expertise: While it’s important for entrepreneurs to be informed, collaborating with experienced cybersecurity providers can alleviate much of the burden. Providers like us offer flexibility and adaptability in our services, allowing businesses to focus on their core operations while we handle the complexities of cybersecurity. We guide our customers through the process, ensuring they are cyber-aware and their employees are trained on the significance of cybersecurity.
With these tips, entrepreneurs can better manage their cybersecurity needs, ensuring their ventures are protected against the prevalent threats that unfortunately see many startups falter in their initial years.
Could you elaborate on the Coro Academy and its offerings, particularly how it supports organizations in educating their staff on cybersecurity?
Coro Academy is an integral part of our approach to cybersecurity, designed to offer comprehensive educational resources for organizations. With over 25 years of experience in the industry, we’ve recognized the need for specialized cybersecurity education tailored to specific organizational needs. At Coro Academy, we offer a variety of modules focused on cyber awareness training. We start by assessing an organization’s existing cybersecurity infrastructure to identify any gaps. Based on this assessment, we provide targeted training and knowledge enhancement sessions to secure these vulnerabilities. Our training modules are crafted to address everything from basic cyber hygiene to advanced security protocols. Moreover, the Coro Academy team operates globally, delivering these educational resources both in-person and through online modules. We also provide certifications for both technical skills and commercial go-to-market strategies, primarily aimed at our channel partners. As our business evolves, these certifications become increasingly relevant, especially in regions where demonstrating expertise through credentials is highly valued.
“Overall, Coro Academy aims to empower organizations by equipping their staff with the necessary skills and knowledge to maintain robust cybersecurity measures, thus enhancing their overall security posture.”
What advancements and innovations can Coro’s customers anticipate in the platform in the upcoming years?
Looking ahead, Coro is committed to continuously enhancing our cybersecurity platform, ensuring it remains at the forefront of technology and service delivery. Our platform is designed to be a dynamic learning system, constantly evolving through both human oversight and artificial intelligence (AI) capabilities. The AI component is crucial, as it continuously absorbs and processes information, improving with every interaction and data point it encounters. In the coming years, we plan to further develop our services within the platform and extend these advancements to various global markets through our eco-systems. This development is not just about keeping pace with the market but leading it by simplifying interactions and being easy to do business with—a contrast to the complex and often dictatorial approaches seen elsewhere in the industry. Our approach involves actively listening to and learning from our customers’ experiences and feedback. This information is invaluable as we refine our processes and enhance the AI’s learning capabilities within the central Coro platform. By integrating these insights, our platform can better adapt, learn, and deliver tailored and flexible solutions that meet the evolving needs of our growing customer base. This strategy ensures that our platform not only responds to current cybersecurity challenges but also anticipates future needs, thereby providing robust, proactive protection for our clients.
Can you share a memorable case study where the Coro platform notably impacted a client, particularly in a crisis scenario, without needing to specify the client’s name?
Absolutely, I’d be happy to share a general example that underscores the adaptability and effectiveness of the Coro platform across various industries. We serve around 20,000 customers globally, spanning sectors like healthcare, manufacturing, retail, financial services, and automotive, among others. Our goal is to avoid being confined to any single sector, emphasizing our solution’s flexibility. One case that particularly stands out involves a crisis scenario in the SMB space, where our platform demonstrated its robust capabilities. We encountered a situation where thousands of alerts overwhelmed an IT manager, waking them at 3:30 am with fears of a network crash or a ransomware attack. Upon intervention, it turned out many of these alerts were false positives—just noise. Our platform not only resolved these issues but also adjusted our service level agreements to ensure that IT managers could rest easier, knowing their systems were monitored and protected efficiently. Our solution’s intuitive design allows for rapid deployment, with modules capable of being set up in as little as two minutes. This swift response time, combined with our commitment to cost-effective and scalable cybersecurity, ensures that our clients can rely on us to handle the ‘heavy lifting’ of cybersecurity, allowing them to focus on their core business functions. This approach not only helps in immediate crisis management but also builds a foundation for ongoing security and peace of mind.
How do you anticipate the end of 2024 in terms of growth compared to 2023, particularly within this region?
Looking forward to the close of 2024, we are optimistic about our growth trajectory, projecting an impressive year-over-year increase of at least 300 to 400% globally. This growth is not just in numbers but also reflects our deepened commitment and investment in specific regions, including significant efforts here. We have dedicated considerable resources—time, personnel, and financial—to this area, reflecting our strong belief in its potential.As we approach the end of the year and look towards the future, our focus remains on strengthening our market presence. We are finalizing foundational aspects of our operations and have established solid routes to market. Additionally, we’ve launched a new channel program tailored to this region, designed to engage and support channel partners who are interested in collaborating with us. We encourage potential partners to join this program, through which we aim to provide substantial support, investment opportunities, and avenues to monetize our services together. This strategy underscores our commitment to not only expanding our footprint but also enhancing our collaborative efforts to achieve sustained growth and success in the region.
Do you have a message for our readers and potential partners?
Absolutely! I encourage everyone to explore what Coro has to offer, especially if you’re grappling with the complexities of cybersecurity. Our platform is designed to simplify cybersecurity while delivering corporate-grade service, making it ideal for small to medium enterprises that may not have dedicated IT teams or CISOs. But it’s also robust enough for larger companies that face numerous cybersecurity challenges. I am particularly enthusiastic about this region and the potential it holds. I look forward to continuing to engage with local businesses, listening to their needs, and understanding the challenges they face. For channel partners and corporate customers interested in collaborating, I invite you to reach out. Let’s forge partnerships that not only address your cybersecurity needs but also allow us to make a significant impact together in the market. Thank you, and I look forward to working with many of you in the weeks, months, and years to come!