Corero

About Corero

Corero Network Security plc (LSE: CNS, OTCQX: DDOSF) is a specialized cybersecurity firm focused on providing automated Distributed Denial of Service (DDoS) protection solutions. The company is headquartered in London, with operational centers in Marlborough, Massachusetts, USA, and Edinburgh, UK. For over a decade, Corero has been dedicated to developing technology that ensures service availability for its clients.

The company's core business revolves around its automatic detection and mitigation solutions that protect against both external and internal DDoS threats. Corero serves a diverse client base, including service providers, hosting providers, data centers, and online enterprises. Its business model incorporates direct sales, a channel partner program, and an OEM model where its technology is embedded within the products of major providers like Juniper Networks and Akamai. Revenue is increasingly generated through a subscription-based model, with a strong focus on Annualized Recurring Revenue (ARR) and DDoS Protection-as-a-Service (DDPaaS). In 2023, the company reported revenues of $28.8 million and a customer renewal rate of 97%.

Corero's flagship product is the SmartWall ONE platform, a modular, on-premises solution that can be deployed as a physical appliance or a virtual instance. It provides real-time, in-line protection by inspecting traffic to surgically identify and block malicious packets without causing latency. Key components include the Network Threat Detector (NTD), a management engine, and SecureWatch Analytics (SWA) for visibility and forensics. In 2024, Corero expanded its offerings with the launch of CORE (Corero Observability & Resiliency Ecosystem), a cloud-native platform. CORE enhances existing security infrastructure with AI/ML-assisted insights and introduces capabilities beyond traditional DDoS defense, such as application-layer protection, real-time traffic analytics, and Zero Trust Access Control (ZTAC).

The leadership team is spearheaded by CEO Carl Herberger, a cybersecurity expert with over 25 years of experience, including roles at Radware and establishing the U.S. Air Force's first cyber warfare unit. Ashley Stephenson, who joined in 2012 and previously served as CEO, is the Chief Technology Officer, guiding the product strategy. The company's strategy focuses on market expansion through strategic partnerships, upselling to its existing customer base, and continuous product development to address the evolving complexity of cyber threats.