# Corsa Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/corsa-technology

- Industry: IT Security/Cybersecurity
- Headquarters: Ottawa, Canada
- Website: www.corsa.com
- Total disclosed funding: $41M
- Latest round: Series D (Nov 14, 2019)
- Investors on record: 3

## About

Corsa Technology Inc. specializes in automating network security virtualization, offering innovative solutions that empower enterprises and service providers to enhance their firewall management and operational efficiency.Corsa Technology Inc., founded in 2013, is headquartered in Ottawa, Canada. The company focuses on automating network security through its advanced solutions. The current CEO is Eduardo Cervantes, who, along with co-founder Carolyn Raab, has been instrumental in shaping the company's direction. In October 2022, Corsa Technology raised CAD 10 million in funding, led by Roadmap Capital, bringing the total amount raised to CAD 10 million across 6 deals.Corsa Security specializes in automating network security virtualization, primarily through its flagship product, the Corsa Security Orchestrator (CSO). This platform enables large enterprises and service providers to deploy, scale, and optimize virtual on-premise firewalls efficiently, achieving deployment speeds that are reportedly 24 times faster than traditional methods. The CSO integrates firewall virtualization with intelligent orchestration, providing a comprehensive view of virtual firewalls while managing their infrastructure health, capacity, and performance. Target customers include managed security service providers (MSSPs), service providers (SPs), and large enterprises across North America, Europe, and parts of Asia, who are increasingly moving toward hosted managed virtual firewall services (VFS).Corsa Security operates on a subscription-based revenue model, where clients pay for their services based on current needs and scale as they grow. Customers can subscribe to services that integrate credit-based licensing from various firewall partners, facilitating a pay-as-you-grow approach. Revenue is generated primarily through managed services offerings, including the automation of firewall deployments and optimizations tailored for MSSPs and SPs. Transactions typically involve long-term partnerships, enabling clients to enhance their service portfolios without significant retraining or infrastructure investments. Specific pricing structures are defined within contractual agreements, ensuring tailored solutions that meet the operational challenges of each customer.Following the recent funding raised in October 2022, Corsa Technology Inc. plans to allocate CAD 10 million to support further product development. This includes upcoming enhancements to their Corsa Security Orchestrator and potential new product launches aimed at expanding their service capabilities. The company is also looking to penetrate additional markets within Europe and Asia by the end of 2023, positioning itself to capture more of the growing demand for managed virtual firewall services.

## Funding rounds

- Series D, Nov 14, 2019, $11M — Roadmap Capital
- Series C, Jul 25, 2018, $9M — Celtic House Venture Partners, BDC Capital, Roadmap Capital
- Series B, Mar 20, 2015, $17M — Celtic House Venture Partners, BDC Capital, Roadmap Capital
- Series A, Jul 5, 2013, $4.2M — Celtic House Venture Partners

## Investors

- Celtic House Venture Partners (https://capitalatlas.ai/funds/celtic-house-venture-partners) — Series A, Series B, Series C
- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series B, Series C
- Roadmap Capital (https://capitalatlas.ai/funds/roadmap-capital) — Series B, Series C, Series D