Series C funding round brings company valuation to $1 billion
Secure Access Service Edge (SASE) and Zero Trust Network Access (ZTNA) solutions provider Perimeter 81 has closed a $100 million Series C funding round led by B Capital.
This latest funding round values the company at $1 billion and brings the total amount raised by the company to $165 million.
The additional cash will be used to fuel its growth in the network security market and support its sales, marketing, and R&D efforts.
Perimeter 81’s platform helps businesses to secure remote access, network traffic, and endpoint devices with its cloud-delivered Zero Trust Network Access, Firewall as a Service, and Secure Web Gateway (SWG) offerings.
The company says it has more than 250 employees, nearly 2,400 customers, and has more than doubled its annual recurring revenue (ARR) year over year, with offices in Tel Aviv, New York City and Los Angeles.
“The rise of remote work, cloud adoption, fiber, and 5G has created a fundamental shift in the network security landscape, leading companies to replace their on-premises network and security appliances with a secure corporate network over the internet,” said Perimeter 81 Co-Founder and CEO, Amit Bareket. “B Capital and other investors embrace our vision to deliver holistic security that is purpose-built for a cloud-first, distributed workforce and share our belief that a secure corporate network over the internet transcends the traditional office environment and is the way of the future.”
Additional investors in the Series C include Insight Partners, Toba Capital, ION Crossover Ventures, Entrée Capital, and publicly-traded Spring Ventures.
Perimeter 81 previously raised $40 million in a Series B founding round that was announced in August 2020.