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 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.