Tel Aviv, Israel-based Secure Access Service Edge (SASE) provider Cato Networks on Tuesday announced raising $200 million at a market valuation of $2.5 billion.
The funding round, which brings the total raised by the firm to $532 million, was led by Lightspeed Venture Partners, with participation from Greylock, Aspect Ventures / Acrew Capital, Coatue, Singtel Innov8, and Shlomo Kramer. The money will be used to fuel sales, technology, and business growth.
Cato has developed a cloud-native SASE platform designed to securely and optimally connect an organization’s data centers, branches, users and cloud resources. Customers’ traffic goes through Cato’s platform, where it’s analyzed for threats.
The company says its platform is used by more than 1,000 customers, including major organizations. It claims dozens of big enterprises spend over $250,000 in ARR with Cato, and some even spend more than $1 million.
“Cato is at the forefront of SASE transformation,” said Shlomo Kramer, CEO and co-founder of Cato Networks. “Large enterprises are deploying Cato as their global network to reap the operational and business benefits of Cato’s proven and mature SASE platform. Cato is rapidly expanding its service capabilities, global footprint, and sales and marketing teams, while preserving our unique DNA of agility, simplicity, and ease of doing business that is so valued by customers and partners.”
Cato told SecurityWeek that it’s focused on building a large enterprise software company and an IPO is a natural milestone that it expects to occur over the next few years.
Related: SASE Firm Cato Networks Revamps Managed Detection and Response Solution
Related: SASE Firm Cato Networks Raises $77 Million
Related: Report Highlights Massive Scale of Automated Cyberattacks
Related: Secure Access Service Edge Provider Cato Networks Raises $130 Million
Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.
More from Eduard Kovacs
- Hitachi Energy Blames Data Breach on Zero-Day as Ransomware Gang Threatens Firm
- New York Man Arrested for Running BreachForums Cybercrime Website
- Exploitation of Recent Fortinet Zero-Day Linked to Chinese Cyberspies
- Mozilla Patches High-Severity Vulnerabilities With Release of Firefox 111
- Microsoft: 17 European Nations Targeted by Russia in 2023 as Espionage Ramping Up
- Cybercriminals, APT Exploited Telerik Vulnerability in Attacks on US Government Agency
- US Charges Two Men Over Use of Hacked Law Enforcement Database for Doxing
- Chinese Cyberspies Hacked DLP Company Serving Military, Government Orgs
Latest News
- Hitachi Energy Blames Data Breach on Zero-Day as Ransomware Gang Threatens Firm
- NBA Notifying Individuals of Data Breach at Mailing Services Provider
- Adobe Acrobat Sign Abused to Distribute Malware
- New York Man Arrested for Running BreachForums Cybercrime Website
- Huawei Has Replaced Thousands of US-Banned Parts With Chinese Versions: Founder
- Latitude Financial Services Data Breach Impacts 300,000 Customers
- US Government Warns Organizations of LockBit 3.0 Ransomware Attacks
- New ‘Trigona’ Ransomware Targets US, Europe, Australia
