Secure Access Service Edge (SASE) and Network-as-a-Service (NaaS) solutions provider Perimeter 81 has closed a $40 million Series B funding round that brings the total raised by the company to $65 million.
Founded in 2018 and headquartered in Tel Aviv, Israel, the startup provides a cloud-based Security-as-a-Service (SaaS) solution that aims to secure access to the local network, cloud resources, and business applications.
The company also provides endpoint security, along with user and branch internet security and branch interconnectivity.
The SASE platform that Perimeter 81 announced in February this year combines the company’s existing NaaS offering with SonicWall cloud security capabilities, to deliver the necessary networking and security tools in one product.
Since 2018, the company claims it has seen a 400% year-over-year growth in annual revenue, courtesy of high demand for its products across all major geographies. Perimeter 81 says it’s expanding rapidly, and is looking to grow its sales, marketing and R&D teams, and to open a California office.
The new funds, the company says, will help it fuel growth and accelerate hiring and development.
“This latest funding round will launch us forward as we build our complete SASE solution. With this platform, we aim to eliminate tool sprawl and consolidate fragmented legacy technologies — protecting businesses globally from large scale, and potentially devastating, cybersecurity breaches,” Perimeter 81 co-founders Amit Bareket and Sagi Gidali noted in a blog post.
The funding round was led by Insight Partners.