Israeli cloud security company Cato Networks announced today the closing of a $77 million financing round led by Lightspeed Venture Partners with the participation of Aspect Ventures, Greylock Partners, Singtel Innov8, U.S. Venture Partners (USVP), and Shlomo Kramer. This investment brings the total funding raised to date by the company to over $200 million.
Tel Aviv based Cato Networks, which has developed a Secure Access Service Edge (SASE) platform, says it saw a 220% increase in bookings and a very strong first quarter of 2020.
Cato Networks cofounder and CEO Shlomo Kramer, a cofounder of Check Point and Imperva said, "This round of financing is a testament to the unique value Cato delivers to customers even under the most difficult business conditions. The global pandemic has disrupted business-as-usual and underscored the need for an adaptable infrastructure. While many companies struggle to enable work-from-home remote access to all employees, Cato customers only had to flip-a-switch. That's the power of one converged global network and security platform enabling enterprises to be ready for whatever's next."
Unlike legacy networks built from multiple point-solutions and telco services, Cato connects and secures the entire enterprise - remote users, sites, applications, and clouds with a global cloud service.
Lightspeed partner Yoni Chefetz said, "Cato revolutionizes the way IT thinks about networking and security. The convergence of these two categories is a paradigm shift that completely transforms the IT cost-benefit model. It's why Cato routinely displaces legacy telco services and appliance-based solutions in enterprises of all sizes. We believe Cato is uniquely positioned to disrupt the global market for security, networking, and access with an architecture that is unmatched by any other solution available today."
Published by Globes, Israel business news - www.globes-online.com - on April 7, 2020
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