Israeli network security company Cato Networks has raised $30 million in a series B funding round. The financing was led by Greylock Partners with participation from Singtel Innov8 and existing investors U.S. Venture Partners (USVP), Aspect Ventures and the company’s founders, Shlomo Kramer and Gur Shatz. The funding will allow Cato Networks to offer its cloud-based network security as a service (#NSaaS) solution, the Cato Cloud, to the global market, bringing the cloud’s transformative power to networking and security.
Today’s financing, which is the Tel Aviv-based company's second after closing a $20 million series A round in June 2015, shortly after it was founded, underscores a growing realization that the cloud will alter the way that enterprises address networking and security. This is already occurring in the marketplace, as organizations look to address burdensome network and security complexity.
Cato Networks CEO and cofounder Shlomo Kramer said, “Cato offers a totally new way to cut the cost and complexity of legacy, on-premise networking and security solutions by delivering them as a holistic, agile and scalable cloud service. We aim to strengthen security posture with an agile network security platform that can scale to support any business need and rapidly adapt to emerging threats. Cato is paving the way for a new, scalable and simplified networking and security platform for enterprises of all sizes, and offers lucrative opportunities for channel partners in the networking and security domains.”
Cato Networks CTO and cofounder Gur Shatz said, “With the general availability of the Cato Cloud service and the rapid global deployment of the Cato Cloud Network, enterprises can cut cost and complexity out of their IT infrastructures while improving security posture and enterprise agility. The Cato Cloud is currently in production with our first global, multi-site corporation and we are running concurrent pilots for different use cases across dozens of organizations.”
“Cato Networks is at the forefront of a significant shift in networking and security infrastructure. By combining network cost savings and network security infrastructure elimination, Cato is leading a cloud-based transformation in networking and security, mirroring the way cloud has redefined all other pillars of the IT infrastructure including applications, storage and computing.” said Jerry Chen, Partner at Greylock Partners and Cato Board member. “These market dynamics, coupled with the extensive industry experience and expertise of the Cato team, make us extremely excited about the future potential of the company and the impact it can have on networking and security.”
Published by Globes [online], Israel business news - www.globes-online.com - on September 13, 2016
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