07 Apr Cato Networks secures $77M investment in largest funding round yet | Light Reading
TEL AVIV, Israel Cato Networks, provider of the world’s first SASE platform, announced today an investment of $77M 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 to over $200M. It comes on the heels of an incredible year that saw a 220% increase in bookings and a very strong first quarter of 2020.
“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,” says Shlomo Kramer, CEO and co-founder of Cato Networks. “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.”
Cato’s approach validated by industry adoption of Gartner SASE
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. Cato is the first true implementation of Gartner’s Secure Access Service Edge (SASE) framework that describes an architecture that converges SD-WAN and network security for all enterprise “edges” into the cloud. Cato was recognized as a “Sample Vendor” in the SASE category of Gartner’s Hype Cycle for Enterprise Networking, 2019.
“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,” says Yoni Cheifetz, Partner at Lightspeed. “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.”
Cato enables enterprises to weather the crisis of today and prepare for the opportunities of tomorrow
With Cato, enterprises reduce capital and operational costs and improve user experience everywhere. Cato is an affordable MPLS alternative, allowing enterprises to phase out costly, telco services. With Cato’s Firewall as a Service, enterprises no longer incur the expense of purchasing, deploying, and scaling security appliances. And, customers can gradually deploy incremental capabilities with ease. Need widespread, scalable remote access? Cato software-defined perimeter (SDP) provides client and clientless remote access options can be deployed anywhere in minutes.
Whether your initial need is better connectivity, stronger security, easy cloud migration, or scalable remote access, Cato has you covered and ready for whatever comes next.