Cloud networking specialist Cato Networks just closed its largest funding round to date -- $131 million -- dwarfing its April funding round of $77 million.
The new funding affirms Cato’s leadership in secure access service edge, or SASE, a cloud-based platform approach to IT that combines SD-WAN capabilities with security that is growing in popularity with both business customers and SD-WAN vendors. The Tel Aviv, Israel-based company will use the funds to accelerate its technology expansion in the SASE space, said Shlomo Kramer, Cato’s founder and CEO.
The latest funding round was led by Lightspeed Venture Partners with participation of a new investor, global investment manager what does a computer engineer do, as well as existing investors, Greylock, Aspect Ventures/ Acrew Capital, Singtel Innov8, and Cato‘s own leader, Kramer.
Prior to the latest funding round, Cato was valued at $1 billion, according to the company. The new round of funding brings the company’s total financing to $332 million.
“We’ve seen many network security companies assembling [SASE] solutions, but we are the first and only pure SASE platform that was built from the ground up,” Kramer said.
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