Israel-headquartered network security software provider Cato Networks secured $130m on Wednesday from investors including Singtel Innov8, the corporate venturing arm of telecoms firm Singapore Telecommunications.
Venture capital firm Lightspeed Venture Partners led the round, which included investment manager Coatue, Greylock, Acrew Capital and its Aspect Ventures predecessor and Cato co-founder Shlomo Kramer. It valued the company at $1bn pre-money.
Cato has developed secure access service edge (SASE) technology that combines IT networking and security on a single platform. The round lifted its funding to $332m since it was founded in 2015 and the proceeds will go to technology development and market expansion.
Greylock led a $30m series B round for the company in 2016 that also featured Singtel Innov8, Shlomo Kramer and fellow co-founder Gur Shatz as well as existing investors US Venture Partners (USVP) and Aspect Ventures.
All the series B participants returned for a $55m series C round led by Lightspeed Venture Partners in January 2019, before the same investors added $77m in April this year.
Kramer said this week: “SASE is the hottest area in IT, and this funding round further attests to Cato’s leadership of the SASE market. Only the Cato Cloud was built from the ground up as a converged and cloud-based global SASE service.”
