Israel-headquartered network security provider Cato Networks received $200m yesterday from investors including telecommunications company Singapore Telecommunications’ corporate venturing unit, Singtel Innov8, at a valuation of $2.5bn.
Venture capital firm Lightspeed Venture Partners led the round and was joined by Greylock Partners, Aspect Ventures, Acrew Capital, Coatue Management and Cato Network’s co-founder and chief executive, Shlomo Kramer.
Founded in 2015, Cato provides secure access service edge (SASE) technology that lets users access stored data across the globe, including on cloud and mobile platforms. The funding will support the growth of its business along with its sales and technology.
Lightspeed Venture Partners also led a $130m round for the company in November 2020 that included the same investors and which took its total funding to $332m.
Cato took in $77m through an April 2020 round also led by Lightspeed and backed by US Venture Partners, Aspect Ventures, Greylock and Shlomo Kramer. That came after it raised $55m from the same quintet in January 2019, with Lightspeed once again spearheading the round.
Greylock led a $30m series B round in 2016, investing alongside existing backers US Venture Partners and Aspect Ventures in addition to Shlomo Kramer and Gur Shatz.
Kramer said: “Cato is at the forefront of SASE transformation. Large enterprises are deploying Cato as their global network to reap the operational and business benefits of Cato’s proven and mature SASE platform.
“Cato is rapidly expanding its service capabilities, global footprint, and sales and marketing teams, while preserving our unique DNA of agility, simplicity and ease of doing business that is so valued by customers and partners.”
