Home Computing Edging toward $1b, Cato Networks clinches $238m in funding

Edging toward $1b, Cato Networks clinches $238m in funding

by Amelia Ramiro

Israeli cybersecurity company, Cato Networks, has recently raised $238 million in equity investment, bringing the total amount raised in its history to $773 million. Cato Networks specializes in secure access service edge (SASE) technology and counts clients such as Carlsberg and TAG Heuer among its satisfied customers.

The funding round was led by LightSpeed Venture Partners, with participation from Adams Street Partners, Softbank Vision Fund 2, Sixty Degree Capital, and Singtel Innov8. This significant investment has propelled the Tel Aviv-based company’s valuation to $3 billion.

Cato Networks has been gaining recognition in the industry, recently being recognized as a ZTE (zero trust edge)/SASE leader by Forrester Research, and as a challenger in Gartner’s Magic Quadrant for single-vendor SASE.

Founded in 2015 by Check Point Software and Imperva cofounders Shlomo Kramer and Gur Shatz, Cato Networks has proven its ability to provide optimal security for businesses of all sizes without the complexity and costs associated with multiple point solutions.

Kramer expressed his gratitude and confidence in Cato Networks, stating, “Cato’s SASE platform uniquely enables organizations of all sizes to optimally secure their businesses without the cost, complexity, and risk of owning and maintaining a pile of point solutions. Cato provides the only SASE platform creating a seamless customer experience and empowers IT to move at the speed of business.”

In other news from the Israeli cybersecurity sector, Bionic, a startup focused on securing cloud-native applications, announced its acquisition by Texas-based cybersecurity giant CrowdStrike for around $350 million. Bionic has developed a platform that helps companies manage risks associated with apps and has raised $83 million in funding.

The 100-strong Bionic team, founded by Idan Ninyo and Eyal Mamo, both graduates of IDF’s elite cyber units, has been making waves in the industry since its establishment in 2019.

Overall, these recent developments in the Israeli cybersecurity scene highlight the industry’s growth and the increasing focus on securing digital infrastructure in today’s interconnected world. With companies like Cato Networks and Bionic leading the way, businesses can feel more confident in their cybersecurity measures and better protect their valuable information.

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