Cato Networks raises $130 mil Series E for platform converging security and networking

The cloud-based service is expected to contribute to the transformation of the enterprise networking and security markets

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Cato Networks, provider of the world's first secure access service edge (SASE) platform, has secured $130 million in a Series E funding round, its largest to date. The capital is expected to boost its expansion in the SASE market and accelerate development of its technology.

The round was led by Lightspeed Venture Partners with participation of a new investor, Coatue, and existing investors, Greylock, Aspect Ventures/Acrew Capital, Singtel Innov8, and Shlomo Kramer. Before the round, Cato was valued at $1 billion. 

SASE converges networking and security capabilities into one global platform, improving security effectiveness and increasing agility while reducing operational costs.

"SASE is the hottest area in IT, and this funding round further attests to Cato's leadership of the SASE market," said Shlomo Kramer, CEO and co-founder of Cato Networks. "Only the Cato Cloud was built from the ground up as a converged and cloud-based global SASE service." Kramer is a serial entrepreneur who also co-founded cybersecurity companies Check Point and Imperva. 

Yoni Cheifetz, a partner at Lightspeed Venture Partners, commented that "SASE will transform the multi-billion-dollar markets for enterprise networking and security, and we believe Cato will lead this transformation. Cato's architecture is purposely built to enable IT to support current and future business requirements such as the need to dynamically support secure and optimized work from anywhere."

Cato says its platform connects and secure all enterprise edges, such as sites, mobile users, and cloud resources. Cato's cloud-native platform is distributed across more than 60 points of presence (PoPs) worldwide.

Using Cato Cloud, customers can easily migrate from MPLS to SD-WAN, optimize connectivity to on-premises and cloud applications, enable secure branch Internet access everywhere, seamlessly integrate cloud datacenters into the network, and connect mobile users with Cato SDP client and clientless access options, according to the company.