Cato Networks, the provider of the world's first SASE platform, announced on Tuesday its largest funding round to date of $200 million at a market valuation of $2.5 billion.
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The round was led by Lightspeed Venture Partners with the participation of existing investors Greylock, Acrew Capital, Coatue, Singtel Innov8, and Shlomo Kramer. The new funds will fuel Cato's sales, technology, and business growth to further support the security and global networking needs of large enterprises.
"Cato is at the forefront of SASE transformation," said Shlomo Kramer, CEO and co-founder of Cato Networks. "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."
The Cato SASE Cloud is distributed across more than 65 PoPs worldwide. With such extensive geographic coverage and a proven technology stack, Cato has been able to address the needs of very large global enterprises. Today, dozens of such enterprises spend more than $250,000 in annual recurring revenue (ARR) with Cato, an increase of 163% year-over-year, and several global enterprises spend over $1 million in ARR.
