SD-WAN and SASE Vendor Cato Networks gets $77M in Latest Funding Round

Big news for SD-WAN and SASE provider Cato Networks. Last year we broke the news on their partnership with UCaaS leader RingCentral, the addition of their no-cost SIEM to their solution and this past January we reported on their survey which shows 66% of companies will deploy some sort of SD-WAN in 2020.

Today, they announced an investment of $77M led by Lightspeed Venture Partners with the participation of Aspect Ventures, Greylock Partners, Singtel Innov8, U.S. Venture Partners (USVP), and Shlomo Kramer. This investment brings the total funding raised to date to over $200M. It comes on the heels of an incredible year that saw a 220% increase in bookings and a very strong first quarter of 2020.

Shlomo Kramer, CEO and co-founder of Cato Networks

“This round of financing is a testament to the unique value Cato delivers to customers even under the most difficult business conditions. The global pandemic has disrupted business-as-usual and underscored the need for an adaptable infrastructure,” says Shlomo Kramer, CEO and co-founder of Cato Networks. “While many companies struggle to enable work-from-home remote access to all employees, Cato customers only had to flip-a-switch. That’s the power of one converged global network and security platform enabling enterprises to be ready for whatever’s next.”

Unlike legacy networks built from multiple point-solutions and telco services, Cato connects and secures the entire enterprise – remote users, sites, applications, and clouds with a global cloud service. Cato is the first true implementation of Gartner’s Secure Access Service Edge (SASE) framework that describes an architecture that converges SD-WAN and network security for all enterprise “edges” into the cloud. Cato was recognized as a “Sample Vendor” in the SASE category of Gartner’s Hype Cycle for Enterprise Networking, 2019.

Yoni Cheifetz, Partner at Lightspeed.

“Cato revolutionizes the way IT thinks about networking and security. The convergence of these two categories is a paradigm shift that completely transforms the IT cost-benefit model,” says Yoni Cheifetz, Partner at Lightspeed. “It’s why Cato routinely displaces legacy telco services and appliance-based solutions in enterprises of all sizes. We believe Cato is uniquely positioned to disrupt the global market for security, networking, and access with an architecture that is unmatched by any other solution available today.”

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