Safe entry service edge (SASE) options supplier Cato Networks introduced an enormous $359 million Sequence G funding spherical on Monday, a deal that the corporate says values it at greater than $4.8 billion.
Based in 2015, the Tel Aviv based mostly firm has now raised greater than $1 billion and claims greater than 3,500 clients.
Cato’s SASE platform supplies safe net gateway (SWG), cloud entry safety dealer (CASB), knowledge loss prevention (DLP), zero belief community entry (ZTNA), firewall-as-a-service (FWaaS), and distant browser isolation (RBI) capabilities.
Cato says the extra funds will likely be used to develop the platform’s AI safety capabilities, speed up platform innovation throughout a number of safety domains, and develop their market presence.
The oversubscribed spherical was led by new traders together with Vitruvian Companions and ION Crossover Companions, alongside current traders Lightspeed Enterprise Companions, Acrew Capital, and Adams Road Companions.
The Sequence G funding just isn’t the primary large spherical raised by the corporate. In September 2023 Cato introduced a $238 million fairness funding and had raised $200 million at a $2.5 billion valuation in October 2021.
Gartner estimates the SASE market will develop at a compound annual progress fee (CAGR) of 26%, reaching $28.5 billion by 2028.
