Cato Networks, a firm poised to take advantage of the sudden acceleration of business transformation and working from home caused by the COVID-19 pandemic, has raised $77 million in a Series D funding round.
The funding is led by Lightspeed Venture Partners with participation from Aspect Ventures, Greylock Partners, Singtel Innov8, U.S. Venture Partners (USVP), and Shlomo Kramer (co-founder and CEO). It brings the total raised to date to $202 million.
Tel Aviv, Israel-based Cato Networks was founded in 2015 by Kramer and Gur Shatz (CTO). It is an early provider of the emerging technology known as secure access service edge (SASE). The technology converges the function of network and security point solutions into a unified, global cloud-native solution. It reduces the complexity of both the network architecture and securing that network, while making response to new developments and demands more agile.
This is particularly relevant today. "The global pandemic has disrupted business-as-usual and underscored the need for an adaptable infrastructure," said Kramer. "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."
The funding was arranged prior to the pandemic, which has simply thrown a growing movement towards distributed networks and home working into overdrive. Cato extends networking and security to each user's laptop, phone or tablet. With a CATO client or clientless browser access, such users dynamically connect to the nearest Cato PoP, from where they are routed to on-premise or cloud applications. Cato's security protects against threats and enforces application access control.
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