Home Startups Cybersecurity startup Cato Networks raises $55 million

Cybersecurity startup Cato Networks raises $55 million

Startup funding

Cybersecurity startup Cato Networks raised $55 million in an investment round led by Lightspeed Venture Partners along with the participation from existing investors Aspect Ventures, Greylock Partners, Singtel Innov8, and USVP.

The Tel Aviv-based startup provides network security services to enterprises by integrating secure web gateway, advanced threat protection, next-generation firewall, and global SD-WAN (software-defined WAN) into a single cloud service called Cato Cloud. Cato Networks claims that enterprises rely on its cloud security platform to connect and secure their corporate networks globally.

Co-founded by Shlomo Kramer, a network security expert and the innovator of the Web Application Firewall, Cato Networks stated the new investment will support its vision to become a global cloud-native carrier, protecting all enterprises, mobile users, and cloud resources.

“We are excited to have Lightspeed join our journey to build the new network for the business,” said Shlomo Kramer, CEO, and co-founder of Cato Networks. “Cato goes beyond edge SD-WAN, MPLS, and network security point solutions, to offer a full WAN transformation platform. Cato closes the huge gap between the needs of the digital business, and the rigid, slow, and expensive networks provided by legacy telcos, using a groundbreaking cloud-native carrier architecture. Cato is powered by cloud-scale software, self-service management, and elastic compute and bandwidth to provide the new foundation for the growth of the business.”

Speaking on the investment move Yoni Cheifetz, partner at Lightspeed, said, “Cato is a transformative force in the stagnant managed network services market. Businesses are looking for an affordable, agile, and scalable network to drive strategic initiatives like global expansion, hybrid cloud, and workforce mobility. Today’s rigid networks aren’t built to support this growth, and this is the multi-billion-dollar market opportunity Cato is going after.”