Cato Networks

Last updated

Cato Networks Ltd.
Company type Private
IndustryComputer networking
Founded2015;9 years ago (2015)
Founders Shlomo Kramer
Gur Shatz
Headquarters Tel Aviv, Israel
Key people
Shlomo Kramer, CEO [1]
ProductsSecure Access Service Edge
Number of employees
1100 (2024)
Website catonetworks.com

Cato Networks Ltd. is a Tel Aviv, Israel-based network security company that develops Secure Access Service Edge (SASE) technology, which combines enterprise communication and security capabilities into a single cloud-based platform. [1] The company was founded in 2015. [2] After an October 2021 funding round, the company was a tech unicorn valued at $2.5 billion. [3]

Contents

History

Cato Networks was founded in 2015 in Tel Aviv, Israel by Shlomo Kramer, co-founder of Checkpoint and Imperva, and Gur Shatz, a co-founder of networking company Incapsula. [2] [4] Cato was initially funded with a $20 million Series A from U.S. Venture Partners and Aspect Ventures. [5] Kramer became CEO, and Shatz became president and COO. [1] It secured a Series B round of $50 million in September. [1] The company officially launched in February 2016. [6] Its first products were designed to protect customers' WAN connections and mobile devices with services including next-generation firewalling, URL filtering, application control and VPN access. [5]

In June 2018, the company added threat hunting capabilities to its networking service. [7] In 2019, the company secured a $55 million Series C funding round. [8] In April 2020, the company raised $77 million in a Series D. [1] In November, the company announced a $130 million Series E funding round, led by return investors Lightspeed Partners, with participation from Greylock Partners, U.S. Venture Partners, Aspect Capital, Singaporean fund Singtel's subsidiary Innov8, and hedge fund Coatue Management. [9] The investment reportedly valued the company at over $1 billion, making it a tech unicorn. [9]

In June 2021, the company launched a new version of its managed detection and response (MDR) platform, used to detect security threats on its network. [10] In October, the company announced it had raised $200 million at a $2.5 billion valuation. [8] The round was led by Lightspeed Venture Partners with the participation of existing investors Greylock, Acrew Capital, Coatue, Singtel Innov8, and CEO Kramer. [8] In February 2022, the company added cloud access security broker (CASB) capabilities to protect cloud applications. [11]

Products

Cato Networks develops a Secure Access Service Edge (SASE) platform, which combines SD-WAN, managed security service and global backbone services into a cloud-based service offering. [12] Its products are designed to help IT staff manage network security for distributed workforces accessing resources across the wide area networks (WANs), cloud and Internet that connects them. [12] [13] The company's Cato SASE Cloud platform supports more than 73 points of presence in over 150 countries. [14]

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References

  1. 1 2 3 4 5 "Industry Voices—Chua: Cato Networks goes from dark horse to $1B unicorn". Fierce Telecom. November 17, 2020. Retrieved March 16, 2022.
  2. 1 2 "Can Check Point Founder Strike Again?". Fortune. February 10, 2016. Retrieved March 16, 2022.
  3. ↑ "Shlomo Kramer's Cato Networks hits $2.5 billion valuation in $200 million round". CTech. October 19, 2021. Retrieved March 16, 2022.
  4. ↑ "Cato Networks' Cloud Security-as-a-Service Platform Debuts". eWeek. February 9, 2016. Retrieved March 16, 2022.
  5. 1 2 "Cato Networks puts network security in the cloud". Network World. February 18, 2016. Retrieved March 16, 2022.
  6. ↑ "Cato Networks offers a new model for network security as a service". Network World. July 1, 2016. Retrieved March 16, 2022.
  7. ↑ "Cato Networks adds threat hunting to its Network as a Service". Network World. June 4, 2018. Retrieved March 16, 2022.
  8. 1 2 3 "Cato Networks Takes Aim At Cisco, Palo Alto Networks For SASE Dominance With $200M Funding Round". CRN. October 19, 2021. Retrieved March 16, 2022.
  9. 1 2 "Another Israeli Unicorn Is Born: Cyber Company Cato Networks Raises $130 Million". Haaretz. November 17, 2020. Retrieved March 16, 2022.(subscription required)
  10. ↑ "Cato Pushes MDR Into SASE Play". SDX Central. June 22, 2021. Retrieved March 17, 2022.
  11. ↑ "Cato clips in CASB security to SASE service". Light Reading. February 2, 2022. Retrieved March 16, 2022.
  12. 1 2 "Cato Claims Unicorn Status in Wake of $130M Funding Round". SDX Central. November 17, 2020. Retrieved March 17, 2022.
  13. ↑ "Cato Network snags $130M Series E on $1B valuation as cloud wide area networking thrives". TechCrunch. November 17, 2020. Retrieved March 17, 2022.
  14. ↑ "As Cato plans for IPO, company to grow headcount by 40%". Light Reading. February 23, 2022. Retrieved March 17, 2022.
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