Cato Networks bags $77m in biggest funding round yet

Latest round brings total investment raised by SD-WAN vendor to $202m

Cato Networks has secured $77m in its latest funding round, marking its biggest investment round to date.

The capital raised in the Series D round brings the total amount of investment raised by the SD-WAN specialist - which was founded in 2015 - to $202m.

The round was led by Lightspeed Venture Partners and includes a number of other venture capital firms, as well as Cato's co-founder and CEO Shlomo Kramer.

The vendor said that the new funding comes in the wake of an "incredible" year, which saw a 220 per cent increase in bookings, and strong Q1 for 2020.

"This round of financing is a testament to the unique value Cato delivers to customers even under the most difficult business conditions," stated Kramer.

"The global pandemic has disrupted business-as-usual and underscored the need for an adaptable infrastructure.

"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."

Yoni Cheifetz, partner at Lightspeed, added: "Cato revolutionises 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. 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."