Cato Networks provides cloud security solutions to enterprises through its SASE (Secure Access Service Edge) platform, which it claims to be first in the world to offer SASE. Cato Network’s SASE offering is offered through a networked distributed across 60 locations globally. Cato Networks was founded by Shlomo Kramer, who also co-founded incumbent cybersecurity company Check Point Software.
Key customers and partnerships
During the year 2020 the company signed multiple Fortune 500 companies and as of February 2021, it served 800 enterprises across 9,000 locations, translating to 200,000 remote workers who utilize Cato’s SASE offering daily. As of November 2020, the company employed 270 staff with plans to reach 400 by the end of 2021.
Funding and financials
Cato Network’s last funding round was in September 2023, where it raised USD 238 million in funding in a round led by LightSpeed Venture Partners, at a valuation exceeding USD 3 billion. The company expected to use the funding to grow its partner ecosystem, expand its customer base, and increase headcount, specifically in its product and engineering divisions. Cato Networks reportedly plans to go public by 2024.
During 2022, Cato reported an ARR of over USD 100 million, with YoY revenue growth of 60%, and a gross retention rate of over 95%.
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