Third funding spherical closed in underneath eight months will additional speed up improvement and distribution of the corporate’s disruptive SASE providing
TEL AVIV, Israel–(BUSINESS WIRE)–August 11, 2020–
Perimeter 81, a number one Secure Access Service Edge (SASE) and Network as a Service supplier, introduced as we speak that it has accomplished a $40 million Series B spherical led by Insight Partners. The financing will assist help Perimeter 81’s fast progress and speed up the corporate’s hiring and improvement, furthering its disruption of the normal VPN and Firewall markets.
Perimeter 81 simplifies community safety for the fashionable and more and more distant and cell workforce. Since its 2018 inception, the corporate has emerged as a pacesetter in Secure Access Service Edge (SASE), rising over 400% in annual recurring income year-over-year. Perimeter 81 has beforehand raised $25 million from its seed investor Spring Ventures led by Aviv Refuah, and Series A traders SonicWall and Toba Capital. Three rounds of funding had been accomplished in underneath eight months on account of the excessive demand for the corporate’s options and exponential buyer progress throughout all main geographies.
“With COVID-19, we witnessed an incredible surge in the demand for our services as the transition to remote work — which occurred virtually overnight — illuminated the need for companies worldwide to depart from their legacy hardware-based security and fully embrace a holistic, cloud edge network,” mentioned Perimeter 81 co-founder and CEO, Amit Bareket. “We are thrilled that Insight Partners embraces our vision and shares our belief in the importance of forever transforming the way organizations are consuming cyber and network security.”
“We’ve had a long relationship with Insight Partners and have always been closely aligned on the significance of strong SaaS offerings and the value they bring to the market,” mentioned co-founder and CPO, Sagi Gidali. “We are confident that in working together, we can continue to develop highly innovative network security solutions and further disrupt this industry.”
Named a Deloitte Technology Fast 500™ for EMEA and a Gartner Cool Vendor, Perimeter 81 has gained rapid market traction and rapidly acquired near 1,000 prospects – together with Fortune 500 corporations and a number of the most distinguished organizations in authorities, leisure, expertise and AI.
“Over the last few months, companies globally have been forced to initiate a distributed workforce model with the need for employees to securely connect to their company’s network and online resources,” mentioned Thomas Krane, Principal at Insight Partners who might be becoming a member of the Perimeter 81 board. “Perimeter 81 has successfully solved this challenge by bringing the security requirements of Fortune 500 companies into an accessible cloud-based platform suited for the remote workforce. We are thrilled to continue our commitment to the Israeli cyber ecosystem and partner with Amit, Sagi, and the rest of the team on the next phase of their ScaleUp journey.”
Perimeter 81’s user-centric and extremely intuitive Secure Network as a Service allows companies to extra simply safe entry to native community sources, cloud environments, and enterprise functions. It additionally provides person and department web safety, department interconnectivity and endpoint safety.
In February 2020, Perimeter 81 unveiled a brand new Secure Access Service Edge (SASE) platform that mixes its Network as a Service providing with superior cloud safety capabilities from SonicWall. This collaboration is consolidating a wide range of important networking and safety instruments right into a single platform, eliminating software sprawl and offering a one-stop-shop for cybersecurity companies. Perimeter 81 has launched DNS Filtering, and with SonicWall, will proceed to roll out security measures to prospects all through 2020, beginning with FWaaS.
The firm is quickly increasing, hiring for a number of positions throughout its Sales, Marketing and R&D groups, and is opening a brand new workplace in California.
About Insight Partners
Insight Partners is a number one world enterprise capital and personal fairness agency investing in high-growth expertise and software program ScaleUp corporations which might be driving transformative change of their industries. Founded in 1995, Insight Partners has invested in additional than 400 corporations worldwide and has raised by way of a collection of funds greater than $30 billion in capital commitments. Insight’s mission is to search out, fund, and work efficiently with visionary executives, offering them with sensible, hands-on software program experience to foster long-term success. Across its folks and its portfolio, Insight encourages a tradition round a perception that ScaleUp corporations and progress create alternative for all. For extra data on Insight and all its investments, go to www.insightpartners.com or observe us on Twitter @insightpartners.
About Perimeter 81
Perimeter 81 is a number one Secure Access Service Edge (SASE) supplier that has taken the outdated, complicated and hardware-based community safety applied sciences, and remodeled them into one unified, scalable and easy-to-use software program answer – simplifying safe entry for the fashionable and distributed workforce. Founded by two IDF elite intelligence unit alumni and serial entrepreneurs, CEO Amit Bareket and CPO Sagi Gidali, Perimeter 81 is headquartered in Tel Aviv, the guts of the startup nation, and has workplaces in New York and California. Perimeter 81’s purchasers vary from small companies to Fortune 500 firms throughout a wide range of sectors, and our companions are among the many world’s foremost integrators, managed service suppliers and channel resellers. To study extra go to www.perimeter81.com or observe us on LinkedIn.