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A Glimpse into Cato’s Recent Financing Round
Cato Networks, a leading provider of the world’s foremost single-vendor SASE platform, has successfully raised a staggering $238M in equity investment. This recent influx of funds brings the company’s total funding to an impressive $773M. Spearheading this largest financing round were notable investors such as LightSpeed Venture Partners, Adams Street Partners, Softbank Vision Fund 2, Sixty Degree Capital, and Singtel Innov8. This significant investment comes on the heels of Cato’s recent achievements, including acquiring Carlsberg as a major enterprise customer and earning recognition from esteemed research firms like Forrester and Gartner.
Investor Confidence in Cato’s Potential
The valuation and investment highlight the immense confidence investors have in Cato’s vast market potential and the transformative capabilities of its SASE platform. Ravi Mhatre, the Founder and Managing Director of LightSpeed Venture Partners, will be joining Cato’s board post this round. Mhatre expressed his excitement about guiding Cato towards its next growth phase, emphasizing the company’s potential to disrupt and transform large legacy markets.
Shlomo Kramer, the Co-Founder and CEO of Cato Networks, emphasized that this funding round is a testament to the investor community’s belief in Cato’s leadership within the single-vendor SASE market. He further elaborated on how Cato’s unique SASE platform empowers businesses to secure their operations without the associated costs and complexities of traditional solutions.
Future Plans for Cato Networks
With the newly acquired funds, Cato aims to expand its organization across three pivotal areas:
- Broadening its vision and ensuring customer success reaches a wider audience.
- Enhancing the partner ecosystem that offers managed Cato SASE services.
- Growing the engineering and product team to continue its innovative streak.
Cato’s Market Impact and Achievements
Established in 2015 by industry stalwarts Shlomo Kramer and Gur Shatz, Cato’s vision was to provide enterprise-level security and networking capabilities via a unified cloud service. This vision later inspired the creation of the SASE category. In 2022, Cato surpassed the $100 million ARR mark, showcasing a growth rate of over 60% year-over-year. Their impressive gross dollar retention rate of over 95% stands as a testament to the value they bring to their customers.
Cato Networks continues to be at the forefront of the SASE market, with plans to expand its cloud-first, globally distributed secure network platform. Their focus on AI/ML capabilities for real-time threat detection and response, combined with a zero-touch deployment model, positions them well for future growth and innovation.
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