Series C Funding Round Brings Company Valuation to $1 Billion
Secure Access Service Edge (SASE) and Zero Trust Network Access (ZTNA) solution provider Perimeter 81 has closed a $100 million Series C funding round led by B Capital.
This latest funding round values the company at $1 billion and brings the total amount raised by the company to $165 million.
The additional cash will be used to fuel its growth in the network security market and support its sales, marketing and R&D efforts.
Perimeter 81’s Platform Helps Enterprises Secure Remote Access, Network Traffic and Endp
anoint devices with its cloud-delivered Zero Trust Network Access, Firewall as a Service and Secure Web Gateway (SWG) offerings.
The company says it has more than 250 employees, nearly 2,400 customers and has more than doubled its annual recurring revenue (ARR) year-over-year, with offices in Tel Aviv, New York and Los Angeles.
“The rise of remote working, cloud adoption, fiber and 5G has created a fundamental shift in the network security landscape, causing enterprises to replace their network and security devices on site through a secure corporate network over the Internet,” said Perimeter 81 Co-Founder and CEO, Amit Bareket. “B Capital and other investors are committed to our vision to deliver holistic security purpose-built for a cloud-first distributed workforce and share our belief that a secure enterprise network on the Internet transcends the environment. traditional desktop and is the way of the future.”
Other Series C investors include Insight Partners, Toba Capital, ION Crossover Ventures, Entrance Capital and the publicly traded Spring Ventures.
Perimeter 81 previously raised $40 million in a Series B funding round announced in August 2020.