Updated · Jun 24, 2022
Cybersecurity Firm Perimeter 81 Raises $100 Million, Reaches Unicorn Status
Updated · Jun 06, 2022
Perimeter 81 announced it is now a billion-dollar company on Monday.
Perimeter 81 has announced that it has raised $100 million in a Series C funding round. According to the leading cloud and network security company, it now has a $1 billion valuation, effectively reaching unicorn status.
Global investment firm B Capital led the funding round. It also received backing from Insight Partners, Toba Capital, ION Crossover Ventures, and Entrée Capital Spring Ventures.
“We remain committed to helping companies worldwide secure all of their networks and users in an agile, cost-effective, and scalable way,” the firm said in a statement. “This new funding allows us to continue to develop radically simpler, highly innovative network security solutions and further disrupt this industry.”
Israeli-based Perimeter 81 offers VPN as a Service (VPNaaS), Firewall as a Service (FWaaS), and Zero Trust Network Access solutions. Its platform currently exists within the Secure Access Service Edge (SASE) framework. However, the cybersecurity company says that it sees a future with Secure Service Edge (SSE). As a result, it is turning its attention to that area.
CEO Amit Bareket says that the raised funds will go towards product development. It seeks to become a one-stop hub for corporate network security. Perimeter 81 wants to help companies move past infrastructures like traditional corporate VPNs and firewalls. That’s due to the growing number of remote workers.
“With employees working from anywhere and businesses moving to the cloud, we’ve doubled down to build a platform where we’ll allow businesses from any size to build a secure corporate network over the internet without installing any physical infrastructure,” he said.
Daniel is an Economics grad who fell in love with tech. His love for books and reading pushed him into picking up the pen - and keyboard. Also a data analyst, he's taking that leap into data science and machine learning. When not writing or studying, chances are that you'll catch him watching football or face-deep in an epic fantasy novel.
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