Israeli startup Cato Networks bags $130m funding round

Israeli startup and provider of the Secure Access Service Edge (SASE) platform Cato Networks has secured $130 million in a new funding round, at a valuation of over $1 billion, joining the club of unicorns.

The round was led by Lightspeed Venture Partners with the participation of investment from Coatue, Greylock, Aspect Ventures/Acrew Capital, and Singtel Innov8, according to Venture Beat.

The company will use the fresh fund to continue hiring and building out its infrastructure and expand its marketing.

Founded in 2015, Cato provides enterprises a converged SD-WAN and network security platform delivered as a global cloud service.

Aligned with Gartner’s Secure Access Service Edge (SASE) framework, Cato Cloud connects all data centers, branches, mobile users, and cloud resources into an agile and secure global network.

With Cato, enterprises reduce capital and operational costs and improve user experience everywhere.

This new fundraising come after the company bagged $77 million in April which brought the total funding raised to date to over $200 million.

The round was led by Lightspeed Venture Partners with the participation of Aspect Ventures, Greylock Partners, Singtel Innov8, U.S. Venture Partners (USVP), and Shlomo Kramer

Lightspeed Venture Partners actively invests across the US, India, and China, and has helped many startups scale into multi-billion-dollar companies.

Some of these include Snap and Nutanix (US), Pinduoduo and Man Bang Group (China), OYO Rooms, Udaan, and Byju’s (India). Its past exits from Asia include China’s Meituan and Pinduoduo.

In September, the Silicon Valley-based venture capital firm is officially open for business in Southeast Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.