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.