Perimeter 81, a cyber company that provides cloud-based networking and information security solutions, announced today that it has raised $ 40 million as part of Round B, which was led by Insight Partners with the participation of Toba Capital and existing investors. The funding will support the company’s rapid growth and accelerate employee recruitment and development activities in order to continue to offer advanced cloud solutions that replace traditional firewall and VPN markets.
The current round is the last of three rounds of fundraising carried out in the last eight months for a total of $ 65 million, and was carried out as a result of the high demand for the company’s solutions and the extraordinary growth in its number of customers. The list of investors in the company includes, in addition to Insight Partners, Toba Capital, and Spring Ventures, also SonicWall, a portfolio company of the American investment fund Francisco Partners, Gal Ventures and other factors.
Perimeter 81 was founded by Amit Barkat and Sagi Gidley in 2018 and currently provides solutions to about 1,000 business customers and companies worldwide, including Fortune 500 companies. The Seed investment in the company was made by high-tech investor Aviv Refuah through Spring Ventures, which is traded on the Bat Stock Exchange. A. The solutions developed by Perimeter 81 allow businesses to easily secure access to local servers, cloud services and business applications, Internet security for the user and the organization’s branches, connectivity between them and endpoint protection – all in one place as a service – without the use of a physical firewall.
Perimeter 81 has been announced as one of the fastest growing companies in the competition – Deloitte Technology Fast 500 ™ in Europe, the Middle East and Africa, and has also been announced as a Cool Vendor by Gartner. The company has 85 employees in Tel Aviv and New York, and a new office is expected to open in California soon. In addition, the company plans to recruit another 25 employees, 15 of them in Israel, upon completion of the round.
Amit Barkat, CEO and co-founder of Perimeter 81, said: “Since the outbreak of the corona epidemic, we have seen a significant increase in demand for our service when the move to remote work, which accelerated in an instant, caused many companies to abandon traditional hardware-based security (boxes ), And immediately adopt a cloud-based holistic solution for their information security. Thanks to working closely with customers, a strong team and a winning product – we believe that we will be able to fundamentally change the way organizations consume cyber solutions. The significant recruitment will allow us to run faster and do it big time. ”
Sagi Gidley, CPO and co-founder of Perimeter 81, said: “We have a long relationship with Insight Partners and we have always seen with the Foundation eye to eye the importance of SaaS solutions (software as a service) and the value they bring to market. We are confident that together we can Innovative and to be the gold standard for any organization, in any size and from any sector. ”
Thomas Crane, director of the Insight Partners fund, which joins the Perimeter 81 board, said: “Over the past few months, companies from all over the world have had to move to a decentralized work model, which has created the need to connect employees securely to corporate networks. Perimeter 81 has developed a solution “We are successful in this challenge by expanding the security requirements of Fortune 500 companies to an accessible and cloud-based platform suitable for remote work. We are excited to continue to support the Israeli cyber ecosystem, and collaborate with Amit, Sagi, and the rest of the team on their next step as ScaleUp.”
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