Cato Networks
TypePrivate
IndustryComputer networking
Founded2015 (2015)
FoundersShlomo Kramer
Gur Shatz
HeadquartersTel Aviv, Israel
Key people
Shlomo Kramer, CEO
Gur Shatz, President and COO[1]
ProductsSecure Access Service Edge
Number of employees
500 (February 2022)[2] [3]
Websitewww.catonetworks.com

Cato Networks is a Tel Aviv, Israel-based network security company that develops Secure Access Service Edge (SASE) technology, which combines enterprise communication and security capabilities into a single cloud-based platform.[1] The company was founded in 2015.[4] After an October 2021 funding round, the company was a tech unicorn valued at $2.5 billion.[5]

History

Cato Networks was founded in 2015 in Tel Aviv, Israel by Shlomo Kramer, co-founder of Checkpoint and Imperva, and Gur Shatz, a co-founder of networking company Incapsula.[4][6] Cato was initially funded with a $20 million Series A from U.S. Venture Partners and Aspect Ventures.[7] Kramer became CEO, and Shatz became president and COO.[1] It secured a Series B round of $50 million in September.[1]

The company officially launched in February 2016.[8] Its first products were designed to protect customers' WAN connections and mobile devices with services including next-generation firewalling, URL filtering, application control and VPN access.[7]

In June 2018, the company added threat hunting capabilities to its networking service.[9]

In 2019, the company secured a $55 million Series C funding round.[10]

In April 2020, the company raised $77 million in a Series D.[1] In November, the company announced a $130 million Series E funding round, led by return investors Lightspeed Partners, with participation from Greylock Partners, U.S. Venture Partners, Aspect Capital, Singaporean fund Singtel's subsidiary Innov8, and hedge fund Coatue Management.[11] The investment reportedly valued the company at over $1 billion, making it a tech unicorn.[11]

In June 2021, the company launched a new version of its managed detection and response (MDR) platform, used to detect security threats on its network.[12] In October, the company announced it had raised $200 million at a $2.5 billion valuation.[10] The round was led by Lightspeed Venture Partners with the participation of existing investors Greylock, Acrew Capital, Coatue, Singtel Innov8, and CEO Kramer.[10]

In February 2022, the company added cloud access security broker (CASB) capabilities to protect cloud applications.[13] Also in February, the company announced it was planning on going public within the next two years.[2] Cato reached $100 million ARR since their founding. This made them one of the fastest growing enterprise network security startup.[14]

Products

Cato Networks develops a Secure Access Service Edge (SASE) platform, which combines SD-WAN, managed security service and global backbone services into a cloud-based service offering.[15] Its products are designed to help IT staff manage network security for distributed workforces accessing resources across the wide area networks (WANs), cloud and Internet that connects them.[15][16] The company's Cato SASE Cloud platform supports more than 73 points of presence in over 150 countries.[2] The company's managed detection and response (MDR) platform combines machine learning and artificial intelligence (AI) models to process network traffic data and identify threats to its customers.[12] The company also offers cloud access security broker (CASB) capabilities to protect cloud applications.[13]

Operations

The company is headquartered in Tel Aviv, Israel. As of February 2022, the company reported over 1,100 customers which it served from 73 points-of-presence worldwide.[2] Also as of February 2022, the company reported 500 employees.[2]

Shlomo Kramer is the company's CEO, and Gur Shatz is its president and COO.[1]

See also

References

  1. 1 2 3 4 5 6 "Industry Voices—Chua: Cato Networks goes from dark horse to $1B unicorn". Fierce Telecom. November 17, 2020. Retrieved March 16, 2022.
  2. 1 2 3 4 5 "As Cato plans for IPO, company to grow headcount by 40%". Light Reading. February 23, 2022. Retrieved March 17, 2022.
  3. ↑ "Cato Networks raises $200m at $2.5b valuation". Globes. October 19, 2021. Retrieved March 16, 2022.
  4. 1 2 "Can Check Point Founder Strike Again?". Fortune. February 10, 2016. Retrieved March 16, 2022.
  5. ↑ "Shlomo Kramer's Cato Networks hits $2.5 billion valuation in $200 million round". CTech. October 19, 2021. Retrieved March 16, 2022.
  6. ↑ "Cato Networks' Cloud Security-as-a-Service Platform Debuts". eWeek. February 9, 2016. Retrieved March 16, 2022.
  7. 1 2 "Cato Networks puts network security in the cloud". Network World. February 18, 2016. Retrieved March 16, 2022.
  8. ↑ "Cato Networks offers a new model for network security as a service". Network World. July 1, 2016. Retrieved March 16, 2022.
  9. ↑ "Cato Networks adds threat hunting to its Network as a Service". Network World. June 4, 2018. Retrieved March 16, 2022.
  10. 1 2 3 "Cato Networks Takes Aim At Cisco, Palo Alto Networks For SASE Dominance With $200M Funding Round". CRN. October 19, 2021. Retrieved March 16, 2022.
  11. 1 2 "Another Israeli Unicorn Is Born: Cyber Company Cato Networks Raises $130 Million". Haaretz. November 17, 2020. Retrieved March 16, 2022.(subscription required)
  12. 1 2 "Cato Pushes MDR Into SASE Play". SDX Central. June 22, 2021. Retrieved March 17, 2022.
  13. 1 2 "Cato clips in CASB security to SASE service". Light Reading. February 2, 2022. Retrieved March 16, 2022.
  14. ↑ Networks, Cato. "Cato Networks Reaches $100 Million ARR in Just Five Years to Become Fastest Growing Enterprise Network Security Startup". www.prnewswire.com (Press release). Retrieved June 8, 2023.
  15. 1 2 "Cato Claims Unicorn Status in Wake of $130M Funding Round". SDX Central. November 17, 2020. Retrieved March 17, 2022.
  16. ↑ "Cato Network snags $130M Series E on $1B valuation as cloud wide area networking thrives". TechCrunch. November 17, 2020. Retrieved March 17, 2022.
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