Cato Networks

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]

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]
ProductsNetworking equipment
Number of employees
500 (February 2022)[2] [3]
Websitewww.catonetworks.com

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. "Industry Voices—Chua: Cato Networks goes from dark horse to $1B unicorn". Fierce Telecom. November 17, 2020. Retrieved March 16, 2022.
  2. "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. "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. "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. "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. "Another Israeli Unicorn Is Born: Cyber Company Cato Networks Raises $130 Million". Haaretz. November 17, 2020. Retrieved March 16, 2022.(subscription required)
  12. "Cato Pushes MDR Into SASE Play". SDX Central. June 22, 2021. Retrieved March 17, 2022.
  13. "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. "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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