Israeli cybersecurity company Perimeter 81 has secured a $100m (£79.6m) round of funding, raising its valuation to $1bn (£796m).
The raise was led by B Capital, with participation from other investors, including Insight Partners, Toba Capital, ION Crossover Ventures, Entrée Capital, and publicly-traded Spring Ventures.
Perimeter 81 says it offers an SSE platform that enables businesses to easily secure remote access, network traffic, and endpoint devices with its cloud-delivered Zero Trust Network Access, Firewall as a Service, and Secure Web Gateway (SWG) offerings.
The capital will be used to further accelerate the development and distribution of its SSE offering, the firm said.
“The rise of remote work, cloud adoption, fibre, and 5G has created a fundamental shift in the network security landscape, leading companies to replace their on-premises network and security appliances with a secure corporate network over the internet,” said Perimeter 81 co-founder and CEO, Amit Bareket. “B Capital and other investors embrace our vision to deliver holistic security that is purpose-built for a cloud-first, distributed workforce and share our belief that a secure corporate network over the internet transcends the traditional office environment and is the way of the future.”
The cybersecurity firm said it has doubled ARR YoY and is rapidly expanding by hiring for multiple positions across its sales, marketing, and R&D teams at its headquarters in Tel Aviv and its New York City and LA offices.
