Israeli cybersecurity company Perimeter 81 today announced the completion of a $100 million Series C financing round led by the US B Capital fund with the participation of Insight Partners, Toba Ventures, Entrée Capital, ION Crossover Ventures and Spring Ventures. This brings to $165 million the total amount raised by the company.
Perimeter 81 raises $40m at $160m valuation
All the money raised, at a company valuation of $1 billion was go into the company’s coffers for future investment. At Perimeter 81’s last financing round in May 2021, the company valuation was $520 million, compared with $330 million in March 2021 and $160 million in the summer of 2020.
Perimeter 81 was founded in 2018 by CEO Amit Bareket and CPO Sagi Gidali, who said that the financing round was closed in the past few days after an extensive acquaintance with the investors. The financing round has been closed despite a slowdown in financing rounds for startups with investors more cautious than in 2021 when record amounts were raised.
Perimeter 81’s founders said that they felt a toughening in the stance of investors who demanded more efficiency from the company. Barket and Sagi said that they will be focusing on acquiring customers with 50-5,000 employees.
Perimeter 81 claims to simplify traditional network security technology with one unified Zero Trust Network as a Service. This approach aims to replace network security based firewall products developed by companies like Check Point and Palo Alto Networks, and the external connection by an enterprise to VPN products.
Published by Globes, Israel business news – en.globes.co.il – on June 6, 2022.
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