Perimeter 81 raises $4.5M to accelerate cloud-agnostic network security offerings market adoption
Perimeter 81, a leading Secure Access Service Edge (SASE) provider, announced that it has completed a $4.5 million Series A extension round, bringing the company’s total funding to $19.5 million raised in under twelve months.
The round was led by Toba Capital, a US-based early-stage investment firm focused on high-growth technology companies. Existing investors also participated. The financing will help support Perimeter 81’s rapid growth and accelerate the development and go-to-market strategy of its holistic, cloud-agnostic Zero Trust Secure Network as a Service.
Perimeter 81 simplifies network security for the modern and increasingly remote and mobile workforce. Since its 2018 inception, the company has emerged as a SASE leader and grew 450% in 2019.
Named a Deloitte Technology Fast 500 for EMEA and a Gartner Cool Vendor, Perimeter 81 has gained immediate market traction and quickly acquired more than 620 clients — including Fortune 500 companies and some of the most prominent organizations in government, entertainment, technology and AI.
“Legacy network infrastructure has proven unable to support the modern security requirements of the modern workforce, creating a global need for unified security and network platforms that are cloud based and easy to use,” said Perimeter 81 CEO and Co-Founder Amit Bareket.
“As corporations of all sizes increasingly work in remote environments and rely upon the cloud to run their businesses, they need new ways of consuming security to effectively prevent cyber-attacks regardless of their location or network environment.
“The investment from Toba Capital will enable Perimeter 81 to grow even faster, add additional security features and fulfill our vision to fully bring network security into the cloud.”
Perimeter 81’s user-centric and highly intuitive Secure Network as a Service enables businesses to more easily secure access to local network resources, cloud environments, and business applications using a 100% cloud service.
Over the next few months, Perimeter 81 will add user and branch internet security, branch interconnectivity and endpoint security to its offering. In February 2020, the company unveiled a new Secure Access Service Edge (SASE) platform that combines its Network as a Service offering with advanced cloud security capabilities licensed from SonicWall.
“Rapid, global adoption of the cloud and widespread employee mobility are driving a radical transformation of security infrastructure including the replacement of traditional firewalls and unification of network and security services under a single SaaS and cloud-based platform,” said Vinny Smith, Managing Partner, Toba Capital.
“Perimeter 81 is at the forefront of this shift to deliver an innovative and consolidated network security platform that simply and securely connects employees to their company’s resources and to the Internet.
“In the past year, they’ve met and exceeded several strategic milestones and Toba Capital looks forward to supporting their continued growth and market adoption here in the U.S.”