Today, we are thrilled to announce that last week, Perimeter 81 has completed a $100 million Series C funding round led by B Capital, with the participation of Insight Partners, Toba Capital, ION Crossover Ventures, Entrée Capital and publicly-traded Spring Ventures led by Aviv Refuah. This puts us at $1 billion valuation but more importantly, this funding will support our rapid growth and accelerate hiring and development, furthering our disruption of the network security market.
It feels like just yesterday we were working out of a basement, in the center of Tel Aviv, with a dream of building a company to make network security more user-friendly, more accessible, and ultimately more secure. We started Perimeter 81 four years ago, and it is now recognized as a Forrester ZTNA New Wave™ Leader, with close to 2,400 customers, and more than 250 employees across three global offices.
The rise of remote work, cloud adoption, fiber, 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.
To securely empower the modern workforce, we’ve built a highly intuitive platform that streamlines network security management and enables businesses to easily secure remote access, network traffic, and endpoint devices with its cutting-edge and cloud-delivered Zero Trust Network Access, Firewall as a Service, and Secure Web Gateway (SWG) offerings. Our platform is within the framework of Secure Access Service Edge (SASE), but we see the future more in line with Secure Service Edge (SSE), and that’s where we’ve focused our attention. Perimeter 81 provides an easily managed, multi-tenant solution that solves the pain of legacy hardware management and yields high recurring revenue growth.
We appreciate that B Capital and other investors embrace our vision to deliver holistic security 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. It is also our distinguished honor to welcome our new boardmember, Rashmi Gopinath, General Partner at B Capital Group.
We remain committed to helping companies worldwide secure all of their networks and users in an agile, cost-effective, and scalable way. This new funding allows us to continue to develop radically simpler, highly innovative network security solutions and further disrupt this industry. As we celebrate this latest milestone, we also realize our work is not complete. The best is yet to come for Perimeter 81 and the mission of radically simplifying network security and winning this space race!.
Amit and Sagi, Co-Founders