The company's SASE platform is used by over 1,800 organizations to securely connect their offices, cloud environments, and other technology assets. The platform also includes cybersecurity tools that can detect malware, block malicious domains, and perform other breach prevention tasks. Cato Networks' revenue is growing at a year-over-year rate of over 60%, and its gross dollar retention rate now exceeds 95%.
Key takeaways:
- Cato Networks, a secure access service edge (SASE) provider, has raised $238 million in a funding round, valuing the company at over $3 billion.
- The company plans to go public within 12 months and use the funding to hire 100 new employees, expecting to have about 900 employees after the recruitment drive.
- Cato's SASE platform, used by more than 1,800 organizations, combines networking features with cybersecurity tools, simplifying network operations and reducing the need for multiple products.
- The company's revenue is growing at a year-over-year rate of more than 60%, and its gross dollar retention rate now exceeds 95%. The new funding will be used to expand its partner ecosystem and develop new networking and security capabilities.