Perimeter 81, an Israeli cyber security startup, has raised $100 million in a Series C round of funding led by B Capital, bringing the company’s total valuation up to $1 billion and making it Israel Startup Nation’s latest unicorn.
Former U.S. Treasury Secretary Steven Mnuchin and former US Ambassador to Israel David Friedman invested in the company through their Liberty Strategic VC firm. Perimeter 81 offers firewall products with a unified zero-trust network as a service.
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There are so many Israeli unicorns now – a startup with a $1 billion plus valuation – that this status is no longer really that prestigious anymore. How could it be? Maybe they need to up a unicorn’s valuation to $10 billion plus. So Perimeter 81 is in good company.
In May, for example, Optibus, a developer of an end-to-end software platform for public transportation planning and operations, raised $100 million in Series D fundraising at a valuation of $1.3 billion.
And Unit Finance, an Israeli fintech startup that helps tech companies build financial features into their products, also became a unicorn in May. The company acquired that coveted status when it hit a $1.2 billion valuation with a $100 million Series C Raise.
Founded in 2018 by Sagi Gidley and Amit Barkat Perimeter 81 is a cloud and network security company that specializes in developing safe distant networks for businesses using a zero-trust architecture. They designed its solution to take the place of legacy security equipment such as VPNs and firewalls. Zero-Trust is just what it sounds like: trust no-one or anything when defending against hacking attacks by being absolutely sure that you have the best protections.
“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,” said Amit Barkat.