Cato Networks Team from company Facebook page
Cato Networks, an Israeli startup and unicorn that provides the world’s first Secure Access Service Edge (SASE) platform, is now a member of the super elite club of companies known as Centaurs, having annual recurring revenue of $100 million. This comes just five years after Cato had only $1 million in revenue, making it the fastest growing enterprise network security startup. A Centaur is basically any startup that brings in at least $100 million in annual recurring revenue.
Cato Networks, which has raised over $550 million to date, first became a unicorn in November 2020. The company specializes in Secure Access Service Edge (SASE) for cloud-based services. And cloud-based security service firms are exploding these days as everything is moving into the cloud, from software as a service – MS Office is moving that way – to online servers to hold an organization’s data, sparing it the cost and trouble of housing its own servers.
So, why is this so valuable that a startup company can show large revenues at a time when so many other firms are letting go of employees and making other cutbacks due to the worldwide financial crisis?
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Well, Cloud delivery and convergence of capabilities are transforming IT, explains Cato Networks. Cato says that whether a company is in the Fortune 500 or 500-employees, all can be connected and secured by the Cato SASE Cloud. The percentage of new single-vendor SASE deployments is expected to more than triple in the next three years. According to Gartner, “By 2025, one-third of new SASE deployments will be based on a single-vendor SASE offering, up from 10% in 2022.” At the same time, Gartner expects that the SASE market will grow at a CAGR of 35.8%, reaching almost $21 billion by 2026.1
Founded in 2015 by Shlomo Kramer, one of the founders of Check Point and Imperva, and Gur Shatz Cato Networks provides a single-vendor SASE platform, converging Cato SD-WAN and a cloud-native security service edge, Cato SSE 360, into a global cloud service. Cato SASE Cloud optimizes and secures application access for all users and locations everywhere. Using Cato, customers easily replace costly and rigid legacy MPLS with modern network architecture based on SD-WAN, secure and optimize a hybrid workforce working from anywhere, and enable seamless cloud migration.
To date, Cato SASE Cloud has been adopted by 1,500+ enterprise customers spanning 23,000+ branch locations and cloud instances and 450,000+ remote users across 150+ countries.
“Cato is leading the biggest disruption of the networking and network security markets since the introduction of the next-generation firewall 17 years ago,” says Alon Alter, Chief Revenue Officer at Cato Networks. “The simplicity, agility, visibility, and control of the Cato SASE Cloud brings world-class security protection and optimal network performance to businesses of all sizes. Driven by security and networking experts, Cato has the right service DNA and technology to become the mission-critical platform for the digital enterprise.”
