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Check Point Buys Former Unicorn Perimeter 81 for $490 Million

Perimeter 81

Perimeter 81 founders Sagi Gidley and Amit Barkat

Check Point, Israel’s most renowned cybersecurity firm, has acquired Israeli cybersecurity startup Perimeter 81 for $490 million. Unfortunately, for Perimeter, until recently the firm had a billion plus valuation and the coveted unicorn status.

Perimeter 81 hit unicorn status in June of 2022 after raising $100 million in a Series C round of funding. But, as they say, easy come, easy go. But that is just a valuation based on what investors are willing to pay for a share of the company. And we have had plenty of examples over the years of way overvalued startups that died out quickly. Remember Pets.com?

Check Point said that it intends to leverage Perimeter 81´s capabilities and integrate them into Check Point Infinity’s architecture to deliver a unified security solution across the network, cloud, and remote users, powered by industry leading threat prevention.

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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. The company has raised a total of $165 million to date.

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.

“With the advent of hybrid work and the rise of cloud transformation, the demand for security services that expand beyond the network perimeter is increasing,” said Gil Shwed, CEO at Check Point Software Technologies. “By leveraging Perimeter 81’s capabilities and integrating them into the Check Point Infinity platform we continue with our vision to deliver the best security through comprehensive, collaborative and consolidated solutions.”

“This strategic move marks an exciting period for our company, partners, and customers. By joining Check Point, a global leader in cyber security for over 30 years, we aim to deliver the premier SASE platform in the market,” said Amit Bareket, CEO at Perimeter 81. “Our interconnection represents a significant step towards a comprehensive and scalable security for the modern era. We look forward to the positive impact we will jointly create.”

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