Israeli cybersecurity startup Perimeter 81 secures $10M to grow its “Network as a Service” platform
Back in March, we wrote about Perimeter 81 when the Tel Aviv, Israel-based cybersecurity startup raised $5 million funding to invest in expanding the sales, marketing and R&D teams in its Tel Aviv and New York offices, and developing new cloud firewall capabilities. Since then, Perimeter 81 has experienced exponential growth and partnerships with other leading security companies to deliver a comprehensive solution to its clients.
Today, Perimeter 81 announced it has signed a partnership agreement with SonicWall, a 28-year old security company that defends small and medium businesses, enterprises and government agencies worldwide. Along with the partnership, Perimeter 81 also announced it has closed $10 million Series A investment round to expand its network as a service platform. The round was led by SonicWall, a Francisco Partners portfolio company, together with Spring Ventures, and other existing investors.
As part of the partnership agreement, the two companies will integrate SonicWall’s advanced security solutions and Perimeter 81’s matured and innovative Zero Trust Network as a Service solution. Both company’s platforms will offer an easy-to-use “Secure Network as a Service” solution that provides Zero Trust access to internal resources, user and branch internet security, branch interconnectivity and endpoint security in one place.
Founded in 2018 by two IDF elite intelligence unit alumni, CEO Amit Bareket and CPO Sagi Gidali. The team of security as a service experts comes together every day to deliver a truly innovative, world-class network security service. Perimeter 81’s clients range from SMB to include Fortune 500 businesses and industry leaders across a wide range of sectors, and its partners are among the world’s foremost integrators, managed service providers and channel resellers.
The latest funding round is the latest move in a year of exponential growth for Perimeter 81. Launched in February 2018, the company has already seen 400% year over year revenue growth, expanding from 180 businesses using Perimeter 81 to 500 in the past eleven months alone. More than 81% of Perimeter 81’s customers use it as their secure corporate network and not only as Zero Trust Access, replacing the need for a VPN.
“As we see greater numbers of companies, from SMBs to enterprises and governments, making the move to a perimeter-less organization largely supported by cloud services, Perimeter 81 has seen tremendous growth,” said Amit Bareket, Co-Founder and CEO of Perimeter 81. “When we created our Network as a Service solution, we made it possible to easily offer security solutions on top of our existing platform. We are excited to partner with SonicWall in order to provide the most advanced Secure Network as a Service available today”. ”
“We are excited to partner with Perimeter 81. This relationship will allow us to provide a wide range of businesses, from SMBs to Fortune 500s and governments, with our award-winning Capture Cloud Platform and real-time breach detection and prevention solutions, while allowing them to adopt a Zero Trust Security architecture that delivers tremendous efficacy in securing the modern organization,” said SonicWall President and CEO Bill Conner. “Going forward, our customers and partners have choices between on-premise, cloud, and now, Secure Network as a Service all with integrated management within Capture Security Services. We believe this will ensure that our customers continue to fearless.”