Secure Access Service Edge Company Perimeter 81 Raises $40 Million

By Annie Baker ● August 15, 2020
  • Perimeter 81 — a leading Secure Access Service Edge (SASE) and Network as a Service provider — announced today that it has raised a $40 million Series B round led by Insight Partners

Perimeter 81 — a leading Secure Access Service Edge (SASE) and Network as a Service provider — announced today that it has raised a $40 million Series B round led by Insight Partners. This funding round will help support Perimeter 81’s rapid growth and accelerate the company’s hiring and development, furthering its disruption of the traditional VPN and firewall markets.

How does Perimeter 81 work? Perimeter 81 simplifies network security for the modern and increasingly remote and mobile workforce. And since its 2018 inception, the company has emerged as a leader in Secure Access Service Edge (SASE), growing over 400% in annual recurring revenue year-over-year.

Perimeter 81’s user-centric and highly intuitive Secure Network as a Service enables businesses to more easily secure access to local network resources, cloud environments, and business applications. And it also offers user and branch internet security, branch interconnectivity and endpoint security.

Perimeter 81 previously raised $25 million from its seed investor Spring Ventures led by Aviv Refuah, and Series A investors SonicWall and Toba Capital. And three rounds of funding were completed in under eight months as a result of the high demand for the company’s solutions and exponential customer growth across all major geographies.

In February of 2020, Perimeter 81 unveiled a new Secure Access Service Edge (SASE) platform that combines its Network as a Service offering with advanced cloud security capabilities from SonicWall. And this collaboration is consolidating a variety of essential networking and security tools into a single platform, eliminating tool sprawl and providing a one-stop-shop for cybersecurity services. Plus Perimeter 81 has launched DNS Filtering and with SonicWall, it will continue to roll out security features to customers throughout 2020, starting with FWaaS.

KEY QUOTES:

“With COVID-19, we witnessed an incredible surge in the demand for our services as the transition to remote work — which occurred virtually overnight — illuminated the need for companies worldwide to depart from their legacy hardware-based security and fully embrace a holistic, cloud edge network. We are thrilled that Insight Partners embraces our vision and shares our belief in the importance of forever transforming the way organizations are consuming cyber and network security.”

— Perimeter 81 co-founder and CEO, Amit Bareket

“We’ve had a long relationship with Insight Partners and have always been closely aligned on the significance of strong SaaS offerings and the value they bring to the market. We are confident that in working together, we can continue to develop highly innovative network security solutions and further disrupt this industry.”

— Perimeter 81 co-founder and CPO Sagi Gidali

“Over the last few months, companies globally have been forced to initiate a distributed workforce model with the need for employees to securely connect to their company’s network and online resources. Perimeter 81 has successfully solved this challenge by bringing the security requirements of Fortune 500 companies into an accessible cloud-based platform suited for the remote workforce. We are thrilled to continue our commitment to the Israeli cyber ecosystem and partner with Amit, Sagi, and the rest of the team on the next phase of their ScaleUp journey.”

— Thomas Krane, Principal at Insight Partners — who will be joining the Perimeter 81 board