Perimeter 81 Completes a $5M Funding Round to Help Businesses Achieve Network, Cloud and Application Security
TEL AVIV, Israel, March 25, 2019 /PRNewswire/ -- Perimeter 81, a Zero-Trust Software Defined Perimeter company, founded by Amit Bareket, CEO, and Sagi Gidali, CPO, announced today that it has completed a $5M funding round.
The round was led by Spring Ventures and private US-based investors, with additional funds from existing shareholders. The company will use the funds to accelerate growth, primarily investing in expanding the sales, marketing and R&D teams in its Tel Aviv and New York offices, and developing new cloud firewall capabilities.
"The rise of Cloud and Mobility has disrupted network, cloud and application security as we know it. With employees working on the go and from different locations around the world, and companies increasingly moving towards the cloud, the traditional hardware-based legacy appliances of the past are no longer suitable for today's modern and distributed workforce," said CEO and Co-Founder Amit Bareket. "Perimeter 81's user-centric Secure Network as a Service, which utilizes the Zero-Trust and Software-Defined Perimeter models, enables businesses to more easily secure access to local network resources, cloud environments, and business applications, with a seamless and highly intuitive SaaS solution."
Since the launch of the product, Perimeter 81 has gained immediate traction in the market, growing at a rapid, double-digit rate month over month and quickly acquiring hundreds of clients — including Fortune 500 companies and some of the leading industry names in government, entertainment, technology, and AI. Additionally, Perimeter 81 has been named an Ingram Micro Mass Challenge Comet Finalist, an InfoSecurity Product Guides Global Excellence "Cybersecurity Startup of the Year" and "Cybersecurity Vendor Achievement of the Year" winner, and a Cybersecurity Breakthrough Awards winner.
"We are big believers in the Zero-Trust and Software-Defined Perimeter cloud-based approach and have followed Perimeter 81 for a long time," said Aviv Refuah, founder of Spring Ventures. "With its unique and forward-thinking cybersecurity SaaS approach, great team and impressive growth rate, Perimeter 81 will now be able to grow even faster, add additional security features and fulfill its vision to fully bring network security into the cloud."
Perimeter 81 was recognized as a Sample Vendor under the Software-Defined Perimeter category in three Gartner Hype Cycle reports.1
Perimeter 81 is unique in the market in that its holistic, cloud-agnostic solution offers both customizable networking capabilities and advanced security features, and also ensures secure access at the network and application level. The software service can be rolled out quickly and provides automatic gateway deployment, easy multi-tenant management, and full network visibility.
Perimeter 81 is the second venture for Co-Founders Amit Bareket and Sagi Gidali, who have also launched successful consumer VPN service, SaferVPN. SaferVPN, a profitable business launched in early 2014, quickly became a household name, with over 3 million international app downloads and one of the highest customer satisfaction rates in the industry. The consumer software company was selected by Deloitte Israel's Technology Fast 50 - Rising Star rankings, recognized for sustained revenue growth over 2 years. Moreover, its patented Automatic Wi-Fi Security was white-labeled by leading global endpoint protection company Webroot, recently acquired by Carbonite.
With the new funding round, Perimeter 81 expects to double its team, add more security services, fulfill its vision to lead the SDP market and furthermore, disrupt the traditional firewall landscape.
"With Perimeter 81, we took our knowledge of what worked for the consumer market, and ultimately, the end-user, and transformed the complex and outdated technology that so many businesses rely upon, into a seamless and user-friendly SaaS service," said Sagi Gidali, Co-Founder and CPO. With this new funding round, we look forward to expanding our reach and further enabling companies of all industries and sizes to become fully, securely mobile and confidently cloud-based."
ABOUT PERIMETER 81
Perimeter 81 is a Secure Network as a Service that has taken the outdated, complex and hardware-based traditional network security technologies, and transformed them into a user-friendly and easy-to-use software solution — simplifying secure network access for the modern and distributed workforce. Founded by two IDF elite intelligence unit alumni, Perimeter 81 serves a wide range of businesses, from midsize to Fortune 500 companies, and has established partnerships with the world's foremost integrators, managed service providers and channel resellers.
To learn more about Perimeter 81's Zero-Trust Software-Defined Perimeter Service visit: www.perimeter81.com
ABOUT SPRING VENTURES
Spring Ventures, a publicly traded company on the Tel Aviv Stock Exchange, is led by Aviv Refuah, one of Israel's first and most experienced Tech entrepreneurs. The main activities of Spring Ventures are devoted to investments in the fields of Technology and Internet, both in private and public companies. Spring Ventures made, among other successful deals, the largest e-commerce transaction ever in Israel. Spring Ventures' investment objective is to seek long-term capital appreciation by investing in a diversified portfolio, while taking advantage of technology-based platforms, global market trends and its expertise.
1Gartner, Hype Cycle for Infrastructure Strategies, 2018, Philip Dawson, Nathan Hill, 17 July 2018; Gartner, Hype Cycle for Cloud Security, 2018, Jay Heiser, 19 July 2018; Gartner, Hype Cycle for Enterprise Networking and Communications, 2018, Danellie Young, Mike Toussaint, 13 July 2018.
SOURCE Perimeter 81
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