Perimeter 81 becomes latest CyberTech unicorn

Israel-based Perimeter 81 has collected $100m in its Series C funding round, which was led by B Capital.

The round was also supported by Insight Partners, Toba Capital, ION Crossover Ventures, Entrée Capital and publicly traded Spring Ventures led by Aviv Refuah.

This funding round brings Perimeter 81’s valuation to $1bn.

Following the close of the round, Perimeter 81 plans to bolster its growth efforts and hire more staff.

Perimeter 81 is a network-as-a-service platform that empowers companies to secure their corporate network. It boasts instant deployment, unified management and a 360-degree visibility.

Its platform can be used for network security, zero trust network access, firewall-as-a-service, secure web gateway, VPN alternative identity management, device posture check and much more. Companies can ensure they are compliant with regulations, including Compliance Overview, ISO 27001 Compliance, HIPAA Compliance, Soc 2 Type 2 Compliance and GDPR.

In a blog post announcing the funding round, Perimeter 81 said, “It feels like just yesterday we were working out of a basement, in the centre of Tel Aviv, with a dream of building a company to make network security more user-friendly, more accessible, and ultimately more secure.”

The CyberTech company was founded in 2018 and now has 2,400 customers and 250 employees.

Perimeter 81 previously raised $40m in its Series B funding round in late 2020. The capital injection was supplied by Insight Partners.

Last week, email security company Abnormal Security reached a $4bn valuation after it closed a $210m Series C funding round. The investment was led by Insight Partners.

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