Perimeter 81, a cloud and network security company that develops secure remote networks based on the zero-trust architecture for organizations, completed a $4.5 million Series A extension round, bringing the company’s total funding to $19.5 million.
Toba Capital, a US-based early-stage investment firm focused on high-growth technology companies, led the funding round. Existing investors also participated. According to the company, the latest funds will help support its rapid growth and accelerate the development and go-to-market strategy of its cloud-agnostic Zero Trust Secure Network as a Service.
Perimeter 81 simplifies network security for the modern and increasingly remote and mobile workforce. The company serves more than 620 clients across multiple sectors, including government, entertainment, technology, and AI. Over the next few months, the company will add user and branch internet security, branch interconnectivity, and endpoint security to its offering.
In February 2020, the company unveiled a new Secure Access Service Edge (SASE) platform that combines its Network as a Service offering with advanced cloud security capabilities licensed from SonicWall.
“As corporations of all sizes increasingly work in remote environments and rely upon the cloud to run their businesses, they need new ways of consuming security to effectively prevent cyber-attacks regardless of their location or network environment. The investment from Toba Capital will enable Perimeter 81 to grow even faster, add additional security features and fulfill our vision to fully bring network security into the cloud,” said Perimeter 81 CEO and Co-Founder Amit Bareket.
“Rapid, global adoption of the cloud and widespread employee mobility are driving a radical transformation of security infrastructure including the replacement of traditional firewalls and unification of network and security services under a single SaaS and cloud-based platform,” said Vinny Smith, Managing Partner, Toba Capital.
“Perimeter 81 is at the forefront of this shift to deliver an innovative and consolidated network security platform that simply and securely connects employees to their company’s resources and to the Internet. In the past year, they’ve met and exceeded several strategic milestones, and Toba Capital looks forward to supporting their continued growth and market adoption here in the U.S.”