Israeli cybersecurity firm Perimeter 81 raises $100 million, becomes a unicorn

Israeli cybersecurity firm Perimeter 81 raises $100 million, becomes a unicorn
Photo by FLY:D / Unsplash

Perimeter 81, an Israel-based cybersecurity firm has raised $100 million in its new funding round and is now valued at above $1 billion, as a unicorn.

  • The funds will be used to develop its products toward achieving its plans to build a platform that offers one-stop solutions for corporate network security.
  • Perimeter 81 provides secure network solutions for the hybrid workforce through its cloud-based platform: Zero Trust Network Access, Firewall as a Service (FaaS), and VPN as a Service (VaaS).
  • The firm last raised funds in August 2020 at a $200 million valuation and has now doubled its year-on-year annual recurring revenue.
  • B Capital led the new funding round with participation from ION Crossover Ventures and Insight Partners.