How Much Did Perimeter 81 Raise? Funding & Key Investors

Perimeter 81 has successfully raised significant funding through multiple rounds, culminating in a Series C round. The company was recently acquired by Check Point Software Technologies for $490 million.

With a robust portfolio of network security solutions, Perimeter 81 continues to attract substantial investment from notable backers like Entrée Capital and Insight Partners. Keep reading to explore the intricacies of Perimeter 81's fundraising journey and the investors backing this innovative platform.

What Is Perimeter 81?

Perimeter 81, founded in 2018, is headquartered in Tel Aviv, Israel. The company was established by Amit Bareket, Aviv Refuah, and Sagi Gidali. Specializing in Network-as-a-Service solutions, Perimeter 81 focuses on securing networks for modern and distributed workforces.

Operating within the cloud security, cybersecurity, network security, and SaaS industries, Perimeter 81 has grown to employ between 101 and 250 people. The company offers a unified cloud platform that includes solutions like Zero Trust Network Access, Secure Web Gateway, and Firewall as a Service.

How Much Funding Has Perimeter 81 Raised?

1. Series C
   • Amount Raised: $100M
   • Date: June 2022
   • Lead Investors: B Capital
   • Valuation at Round: $1 billion
   • Motivation Behind the Round: To accelerate the development and distribution of Perimeter 81's SSE offering and support rapid growth.
2. Series B
   • Amount Raised: $40M
   • Date: August 2020
   • Lead Investors: Insight Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the company's capabilities and enhance its product offerings.
3. Series A
   • Amount Raised: $5.5M
   • Date: June 2020
   • Lead Investors: Toba Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and meet the growing demand for secure network solutions.
4. Series A
   • Amount Raised: $4.5M
   • Date: March 2020
   • Lead Investors: Toba Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance product development and expand market reach.
5. Series A
   • Amount Raised: $10M
   • Date: November 2019
   • Lead Investors: SonicWALL
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support the company's growth and development efforts.
6. Seed Round
   • Amount Raised: $5M
   • Date: March 2019
   • Lead Investors: Spring Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the company's operations and initial product development.

Perimeter 81 has raised a total of $165M in funding. The current valuation is $1 billion.

Key Investors

• B Capital
  • Details: B Capital is a multi-stage global investment firm with over $3.5 billion in assets under management. Founded in 2015, it has a strategic partnership with BCG.
  • Investment Focus Areas: Enterprise, financial technology, healthcare.
  • Notable Investments: Not specified.
• Insight Partners
  • Details: Insight Partners is a global private equity and venture capital firm. It focuses on growth-stage technology and software companies.
  • Investment Focus Areas: Technology, software.
  • Notable Investments: Shopify, Twitter, Wix.
• Toba Capital
  • Details: Toba Capital is a venture capital firm that invests in enterprise software companies. It emphasizes long-term partnerships with entrepreneurs.
  • Investment Focus Areas: Enterprise software.
  • Notable Investments: Not specified.
• Entrée Capital
  • Details: Entrée Capital provides multi-stage funding to early and growth-stage companies. It has invested in various sectors including technology, consumer, and fintech.
  • Investment Focus Areas: Technology, fintech, consumer products.
  • Notable Investments: Monday.com, Riskified, Stash.
• Spring Ventures
  • Details: Spring Ventures is a publicly-traded investment firm. It focuses on technology and innovation-driven companies.
  • Investment Focus Areas: Technology, innovation-driven companies.
  • Notable Investments: Not specified.

What's Next for Perimeter 81?

Perimeter 81 stands at the cusp of significant growth opportunities. With a $100 million Series C funding round and a valuation of $1 billion, the company is poised to accelerate the development and distribution of its Security Service Edge (SSE) offerings. The increasing demand for cybersecurity solutions, driven by the rise in ransomware and external attacks, presents a vast market for Perimeter 81 to expand its customer base, which already includes close to 2,400 clients.

Future fundraising opportunities seem promising as the company continues to double its annual recurring revenue year over year. This rapid growth and market traction suggest potential for additional funding rounds to further scale operations and enhance product offerings. However, Perimeter 81 will need to navigate the increasingly dangerous threat landscape and manage its rapid growth effectively to maintain its competitive edge.

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