Cato Networks Revenue, Valuation, Funding & Investors
Cato Networks is valued at $4.8B as of June 2025, a 16.0x multiple on its last reported $300M revenue.
Last Cato Networks valuation
$4.8B
Series G · Jun 2025
Last Cato Networks funding round
$409M
Series G · Jun 2025
Cato Networks revenue
$300M
Series G · Jun 2025
Key investors in Cato Networks
Lightspeed Venture Partners
Singtel Innov8
Aspect Ventures
Greylock
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Shlomo KramerU.S. Venture Partners
About Cato Networks
Cato Networks is a Tel Aviv-headquartered provider of a cloud-native SASE platform combining SD-WAN, global private backbone, and security services like firewall-as-a-service, secure web gateway, zero-trust access, and XDR. It connects branches, data centers, remote users, and clouds via multiple on-ramps for enterprises worldwide.
Founded
2015
HQ
Tel AvivWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$300M (Jun 2025)
Valuation
$4.8B (Jun 2025)
Cato Networks Valuation
Cato Networks is currently valued at $4.8B, based on its Series G in June 2025.
The $409M round was led by ION Crossover Partners and Vitruvian Partners, with participation from Acrew Capital, Adams Street Partners and Lightspeed Venture Partners.
Cato Networks' valuation has grown 4.8x from $1B at its Series D in April 2020 to $4.8B in June 2025, across 5 priced rounds.
Cato Networks valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2025 | Series G | $4.8B | 16.0x |
| Sep 2023 | Undisclosed stage | $3B | 30.0x |
| Oct 2021 | Series F | $2.5B | 7.1x |
| Nov 2020 | Series E | $870M | - |
| Apr 2020 | Series D | $1B | - |
Cato Networks Revenue
Cato Networks' latest recorded revenue is $300M, as of its Series G in June 2025. At a $4.8B valuation, that implies a 16.0x revenue multiple.
Revenue moved from $350M in October 2021 to $300M in June 2025, while the revenue multiple moved from 7.1x to 16.0x.
Cato Networks revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jun 2025 | $300M | $4.8B | 16.0x | Series G |
| Sep 2023 | $100M | $3B | 30.0x | Undisclosed stage |
| Oct 2021 | $350M | $2.5B | 7.1x | Series F |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Cato Networks Funding History
Cato Networks has raised a total of $1.2B across 8 funding rounds.
Cato Networks' first fundraising round was a $20M Series A in October 2015. The most recent completed round was a $409M Series G in June 2025.
Cato Networks funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2025 | Series G | ION Crossover Partners (lead); Vitruvian Partners (lead); Acrew Capital; Adams Street Partners; Lightspeed Venture Partners | $409M | $4.8B | Cato Networks is a SASE (Secure Access Service Edge) leader providing a cloud-native platform that converges enterprise networking and security, including SD-WAN, global private backbone, and advanced threat prevention for connecting users, sites, and resources to applications securely from anywhere. Founded in 2015 by Shlomo Kramer (co-founder of Check Point and Imperva) and Gur Shatz, the company employs about 1,400 people, half in Israel, and has raised over $1.1 billion total funding to date. Cato Networks announced its first acquisition of AI security startup Aim Security in September 2025 to integrate advanced AI protection into its SASE Cloud Platform, enabling secure enterprise adoption of AI agents and applications amid the AI transformation. In June 2025, Cato Networks raised $359 million in its Series G round led by ION Crossover Partners and Vitruvian Partners, at a $4.8 billion valuation, followed by an additional $50 million extension from Acrew Capital (with participation from Adams Street Partners and Lightspeed Venture Partners implied in the round), bringing the total to $409 million on the same terms and valuation. The funding supports expansion, including covering the Aim Security acquisition estimated at $300-350 million. No specific use of funds beyond M&A and general growth was detailed. As of September 2025 announcements, Cato surpassed $300 million in annual recurring revenue (ARR), up 20% from $250 million at end-2024, reflecting strong traction in the SASE market where it was named a leader in Gartner's 2025 Magic Quadrant. The company aims for a Nasdaq IPO but requires sustained revenue growth above $300 million and profitability. Aim Security, founded in 2022 by Unit 8200 veterans, had raised $28 million from YL Ventures and Canaan before the exit. Cato positions itself as the primary control point for AI interactions via SASE, replacing legacy infrastructure with a modular, open architecture. The acquisition adds capabilities to detect threats, anomalous access, and data breaches in AI environments, aligning with rapid enterprise AI adoption. |
| Sep 2023 | Undisclosed stage | Lightspeed Venture Partners (lead); Adams Street Partners; Sixty Degree Capital; SoftBank Group; Singtel Innov8 | $238M | $3B | Cato Networks, headquartered in Tel Aviv, Israel and founded in 2015 by Gur Shatz and Shlomo Kramer, is a cybersecurity and software-defined networking company providing a single-vendor Secure Access Service Edge (SASE) platform. The platform enables organizations to securely connect to network resources from anywhere in the world, combining networking, managed cybersecurity, and global backbone services into one integrated offering. On September 19, 2023, Cato Networks announced the completion of a $238 million Series D+ equity financing round, bringing total capital raised to $773 million. The round was led by LightSpeed Venture Partners with participation from Adams Street Partners, SoftBank Vision Fund 2, Sixty Degree Capital, and Singtel Innov8, valuing the company at over $3 billion. This represented an uptick from the company's previous valuation of $2.5 billion following a $200 million round in October 2021. Following the round, Ravi Mhatre, founder and managing director of LightSpeed Venture Partners, joined Cato's board of directors. By the time of the funding round, Cato had achieved significant traction with over 1,800 enterprise customers including Carlsberg and the TAG Heuer Porsche Formula E team using the platform's security and networking infrastructure. The company reported Annual Recurring Revenue (ARR) exceeding $100 million in 2022, with year-over-year revenue growth of 60 percent. Cato planned to use the new funds to expand customer success delivery, grow its partner ecosystem offering managed SASE services, and increase its engineering and product team from approximately 800 employees to over 900 by year-end 2023. The funding round came shortly after Cato earned recognition as a ZTE/SASE Leader by Forrester Research and a Challenger in Gartner's Magic Quadrant for Single-vendor SASE, with CEO Shlomo Kramer previously indicating the company's intent to pursue an initial public offering within approximately one year of the funding announcement. |
| Oct 2021 | Series F | Lightspeed Venture Partners (lead); Swisscom Ventures (lead); Acrew Capital; Shlomo Kramer; Singtel Innov8; Aspect Ventures; Greylock; Coatue | $200M | $2.5B | Cato Networks, founded in 2015 by Shlomo Kramer (CEO, co-founder of Check Point and Imperva) and Gur Shatz (President and COO, co-founder of Incapsula), provides the world's first SASE platform, converging networking and security services including SD-WAN, NGFW, SWG, CASB, and ZTNA into a global cloud-native service spanning over 65 PoPs in more than 190 countries. The company targets enterprises for WAN transformation, secure remote access, work-from-home, and multicloud connectivity, emphasizing radical simplicity and operating efficiency for CSP partners. In October 2021, Cato Networks raised $200 million in a Series F round, achieving a post-money valuation of $2.5 billion, as announced in December 2021 alongside a strategic follow-on investment from Swisscom Ventures (tens of millions). Lightspeed Venture Partners co-led the round with Swisscom Ventures, with participation from Acrew Capital, Aspect Ventures, Coatue, Greylock, Lightspeed Venture Partners, Shlomo Kramer, Singtel Innov8, and others. This brought total funding to approximately $532 million prior to the Swisscom addition, supporting plans to recruit hundreds of employees in Israel, growing headcount to 500 in 2021. By late 2021, Cato had nearly 100% year-over-year revenue growth, over 1,100 organizations deployed managing 300,000 remote users, 92% increase in deal registrations, and 41% rise in channel partners. The round underscored surging CSP interest in SASE amid market convergence. Later traction showed 2.2K+ enterprise customers by 2023 and $250M+ ARR by 2024. |
| Nov 2020 | Series E | Lightspeed Venture Partners (lead); Acrew Capital; Shlomo Kramer; Singtel Innov8; Aspect Ventures; Greylock; Coatue | $130M | $870M | Cato Networks, co-founded by Shlomo Kramer and Gur Shatz in 2015, provides a cloud-native SASE platform that unifies enterprise networking and security, including SD-WAN, SSE, ZTNA, XDR, and LAN security, replacing legacy firewalls, routers, and proxies with a single service for secure connectivity. In November 2020, the company raised $130 million in its Series E funding round led by Lightspeed Venture Partners, with participation from Acrew Capital, Aspect Ventures, Coatue, Greylock, Shlomo Kramer, and Singtel Innov8, achieving a post-money valuation of $870 million and joining the unicorn club. This round marked significant growth for the Tel Aviv-based cybersecurity firm amid rising demand for cloud-first security solutions. Subsequent rounds included a Series G in June 2025 raising $359 million at over $4.8 billion valuation from Vitruvian Partners, ION Crossover Partners, Lightspeed, Acrew, and others, bringing total funding over $1 billion to fuel AI-driven security, platform innovation, and global expansion. |
| Apr 2020 | Series D | Lightspeed Venture Partners (lead); Shlomo Kramer; Singtel Innov8; Aspect Ventures; U.S. Venture Partners; Greylock | $77M | $1B | Cato Networks, founded in 2015 by Shlomo Kramer (co-founder of Check Point and Imperva) and Gur Shatz, provides the world's first cloud-native SASE platform that converges networking and security to connect and secure enterprise edges including sites, mobile users, and cloud resources. The platform is distributed across more than 60 PoPs worldwide, positioning Cato as a leader in the emerging SASE market. In November 2020, Cato announced its largest funding round to date of $130 million led by Lightspeed Venture Partners, with participation from new investor Coatue and existing investors Greylock, Aspect Ventures/Acrew Capital, Singtel Innov8, and Shlomo Kramer. This Series D round valued Cato at over $1 billion pre-money, marking its unicorn status and strengthening its financial position to accelerate SASE market and technology expansion. The 2020 funding highlighted Cato's leadership in SASE, described as the hottest area in IT at the time, with the Cato Cloud built from the ground up as a global converged service. The round further solidified investor confidence from backers like Lightspeed, Greylock, Aspect Ventures, USVP (implied in context), Singtel Innov8, and Kramer himself. Post-2020, Cato continued rapid growth, becoming a repeated Gartner Magic Quadrant leader and achieving massive ARR milestones: over $100M by end-2022, $250M by end-2024, $300M+ in 2025, and $350M ARR in 2025 with 43% YoY growth outpacing the SASE market's projected 26% CAGR. Later rounds included $409M Series G in 2025 at $4.8B+ valuation (total funding over $1B), alongside its first acquisition of Aim Security for AI security expansion. Cato serves over 4,000 organizations including Fortune 500 firms, with 1,400 employees primarily in Tel Aviv. |
| Jan 2019 | Series C | Lightspeed Venture Partners (lead); Shlomo Kramer; Singtel Innov8; Aspect Ventures; Gur Shatz; U.S. Venture Partners; Greylock | $55M | - | - |
| Sep 2016 | Series B | Greylock (lead); Shlomo Kramer; Singtel Innov8; Aspect Ventures; Gur Shatz; U.S. Venture Partners | $50M | - | Cato Networks, founded in 2015 by Shlomo Kramer and Gur Shatz, is a Tel Aviv-based provider of a cloud-native SASE platform combining networking and security functions like SD-WAN and managed security into a single service. The company raised $20 million in Series A funding in June 2015 and reportedly secured a $30 million Series B round in September 2016 led by Greylock Partners. Subsequent funding rounds show Cato's growth trajectory, including a $130 million Series E in November 2020 at over $1 billion valuation led by Lightspeed with Greylock, Aspect Ventures/Acrew Capital, Singtel Innov8, and Shlomo Kramer participating, bringing total funding to $332 million and serving over 650 enterprise customers across 7,000 locations. In October 2021, Cato raised $200 million at a $2.5 billion valuation, again led by Lightspeed, doubling from the prior round and reaching $532 million total raised, with expansion in sales, technology, and over 1,000 customers. By September 2023, a $238 million round at over $3 billion valuation pushed total funding to $773 million, led by Lightspeed with Adams Street, SoftBank Vision Fund 2, Sixty Degree Capital, and Singtel Innov8. Cato has been recognized as a leader in SASE by analysts like Forrester and Gartner, adding major customers like Carlsberg, and focusing on global expansion, AI/ML capabilities, and zero-touch deployment without increasing customer costs. |
| Oct 2015 | Series A | Aspect Ventures (lead); U.S. Venture Partners (lead) | $20M | - | Cato Networks is a cybersecurity company founded in December 2014 by Shlomo Kramer and Gur Shatz that builds cloud-based network security and wide-area network solutions. Kramer is a veteran entrepreneur who co-founded Check Point Software and later founded and led Imperva before selling it to Thoma Bravo for $2.1 billion. Shatz previously co-founded and led Incapsula, a cloud security company. Together they are creating Network Security as a Service (NSaaS) and Secure Access Service Edge (SASE) platforms designed to replace traditional on-premises security infrastructure with cloud-based solutions. In October 2015, Cato Networks raised $20 million in Series A funding led by Steve Krausz at U.S. Venture Partners (USVP) and Theresia Gouw at Aspect Ventures, both of whom joined the company's board. The capital was intended to support go-to-market strategy and talent acquisition. At the time of the Series A round, the company had not yet officially launched (scheduled for February 2016) and had bootstrapped operations until the funding round. Over the subsequent decade, Cato Networks grew significantly, reaching $350 million in annual revenue run rate by 2025 with 43% year-over-year growth, serving over 4,000 organizations worldwide. The company raised approximately $1 billion total across multiple funding rounds, with major investors including Lightspeed Venture Partners, ION Crossover Partners, Vitruvian Partners, and Adams Street Partners. In summer 2025, Cato raised $409 million at approximately $5 billion valuation, though IPO plans announced in 2024 were subsequently postponed due to market conditions and concerns about AI-driven disruption in the cybersecurity sector. |
Who has invested in Cato Networks?
15 investors have backed Cato Networks across its funding rounds, including Lightspeed Venture Partners, Singtel Innov8, Aspect Ventures, Greylock, Shlomo Kramer and U.S. Venture Partners.
Lead investors include ION Crossover Partners, Vitruvian Partners, Lightspeed Venture Partners, Swisscom Ventures, Greylock and 2 other investors.
Cato Networks Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Singapore | 6 | Participant | Sep 2016 | |
 San Francisco, CA | 6 | Lead | Oct 2015 | |
| San Francisco, CA | 6 | Lead | Jan 2019 | |
| Shlomo Kramer | Tel Aviv | 5 | Participant | Sep 2016 |
| San Francisco, CA | 5 | Lead | Sep 2016 | |
| San Francisco, CA | 4 | Lead | Oct 2015 | |
| San Francisco, CA | 3 | Participant | Nov 2020 | |
| Chicago, IL | 2 | Participant | Sep 2023 | |
| Gur Shatz | Tel Aviv | 2 | Participant | Sep 2016 |
| New York City, NY | 2 | Participant | Nov 2020 | |
| Herzliya | 1 | Lead | Jun 2025 | |
 Toronto | 1 | Participant | Sep 2023 | |
 Tokyo | 1 | Participant | Sep 2023 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Cato Networks
Cato Networks has acquired 1 company to date.
Last acquisition by Cato Networks was on September 3rd 2025. Cato Networks acquired Aim Security for $350M.
Latest Acquisitions by Cato Networks
| Description | Aim Security is a Tel Aviv-headquartered platform securing generative AI deployments for enterprises. It scans AI models, prompts, and outputs to prevent data leaks, toxic content, and supply chain attacks, integrating with tools like ChatGPT and Vertex AI. Backed by $27 million in funding, the company protects Fortune 500 firms in finance and healthcare, blocking over 90 percent of AI-specific threats in real-time. Founded in 2022, Aim Security expanded to North America in 2023. |
| HQ Country | |
| HQ City | Tel Aviv |
| Deal Date | 3 Sep 2025 |
| Valuation | $350M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Cato Networks acquisitions and their M&A valuation multiples. Start Free Trial | |
Cato Networks Competitors
Cato Networks competitors include listed companies like Megaport, NetScout Systems and A10 Networks, and private ones like Island, Sysdig and Aviatrix.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Dallas, TX | Private | - | - | $4.8B | - | |
 Australia | Publicly listed | $222M | $15M | $3B | 9.9x | |
| United States | Publicly listed | $859M | $163M | $2.9B | 2.6x | |
| San Francisco, CA | Private | - | - | $2.5B | - | |
| San Jose, CA | Private | $40M | - | $2B | 50.0x | |
| United States | Publicly listed | $291M | $62M | $2B | 5.7x |
Cato Networks Public Comps
Cato Networks is still privately-owned, but its public comps include Box, BlackBerry, IONOS Group, Trend Micro, United Internet, Clear Secure, Varonis Systems, Wangsu, Glory View Technology and Tenable.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.2B | $124M | 4.5x | 4.3x | 43.0x | 13.8x | |||
| $549M | $83M | 8.3x | 7.8x | 54.9x | 36.6x | |||
| $1.5B | $522M | 4.1x | 3.9x | 11.8x | 10.5x | |||
| $1.8B | $488M | 2.2x | 2.1x | 8.0x | 8.1x | |||
| $7B | $1.5B | 1.4x | 1.4x | 6.8x | 6.4x | |||
| $901M | $216M | 3.7x | 3.2x | 15.3x | 9.5x | |||
| $624M | ($147M) | 8.5x | 7.5x | (36.0x) | 229.5x | |||
| $695M | $138M | 6.4x | 6.0x | 32.6x | 30.5x | |||
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Common questions about Cato Networks
| When was Cato Networks founded? | Cato Networks was founded in 2015. |
| Where is Cato Networks headquartered? | Cato Networks is headquartered in Tel Aviv, Israel. |
| Is Cato Networks publicly listed? | No, Cato Networks is a private, VC-backed company. |
| What is Cato Networks' valuation? | Cato Networks was last valued at $4.8B in its Series G in June 2025. |
| How much funding has Cato Networks raised? | Cato Networks has raised $1.2B across 8 funding rounds. |
| What was Cato Networks' last funding round? | Cato Networks' last funding round was a $409M Series G in June 2025, led by ION Crossover Partners and Vitruvian Partners. |
| Who are Cato Networks' investors? | Cato Networks' investors include Singtel Innov8, Aspect Ventures, Lightspeed Venture Partners, Shlomo Kramer, Greylock, U.S. Venture Partners, Acrew Capital, Adams Street Partners, Gur Shatz, Coatue and 5 others. |
| What is Cato Networks' revenue? | Cato Networks' latest recorded revenue is $300M (June 2025). |
| What is Cato Networks' revenue multiple? | Cato Networks' latest valuation implies a 16.0x revenue multiple ($4.8B valuation on $300M of revenue). |
| Which companies are comparable to Cato Networks? | Companies comparable to Cato Networks include Island, Megaport, NetScout Systems, Sysdig, Aviatrix and A10 Networks. |
| How many companies has Cato Networks acquired? | Cato Networks has acquired 1 company, including Aim Security. |
| What was the largest acquisition by Cato Networks? | The $350M acquisition of Aim Security in September 2025 is the largest acquisition Cato Networks has made to date. |
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