Perimeter 81 secures unicorn status with $100M fundraising
Perimeter 81 said its investors now valued the Israeli cybersecurity company at $1 billion, providing it unicorn status after the firm secured $100 million to fund product development. B Capital led the funding round and it marked a jump in valuation from its last raise in August 2020, when the firm was valued at $200M. Insight Partners, an existing investor, and ION Crossover Ventures participated in the round. Perimeter 81 offers secure network solutions for hybrid workforces on its cloud-based platform, including Firewall as a Service, Zero Trust Network Access, and VPN as a Service. The four-year-old firm is not yet profitable. However, Perimeter 81 said it had more than doubled its annual recurring revenue year-over-year and was on track to make tens of millions of dollars in revenue this year. Amit Bareket, the co-founder and CEO of Perimeter 81, said the new investment would be used in product development to help achieve the firm’s goal to build a pl...