SASE category creator expands to more than 2,500
enterprise customers
TEL
AVIV, Israel, July 29,
2024 /PRNewswire/ -- Cato Networks, the creator of
SASE, today announced it surpassed $200
million in annual recurring revenue (ARR) in the second
quarter of 2024—doubling its total ARR in under two years. The news
comes weeks after Cato was named a Leader in the 2024 Gartner®
Magic Quadrant™ for Single-Vendor SASE.
"IT security is broken, and enterprises are turning to Cato to
fix it," said Shlomo Kramer,
co-founder and CEO at Cato Networks. "A proliferation of point
solutions and appliances has created a fragmented IT security
market. Enterprises are faced with unmanageable complexity and a
drain on precious resources, including people, dollars, and time.
Cato is leading the IT security industry into a new era, where a
single, cloud-native platform converging networking and IT security
provides power and simplicity unmatched by the legacy patchwork of
tools and vendors."
The IT security industry is rapidly moving from security
appliances and cloud proxies to converged SASE platforms.
Many legacy vendors are attempting to evolve their portfolio
of capabilities into a converged SASE platform – what's been called
platformization.
"Converting a portfolio company into a platform company is about
as easy as unscrambling an omelet," said Kramer. "Security is a
data problem. A platform makes high-quality, contextualized data
available in real-time for protection and stores that data in a
single data lake for detection. You cannot get that kind of
high-quality data from a portfolio company, no matter how pretty
the management interface."
Today, Cato also announced more than 2,500 enterprise customers
embrace the Cato SASE Cloud Platform, with over 1,000 new
customers in the past two years. Examples of global
enterprises and leading brands that have chosen Cato, or expanded
with the Cato SASE Cloud Platform, include:
- O-I Glass: The $7 billion
leading glass bottle manufacturer, designing innovative glass
packaging for the world's leading brands, has adopted the Cato SASE
Cloud Platform to digitally transform the way glass bottles are
designed and manufactured. With one platform, O-I was able to
connect and secure 23,000 employees in approximately 150 factories
and office locations across 20 countries worldwide.
- Ryohin Keikaku: The Japanese business leader, behind the
world-famous MUJI retail brand, recently selected Cato to connect
and secure its 820+ retail and corporate offices and 3,200+
employees worldwide.
- Sixt: The world-renowned car rental company connects and
protects its locations and rental branches worldwide, as well as
mobile users, with the Cato SASE Cloud Platform.
- Vitesco Technologies: The $10
billion German automotive supplier and manufacturer, and a
Cato customer since 2020, has 35,500 employees worldwide. The
company recently expanded the Cato SASE Cloud Platform nearly 25%
to over 90 connected locations and services and 24,000 remote
users.
"As we enter the third generation of IT security, Cato is being
embraced faster than the appliances and proxies that defined the
previous generation," said Alon
Alter, chief business officer at Cato Networks. "We earned
the trust of more than 1,000 new businesses in the past two years,
growing our customer base to over 2,500 and our ARR to more than
$200 million. Our growth attests
to the demand for a true, autonomous cloud-native platform—one that
maintains an optimal security posture and a superb application
experience worldwide, freeing IT teams to better support the
business."
Recent Cato Networks Highlights
- In July, Cato was named a Leader in the 2024 Gartner® Magic
Quadrant™ for Single-Vendor SASE.
- In June, Cato introduced the Cato MSASE Partner Platform, which
gives vendor-level powers to channel partners to sell and deliver
the best managed SASE service available today.
- In May, Cato unveiled Cato CTRL (the company's threat
intelligence team) alongside the inaugural Cato CTRL SASE Threat
Report for Q1 2024.
- In March, Cato was named a leader in the 2024 GigaOm Radar for
Enterprise Firewalls. Also in March, Cato shattered the SASE
throughput record by achieving 10 Gbps without hardware upgrades
and further expanded its XDR capabilities for the Cato SASE Cloud
Platform with Network Stories for Cato XDR.
- In February, Cato reported GAAP* revenue growth of 59% in 2023
compared to 2022, more than twice the 29% five-year compound annual
growth rate (CAGR) forecast from Gartner for the SASE market.
- In January, Cato expanded the Cato SASE Cloud Platform into
extended detection and response with Cato XDR, the world's first
SASE-based XDR, and endpoint protection with Cato EPP.
Resources
- [Photo] Shlomo
Kramer
- [Photo] Alon Alter
- [Image] Cato Networks logo
- [Blog] Cato Networks Surpasses $200M ARR and 2,500 Customers: Here's Why
*Generally Accepted Accounting Principles or GAAP
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About Cato Networks
Cato Networks delivers enterprise security and networking in a
single cloud platform. With Cato, organizations replace costly and
rigid legacy infrastructure with an open and modular SASE
architecture based on SD-WAN, a purpose-built global cloud network,
and an embedded cloud-native security stack.
Want to learn why thousands of organizations secure their future
with Cato? Visit us at www.catonetworks.com.
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SOURCE Cato Networks LTD.