Cato Networks to raise $500m in Wall Street IPO
According to "Reuters", Israeli cybersecurity company Cato Networks has hired underwriters for a Wall Street IPO.
According to sources speaking with "Reuters", Cato has hired Goldman Sachs, JPMorgan Chase, and Barclays to spearhead the groundwork for a potential IPO. The initial public offering is anticipated to occur as early as 2025, though there's a chance it could transpire sooner, particularly if stock markets experience a resurgence in 2024.
In September of last year, Tel Aviv-headquartered Cato Networks secured an impressive $238 million in funding, marking the company's valuation at $3 billion. Established in 2015 by Gur Shatz and CEO Shlomo Kramer, the latter being a co-founder of Check Point Software Technologies Ltd. (Nasdaq: CHKP) and the founder of security firm Imperva, Cato Networks has been pioneering in the realm of secure access service edge (SASE) technology. This innovative approach amalgamates enterprise communication and security functionalities into a unified cloud-based platform.
Company investors includes LightSpeed Venture Partners, Adams Street Partners, SoftBank Vision Fund 2, Sixty Degree Capital and Singtel Innov8.
