Perimeter 81 Reaches $1 Billion Valuation

 Perimeter 81, a security service edge (SSE) and zero trust network access (ZTNA) provider, began RSA by announcing its valuation has reached $1 billion after completing a $100 million Series C funding round led by B Capital.

Participating investors include Insight Partners, Toba Capital, ION Crossover Ventures, Entrée Capital and publicly traded Spring Ventures. The financing will accelerate Perimeter 81’s growth, hiring and development. The company has more than doubled its annual recurring revenue (ARR) year over year.

Perimeter 81’s platform enforces a zero trust architecture, which became a federal strategy in the United States this year following President Biden’s executive order on improving the nation’s cybersecurity.

Amit Bareket is Perimeter 81‘s co-founder and CEO.

“The rise of remote work, cloud adoption, fiber and 5G has created a fundamental shift in the network security landscape, leading companies to replace their on-premises network and security appliances with a secure corporate network over the internet,” he said. “B Capital and other investors embrace our vision to deliver holistic security that is purpose-built for a cloud-first, distributed workforce and share our belief that a secure corporate network over the internet transcends the traditional office environment and is the way of the future.”

Rashmi Gopinath is B Capital’s general partner.

“Perimeter 81’s highly impactful offering, undeniable performance, and fully integrated solution has enabled about 2,400 businesses to secure their networks,” he said. “We believe Perimeter 81 has a best-in-class ZTNA and SSE platform and we look forward to partnering with the team in its next phase of growth.”