Cato recognized as a top growth-stage company in cybersecurity market
TEL AVIV, Israel, Oct. 30, 2024 /PRNewswire/ -- Cato Networks, the SASE leader, today announced it was named to the 2025 Fortune Cyber 60 list for a second consecutive year. According to Fortune, it is a listing of the most important venture-backed startups that offer enterprise-grade cybersecurity solutions, published in partnership with Lightspeed Venture Partners.
"We are the SASE leader, and the industry is taking notice. For Cato Networks, Fortune's repeated recognition of our hyper growth is a testament to the trust more than 2,500 customers place in us every day," said Shlomo Kramer, co-founder and CEO at Cato Networks. "In fact, many of our customers hail from the Fortune Global 2000. They have adopted the Cato SASE Cloud Platform and experienced the benefits of operational simplicity and business agility."
To construct the Fortune Cyber 60 list, Lightspeed Venture Partners surveyed over 300 cybersecurity startups based on revenue and current and prior year growth rates. The list is segmented into alphabetized groups of 20 by three distinct phases: early-stage companies; mid, or early-growth stage companies; and late, or growth-stage companies. Cato was listed as a top growth-stage company.
In July, Cato announced it surpassed $200 million in annual recurring revenue (ARR) in the second quarter of 2024-doubling its total ARR in under two years. Additionally, Cato surpassed 2,500 customers, with more than 1,000 new customers in the past two years.
Cato also announced in July it was named a Leader in the 2024 Gartner® Magic Quadrant for Single-Vendor SASE. In addition, Cato reported in February its revenue grew 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.
The Fortune Cyber 60 list is published online at www.fortune.com/ranking/cyber/ and www.lsvp.com/cyber60/.
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About Cato Networks
Cato Networks delivers enterprise security and networking in a single cloud platform. The SASE leader creates a seamless and elegant customer experience that effortlessly enables threat prevention, data protection, and timely incident detection and response. 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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