SASE creator ranks among top 100 private cloud companies
TEL AVIV, Israel, Aug. 6, 2024 /PRNewswire/ — Cato Networks, the creator of SASE, today announced that it has made its debut in the 2024 Forbes Cloud 100 list. According to Forbes, it is the definitive ranking of the top 100 private cloud companies in the world, published in partnership with Bessemer Venture Partners and Salesforce Ventures.
This ranking follows several significant milestones for Cato. 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.
Rapid adoption of the Cato SASE Cloud Platform is behind Cato’s accelerating business momentum. Cato is transforming an IT security market—plagued by too many tools and too few people to manage those tools—with its platform approach. Cato converges security and networking in a single, cloud-native platform with a single console that’s easy to deploy, use and manage. This strategy is winning in the IT security market.
“This recognition in the Cloud 100 underscores Cato’s rapid ascent not only in the IT security market, but the IT market as a whole,” said Shlomo Kramer, co-founder and CEO at Cato Networks. “Cato transforms the way IT thinks about the business, and the way the business thinks about IT. Cato replaces point products with a single, cloud-native platform that takes away the grunt work and brings operational simplicity and business agility to IT.”
The 2024 Forbes Cloud 100 is published online at www.forbes.com/cloud100. Highlights of the list appear in the August/September 2024 issue of Forbes magazine.
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• [Photo] Shlomo Kramer
• [Image] Cato Networks logo
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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.
SOURCE Cato Networks
