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Perimeter 81, a cybersecurity firm based in Tel Aviv, recently raised $40 million in a Series B funding round led by Insight Partners.
Founded in 2018 by university friends Amit Bareket and Sagi Gidali, Perimeter 81 claims to have transformed outdated, complex and hardware-based security programmes into “one unified, scalable and easy-to-use software solution.”
The firm is part of a burgeoning global cybersecurity industry, which analysts at Research and Markets recently valued at around $150 billion.
“With COVID-19, we witnessed an incredible surge in the demand for our services as the transition to remote work — which occurred virtually overnight — illuminated the need for companies worldwide to depart from their legacy hardware-based security, and fully embrace a holistic, cloud network,” said Bareket.
The firm said it was rapidly expanding, hiring for multiple positions across its sales, marketing and R&D teams, and plans to open a new office in California.
Business Insider got an exclusive look at the pitch deck Perimeter 81 used to bring investors on board. Check it out below: