Perimeter 81 Hits $1B Valuation With Secure Service Edge Platform

Cybersecurity startup Perimeter 81 has reached the elite unicorn status with its latest valuation of $1 billion. This follows a successful Series C funding round that raised $100 million in capital for the fast-growing provider of a cloud-based, zero-trust remote cybersecurity platform. The valuation is five times the company’s previous high mark of $200 million, which came after its Series B fundraise in 2020. Perimeter 81 joins a modest group of cybersecurity unicorns that includes Snyk, Lacework, and Wiz.

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Founded in 2018, Perimeter 81 provides a secure service edge platform that enables a company’s workers to securely access business applications—as well as other features for avoiding data breaches. In fact, its extensive list of cybersecurity functions is a major selling point for the platform. At a time when companies are streamlining, versatile platforms have a distinct advantage.

With the additional capital, the company plans to grow its sales, marketing, and product development teams and add to its staff of 250. The round was led by B Capital and was joined by Insight Partners, Toba Capital, ION Crossover Ventures, Entrée Capital, and Spring Ventures.