Cyber Firm Cato Networks Hits $4.8 Billion Valuation In New Deal

The Israeli network-security startup Cato Networks has raised $359 million in funding at a valuation of $4.8 billion as the cyber industry rides a wave of interest following Alphabet Inc.’s Google $32 billiontakeover of Wiz three months ago.

Private equity firm Vitruvian Partners led the deal with Israeli investor ION Crossover Partners, Cato said in a statement on Monday. Earlier investors Lightspeed Ventures Partners, Acrew Capital and Adams Street Partners also participated.

Cato sells security software that helps companies connect their apps and devices in a single cloud-computing network, pitching it as a safer, cheaper alternative to ...