Cato Networks, an Israeli cybersecurity company specializing in secure access service edge (SASE) technology used by clients such as Danish multinational brewer Carlsberg and Swiss luxury watchmaker TAG Heuer, has raised $238 million in equity investment.

This brings the total amount raised in its history to $773 million.

The latest funding round was led by LightSpeed Venture Partners with the participation of Adams Street Partners, Softbank Vision Fund 2, Sixty Degree Capital, and Singtel Innov8. The cash infusion helped the Tel Aviv-based company skyrocket in its valuation to $3 billion.

Cato was recently recognized as a ZTE (zero trust edge)/SASE leader by Forrester Research, and as a challenger in Gartner’s Magic Quadrant for single-vendor SASE.

Cato Networks was established in 2015 by Check Point Software and Imperva cofounder Shlomo Kramer and Incapsula cofounder Gur Shatz. Imperva later acquired Incapsula.

Kramer said the success of the funding round reflects the market confidence in Cato Networks and single-vendor SASE market.

“Cato’s SASE platform uniquely enables organizations of all sizes to optimally secure their businesses without the cost, complexity, and risk of owning and maintaining a pile of point solutions. Cato provides the only SASE platform creating a seamless customer experience and empowers IT to move at the speed of business.”

In other encouraging news, Israeli cybersecurity startup Bionic announced it is in the process of being acquired by Texas-based cybersecurity giant CrowdStrike in a deal worth around $350 million.

Bionic developed a platform that helps companies secure cloud-native applications and manage risks associated with apps. It has raised $83 million in funding.

The 100-strong company was founded in 2019 by Idan Ninyo and Eyal Mamo, both graduates of IDF’s elite cyber units.