Cato Networks plans to go public no later than 2025. Plans are said to be currently being prepared in collaboration with three banks.
Cato Networks is looking at options for an IPO with banks Goldman Sachs, JPMorgan Chase and Barclays. The company wants to complete these plans in 2025, or earlier if the provided markets are sufficiently favourable.
The plans became public through Reuters, which spoke to several sources involved in the matter. Those conversations also named how much the cybersecurity company would like to raise with the IPO. It would be $500 million. That amount is not final and much lower than the $3 billion valuation the company received during a funding round in 2023.
Delay of IPO
During that funding round, plans for an IPO were already being discussed. At the time, the deadline was 2024. Sources say uncertainty in the markets could delay the IPO. 2025 is now being pushed forward as the deadline.
Cato Networks is a Secure Access Service Edge (SASE) provider. It actually provides a networking model that merges SD-WAN management and security. The company was founded in 2015 in Israel. One of the company’s co-founders had relevant experience in the security industry with the founding of Check Point Software.
Also read: Cato Networks introduces XDR based on SASE: what does that mean?
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