the round has the company at a valuation of $800 million. The round was led by Vista Equity Partners with participation from Neuberger Berman, General Catalyst, JP Morgan, and other existing investors. Menlo Security said the funds would be used to expand go-to-market activities, as well as provide increased investment in engineering to aid a move into new product categories.
Menlo Security's services are tapping into the growing enterprise interest in the Zero Trust security model.Menlo Security's services are tapping into the growing enterprise interest in the Zero Trust security model. The Zero Trust model of security can help chief information security officers and IT security professionals face the security challenges of remote work.
This model requires verifying a user's identity and role in the organization before giving them access to only the applications they need for their function. Menlo Security provides user access control, policy management, browser isolation, and network access together, addressing the Zero Trust Network Access segment of the security services market.
The advantage of ZTNA services for an enterprise is that these security services can be put in place via an easy-to-deploy cloud-based model and allow more fine-grained control of remote user access. One consequence of this approach is that enterprises are expected to phase out use of technologies such as virtual private networks over time.
An upswing in M&A has also occurred in the ZTNA market in 2020, with the following companies having been acquired: