Israel’s Cato Networks said on Monday it had raised $359 million in a funding round, valuing the cybersecurity firm at more than $4.8 billion, as investors bet on growing demand for artificial intelligence-driven security and networking solutions.

An uptick in sophisticated cyberattacks has prompted fears of operational disruptions among companies and an increase in investor interest in AI-powered cybersecurity providers.

The funding was led by Vitruvian Partners and ION Crossover........

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