Perimeter 81 announced that it has received $40 million in its series B round of funding led by new investor Insight Venture Management, LLC on August 11, 2020. The transaction also included participation from existing investors Spring Ventures Ltd (TASE:SPRG) led by Aviv Refuah, Toba Capital, and SonicWALL Inc. As part of the transaction, Thomas Krane, Principal at Insight Venture Management, LLC joined the company's board of directors. The round was raised at a pre-money valuation of $160 million. The company has raised $65 million in funding till date.