With $231.4 million in funding to date, including its latest $75 million round in September of 2015, Netskope’s valuation could hover near the $1 billion mark.īeri, an alum of cloud-based networking player Juniper Networks, says the new funding will allow Netskope to be financially independent so that it can “chart its own course.” While the startup has succeeded in boosting its revenue and customer-base nearly threefold over the past year, it will now focus on becoming profitable and stealing market share from traditional security providers including Palo Alto Networks and Symantec. While the Los Altos, Calif.-based startup’s valuation has been kept quiet, founder and CEO Sanjay Beri says the recent funding marks a “significant upround” and will likely be its final venture round. Netskopes cloud-native SASE platform is called NewEdge, and its architecture enables. Accel Lightspeed Venture Partners Sequoia Capital Sapphire Ventures Geodesic Capital Base Partners ICONIQ Growth. As the rapid adoption of cloud services opens up a new realm of possibilities for cybercriminals, Netskope acts as a gatekeeper between businesses and their cloud-based apps such as Salesforce and Box. The Series H funding was led by existing investor ICONIQ Growth. The five-year-old company, founded by a team of industry veterans, lists over 400 enterprise customers across verticals such as healthcare, energy, retail and finance, who send their traffic through Netskope’s infrastructure, where it is monitored in private data centers around the world. Social Capital and Iconiq also participated in the round alongside new backers Sapphire Ventures and Geodesic Capital. July 9 (Reuters) - Netskope said on Friday its valuation more than doubled to 7.5 billion after a 300 million funding round led by ICONIQ Growth, highlighting massive demand for cloud security. We believe Netskope is the technology leader and category-defining platform in CASB, SWG, Private Access (Zero Trust Network Access) and the broader SASE market.Cloud-access security broker (CASB) Netskope, which monitors customers’ disparate apps and devices, raised $100 million in a Series E round led by previous investors Lightspeed Venture Partners and Accel Partners. These customers collectively represent more than 30 of the Fortune 100 and some of the world’s largest airlines, commercial banks, healthcare providers, and telcos. For these reasons and others, over 1,500 global enterprises choose to partner with Netskope as their preferred SASE platform. We often heard about Netskope’s “cutting edge technology,” as well as its “innovative product roadmap” and “SASE leadership”. We share Netskope’s ethos of listening to the voice of the customer, so we asked global chief information security officers (CISOs), chief information officers (CIOs), network architects and security analysts the value of Netskope. Year after year, we have been continually impressed by Netskope’s ever-expanding product capabilities and the visibility it provides into the opacity of the cloud. Starting at every cloud access point-from the individual contributor to the CISO and CEO-Netskope has the ability to not only provide real-time awareness of cloud security health but deliver actionable measures that can prevent catastrophic security threats. While the cloud adds layers of security vulnerabilities, Netskope serves as a steel backbone to protect and secure enterprises through capabilities like Advanced Analytics, Cloud Access Security Broker (CASB), Secure Web Gateway (SWG), Private Access (Zero Trust Network Access), Public Cloud Security and more. We at ICONIQ Growth are thrilled to expand our partnership as the lead investor in Netskope’s latest $300M financing round, announced today.įor modern enterprises, the cloud is increasingly considered the essential scaffolding for any company’s success. Netskope’s story is one that truly humbles us and also highlights the best part of our roles-to partner with product-focused founders in supporting their growth and mission to build category-defining companies. The company has evolved the best-of-breed and feature-rich CASB (Cloud Access Security Broker) of its early years into an enterprise-grade, end-to-end cybersecurity cloud platform. Their entrepreneurial journey has been guided by the needs and voice of the customer. When we first met Sanjay and the Netskope team in 2015, we were immediately inspired and enamored by what they were building to transform cloud security. We were proud to invest in the company in 2015 and have been thrilled to support the company in every financing since as they build out the leading global SASE (Secure Access Service Edge) platform for the modern enterprise cloud. Sanjay Beri, Netskope’s Founder and CEO, has had a vision since inception to build a generational cybersecurity platform from the ground up while always staying focused on the long-term horizon. SANTA CLARA, Calif., J/PRNewswire/ - Netskope, the SASE leader, today announced that the company has closed a new 300 million investment round led by existing investor ICONIQ Growth.
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