It allows enterprises to purchase the capabilities from one provider rather than three different companies, which simplifies operations.Īccording to a statement, Netskope’s security cloud delivers cloud-native SASE platform of technologies that enable secure enterprise digital transformation and secure remote connectivity using integrated Zero Trust Network Access (ZTNA), Secure Web Gateway (SWG), and Cloud Access Security Broker (CASB) capabilities. Netskope is a cloud access security broker company.
Netskope said it is addressing the biggest challenge by detecting the use of unmanaged accounts. These products provide features for three different tasks including blocking malicious websites as a company’s employees browse the web, helping them securely log into work applications and securing data they transfer from cloud services. calls the SASE (secure access service edge) segment. The company is said to compete in a fast-growing part of the cybersecurity market that Gartner Inc. “We started Netskope because we saw a cloud-centric, digital-first future of business that simply can’t be achieved using legacy approaches to security and networking,” said Netskope co-founder and Chief Executive Officer Sanjay Beri.
#Cloud netskope 300m iconiq series#
The company said Iconiq Growth was their lead investor in the Series H round, backed up by contributions from Lightspeed Venture Partners, Accel, Base Partners, Sapphire Ventures, and Geodesic Capital and Sequoia Capital. “Going public is one day on our path, but you probably won’t see us raise another private round,” Beri said.Netskope Inc., a startup that provides security for cloud networks said it has received a $300 million late-stage funding round valuing at $7.5 billion. Beri admits that Netskope could be public now, though it doesn’t have to do it for the traditional reasons of raising capital or marketing. With the company racking up that kind of capital, the next natural step would be to become a public company. Today’s investment brings the total raised by Santa Clara-based Netskope to just over $1 billion, according to Crunchbase data (). We are fortunate to be in that situation, and our destination is to be the most impactful cybersecurity company in the world.īeri said the company just completed a “three-year journey building the largest cloud network that is 15 milliseconds from anyone in the world,” and intends to invest the new funds into continued R&D, expanding its platform and Netskope’s go-to-market strategy to meet demand for a market it estimated would be valued at $30 billion by 2024, he said.Įven pre-pandemic the company had strong hypergrowth over the past year, surpassing the market average annual growth of 50%, he added. “However, having a continued strong balance sheet isn’t a bad thing. “The reality is we could have raised $1 billion, but we don’t need more capital,” he added. Netskope today said it closed a 300 million funding round led by existing investor Iconiq Growth that sent the secure access services edge vendor’s valuation skyrocketing to 7.5 billion. Similar to other rounds, the company was not actively seeking new capital, but that it was “an inside round with people who know everything about us,” Beri said. Prior to that, it was a $168.7 million round () at the end of 2018. With this new round, Netskope continues to rack up large rounds: it raised $340 million () last February, which gave it a valuation of nearly $3 billion. “The theory is that digital transformation is inevitable, so our vision is to transform that market so people could do that, and that is what we are building nearly a decade later.” “What we had before in the market didn’t work for that world,” he said. Following this round, Netskope has achieved a post-money valuation of 7.5bn. The round also saw participation from existing investors Lightspeed Venture Partners, Accel, Sequoia Capital Global Equities, Base Partners, Sapphire Ventures, and Geodesic Capital.
Netskope co-founder and CEO Sanjay Beri told TechCrunch that since its founding in 2012, the company’s mission has been to guide companies through their digital transformation by finding what is most valuable to them - sensitive data - and protecting it. Secure Access Service Edge (SASE) company Netskope raised 300m in funding led by existing investor ICONIQ Growth. The oversubscribed insider investment was led by ICONIQ Growth, which was joined by other existing investors, including Lightspeed Venture Partners, Accel, Sequoia Capital Global Equities, Base Partners, Sapphire Ventures and Geodesic Capital. Netskope (), focused on Secure Access Service Edge architecture, announced Friday a $300 million investment round on a post-money valuation of $7.5 billion.
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