“Going public is one day on our path, but you probably won’t see us raise another private round,” Beri said. 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. 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. 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. 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. Netskope, focused on Secure Access Service Edge architecture, announced Friday a 300 million investment round on a post-money valuation of 7.5 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. Accel, Sequoia Capital Global Equities, ICONIQ Growth, Sapphire Ventures. 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. Netskopes cloud-scale security platform provides context-aware governance of.
#CLOUD NETSKOPE ICONIQ GROWTH SERIES#
Netskope was previously valued at $3B after it had raised a Series G round in Feb 2020.Netskope, focused on Secure Access Service Edge architecture, announced Friday a $300 million investment round on a post-money valuation of $7.5 billion.
The new round more than doubled the company's valuation to $7.5B post-money. 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. The company raised $300M in a new round on Jul 09, 2021. Netskope is backed by Lightspeed, Accel, Sequoia Capital Global Equities, ICONIQ Growth, Sapphire Ventures, Base Partners, and others. These include log ingestion, API connectors, an agent-less forward proxy, reverse proxy, thin agent and profile for remote users on PCs or mobile devices, and GRE and IPSEC tunneling. Netskope offers different deployment options for traffic steering for analysis and policy control. The solution steers cloud and Web traffic to a cloud-native service for the purposes of inspection and policy enforcement.
#CLOUD NETSKOPE ICONIQ GROWTH SOFTWARE#
Netskope software is delivered as an SaaS via a distributed cloud in SOC-2 data centers. Netskope's patented Cloud XD technology eliminates blind spots by going deeper than any other security provider to quickly target and control activities across thousands of cloud services and millions of websites.
The company is based in Santa Clara, California with a software development office in Bangalore, India. Congratulations to the ICONIQ Growth portfolio companies recognized on Forbes' America’s Best Startup Employers list of 2022: Airtable, Aurora Solar, Calendly, Chime, Dataiku, dbt Labs, Fetch. Netskope was founded in 2012 by Sanjay Beri, Lebin Cheng, Ravi Ithal and Krishna Narayanaswamy. Netskope's cloud-scale security platform provides context-aware governance of all cloud usage in the enterprise in real time, whether accessed from the corporate network, remote, or from a mobile device. Netskope is a SASE leader that helps companies protect data and protect against threats in cloud applications, cloud infrastructure, and the web.
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