![]() The explosive growth we're experiencing is evidence that organizations need a solution that enables them to mitigate risk, prevent data loss, and govern usage in cloud apps beyond simply 'allowing' or 'blocking' the apps. Instead, a new innovative solution that brought real-time actionable context and security to the world of cloud apps powered by APIs was clearly needed. "We founded Netskope on the premise that rapid development and adoption of cloud apps and services would bring about a new security conundrum for IT that simply couldn't be addressed by existing tools built for on-premises apps or generic websites. "This is a pivotal moment for the industry, and further validation that ensuring secure usage of cloud services is one of the single greatest concerns for CIOs and CISOs today," said Sanjay Beri, co-founder and CEO, Netskope. The new round brings Netskope's total amount of funding raised to more than $130 million. The new capital will be used to expand sales, marketing, customer success, engineering and research operations worldwide. Existing investors Accel Partners, Lightspeed Venture Partners and the Social + Capital Partnership also participated in the round. 3, 2015 /PRNewswire/ - Netskope, the leading cloud access security broker, today announced it has closed a $75 million Series D funding round led by Iconiq Capital. Netskope has always focused its particular flavor of security on the cloud, and as more workloads have moved there, it has certainly worked in its favor.LOS ALTOS, Calif., Sept. Today the company announced a $340 million investment on a valuation of nearly $3 billion. Sequoia Capital Global Equities led the round, but in a round this large, there were a bunch of other participating firms, including new investors Canada Pension Plan Investment Board and PSP Investments, along with existing investors Lightspeed Venture Partners, Accel, Base Partners, ICONIQ Capital, Sapphire Ventures, Geodesic Capital and Social Capital. Today’s investment brings the total raised to more than $740 million, according to Crunchbase data.Īs with so many large rounds recently, CEO Sanjay Beri said the company wasn’t necessarily looking for more capital, but when brand name investors came knocking, they decided to act. “We did not necessarily need this level of capital but having a large balance sheet and a legendary set of investors like Sequoia, Lightspeed and Accel putting all their chips behind Netskope for the long term to dominate the largest market in security is a very strong signal to the industry,” Beri said.įrom the start, Netskope has taken aim at cloud and mobile security, eschewing the traditional perimeter security that was still popular when the company launched in 2012. ![]() ![]() ![]() “Legacy products based on traditional notions of perimeter security have gone obsolete and inhibit the needs of digital businesses. Cloud security firm Netskope said Friday it has secured 340 million in an investment round that values it at almost 3 billion and was led by new investor. Today’s urgent requirement is security that is fast, delivered from the cloud, and provides real-time protection against network and data threats when cloud services, websites, and private apps are being accessed from anywhere, anytime, on any device,” he explained. When Netskope announced its $168.7 million round at the end of 2018, the company had a valuation over $1 billion at that time. Today, it announced it has almost tripled that number, with a valuation close to $3 billion. That’s a big leap in just two years, but it reports 80% year-over-year growth, and claims to be “the fastest-growing company at scale in the fastest-growing areas of cybersecurity: secure access server edge (SASE) and cloud security,” according to Beri. The next natural step for a company at this stage of maturity would be to look to become a public company, but Beri wasn’t ready to commit to that just yet.
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