![]() ![]() “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. (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 services as cyber attacks increase in number and severity. 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. Benefiting from businesses letting employees work remotely because of the pandemic, cloud security startup Netskope has more than doubled its valuation since its. “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.” We deeply value our investment partnership with the company and are excited to expand it as we continue on this journey," stated Will Griffith, ICONIQ Growth founding partner.“What we had before in the market didn’t work for that world,” he said. Netskope is pointing the way to where cloud, networking, security, and data protection are headed long-term. "Digital transformation doesn't happen without network transformation and security transformation, and we believe that's where Netskope delivers like no other provider. Netskope's Security Cloud provides a comprehensive, cloud-native SASE platform that enables secure enterprise digital transformation and secure remote connectivity through integrated zero-trust network access, secure web gateway and cloud access security broker capabilities. ![]() The company intends to aggressively expand its platform and go-to-market during its hypergrowth to meet the high demand for its market-leading Secure Access Service Edge (SASE) architecture. The successful investment round illustrates the company's notable team, vision, track record of strong global execution and opportunity to continue its rapid gaining of share in the fast-growing CAGR market, which analysts estimate to be a $30 billion total addressable market by 2024. We are fortunate to have attracted a truly exceptional team and set of partners, customers and industry luminaries who support and bring tremendous value to us, and we are pleased to take another step forward with all of them in our journey,” added Beri. "We were SASE before the term SASE existed and today we are seeing our vision manifest across the globe as enterprises increasingly turn to Netskope to enable secure digital transformation. Netskope is a rising cybersecurity platform that competes in the SASE (Secure Access Service Edge) segment. "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," commented Sanjay Beri, Netskope’s CEO and co-founder. The latest funding round for the cloud security startup was led by ICONIQ Growth with participation from Accel and Sequoia Capital Global Equities. The SASE company now has a post-money valuation of $7.5 billion. Major existing Netskope investors such as Lightspeed Venture Partners, Accel, Sequoia Capital Global Equities, Base Partners, Sapphire Ventures and Geodesic Capital also participated in this funding. ![]() 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 announced on Friday that the company closed a new $300 million investment round led by existing investor ICONIQ Growth. 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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