The company is embroiled in a few lawsuits with top cloud security rival Bitglass, with Bitglass alleging in a July 2020 complaint that Netskope and ex-executive Joseph Green exploited confidential information obtained through Green to gain an improper advantage in the marketplace. Netskope is pointing the way to where cloud, networking, security, and data protection are headed long-term.” 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.”Įchoing a similar sentiment, ICONIQ Growth Founding Partner Will Griffith added, “The demand for Netskope as part of a properly designed SASE architecture is very strong, and Sanjay and the entire Netskope team are seizing their moment. Like Netskope, rival Tanium has raised more than $1bn and has been a rumoured initial public offering (IPO) candidate for years.Ĭommenting on the round, Beri said, 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. The latest funding round propelled the company’s valuation past fellow security upstarts Rubrik, Snyk and OneTrust. In February 2020, it closed a $340m Series G funding round led by Sequoia Capital Global Equities on a $2.8bn valuation. The company’s SASE approach also includes a private cloud providing fast and secure access from any location to data, applications, and websites.įounded in 2012, Netskope employs 1,392 people and has now raised $1.bn in eight rounds of funding. Its cloud-native SASE architecture also includes NewEdge, a connected private cloud, which enables fast and secure access from any location to data, applications, and websites wherever they reside. Led by Sanjay Beri, Netskope provides a 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. The company intends to use the funds to continue to expand both its platform and go-to-market initiatives. 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. “Going public is one day on our path, but you probably won’t see us raise another private round,” Beri said.Secure Access Service Edge (SASE) company Netskope raised $300m in funding led by existing investor ICONIQ Growth. 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. 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.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |