Cloud Computing Outlook

Netskope Secures $340 Million at $3 Billion Valuation

By Cloud Computing Outlook | Friday, March 27, 2020

The Netskope Security Cloud provides unprecedented visibility and real-time data and threat protection when accessing cloud services, websites, and private apps from anywhere, on any device.

FREMONT, CA: Netskope, a cybersecurity company that helps protect public clouds and web-based software, raised $340 million investment in a round of funding led by new investor Sequoia Capital Global Equities with participation from Lightspeed Venture Partners, Accel, ICONIQ Capital, Base Partners, Sapphire Ventures, Geodesic Capital, Social Capital, Canada Pension Plan Investment Board, and PSP Investments. Following the investment, the company has achieved a valuation of nearly $3billion. 

San Francisco-based Netskope’s cloud security platform, founded in 2012, offers enterprises with visibility, real-time insights, and threat protection across cloud services, including Amazon’s AWS, Microsoft’s Azure, and Google Cloud. No other company has tackled the shifting market demands by merging next-generation secure web gateway (SWG) capabilities, zero trust secure access, advanced machine learning to detect unauthorized data exfiltration, and advanced threat protection to prevent cloud-based attacks that often bypass legacy defenses. It delivers all of this in one true cloud-based platform on the world’s largest, most efficient, and most secure cloud network: NewEdge. Also, only Netskope understands the cloud and takes a data-centric approach that authorizes security teams with the right balance of protection and speed they need to secure their digital transformation journey.

“When we started Netskope in 2012, it was clear that the cloud was changing everything, but few saw how it would disrupt security,” noted Netskope CEO Sanjay Beri. “Since inception, we have always focused on architecting a true cloud platform that, over time, will secure and govern all of an enterprise’s traffic as the perimeter evolves into a new high-performance worldwide cloud edge. This latest investment from the top enterprise and security investors in the world is proof of not only our enormous success in establishing Netskope as the new gold standard for cloud-delivered security but also that the astounding level of global demand we’re seeing today is just the tip of the iceberg.”

With 80 percent year-over-year growth in enterprise customers, Netskope is the fastest-growing company at scale in the fastest-growing areas of cybersecurity - secure access server edge (SASE) and cloud security. Its growth mirrors the enterprises’ rapid adoption of its cloud-driven security architecture to reach their digital transformation goals and upgrade their legacy and on-premises security solutions.

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