- Leading security cloud company Netskope announced that it has raised $340 million in funding at a valuation of nearly $3 billion
Leading security cloud company Netskope announced that it has raised $340 million in funding led by Sequoia Capital Global Equities. And new investors that joined the round include Canada Pension Plan Investment Board and PSP Investments as well as all existing investors, including Lightspeed Venture Partners, Accel, Base Partners, ICONIQ Capital, Sapphire Ventures, Geodesic Capital, and Social Capital.
With this round of funding, Netskope has achieved nearly $3 billion in valuation. And this funding round also validates the global demand for the company’s award-winning Netskope Security Cloud Platform.
“When we started Netskope in 2012, it was clear that the cloud was changing everything, but few saw how it would disrupt security,” said Netskope CEO & founder 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.”
Netskope has seen 80% year-over-year growth in enterprise customers. And the company is considered one of the fastest-growing of its kind at scale in one of the most rapidly growing areas of cybersecurity: secure access server edge (SASE) and cloud security. Plus Netskope’s tremendous growth reflects enterprises’ rapid adoption of its cloud-driven security architecture in order to reach their digital transformation goals and upgrade their legacy and on-premises security solutions.
“Netskope has become the unrivaled leader driving innovation across cloud, data and network security, which makes up the largest part of today’s security market,” added Patrick Fu, managing partner at Sequoia Capital Global Equities. “Netskope is raising the bar for game-changers who are successfully pushing beyond the limitations of existing technology to reshape a market. Sanjay and the entire Netskope team are on an incredible trajectory, and we are thrilled to partner with this talented team for the long term.”
Netskope’s Security Cloud provides unrivaled visibility and real-time data and threat protection while accessing cloud services, websites, and private apps from anywhere on any device. And no other company has addressed shifting market demands by combining 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 evade legacy defenses.
Netskope delivers these tools in one true cloud-based platform on the world’s largest secure cloud network: NewEdge. And in addition, only Netskope understands the cloud and takes a data-centric approach that empowers security teams with the right balance of protection and speed they need to secure their digital transformation journey.
Over the last year, Netskope achieved a number of milestones including a 50% growth in employee headcount with significant investments in engineerings and sales. Plus the company also expanded its executive bench to include chief financial officer Drew Del Matto, Chief Development Officer David Wu, and SVP of Platform Engineering Joe DePalo.
It’s also worth mentioning that Netskope also executed on a number of product innovations, including launching NewEdge — which is a globally distributed network that enables the Netskope cloud-native security platform to deliver real-time security without compromising performance. And the company also released the industry’s only next-generation SWG solution that seamlessly consolidates inline cloud-native SWG, inline cloud-native CASB, and Cloud DLP capabilities. Plus the company also unveiled Netskope Private Access, a cloud-based service for secure access to private enterprise applications in both the public cloud and the data center.
The company also opened 26 new data centers to allow Netskope to run on one of the world’s largest and fastest security networks NewEdge thus enabling the Netskope cloud-native security platform to deliver real-time security without compromising performance.
Read more on Pulse 2.0:
– Netskope Raises $168.7 Million To Expand Its Enterprise Security Cloud Platform
