![]() ![]() Today, it announced it has almost tripled that number, with a. We are fortunate to be in that situation, and our destination is to be the most impactful cybersecurity company in the world. When Netskope announced its 168.7 million round at the end of 2018, the company had a valuation over 1 billion at that time. (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. “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. Netskope co-founder and CEO Sanjay Beri told TechCrunch that since its founding in 2012, the company’s mission has been to guide companies through their digital transformation by finding what is most valuable to them - sensitive data - and protecting it. 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. “That in mind, we continue to see massive uptake in regulated industries such as financial services, healthcare, and retail,” he said.Netskope, focused on Secure Access Service Edge architecture, announced Friday a $300 million investment round on a post-money valuation of $7.5 billion. Netskope, focused on Secure Access Service Edge architecture, announced Friday a 300 million investment round on a post-money valuation of 7.5 billion. JNetskope raises 300M to expand both its platform and go-to market Netskope announced that the company has closed a new 300 million investment round led by existing investor. It’s also expanded into new markets including Australia, Singapore, Chile, Colombia, Brazil, Mexico, Italy, Spain and Germany.Īs far as vertical markets are concerned, Beri told Crunchbase News that “there is not an industry that is immune to the security concerns” Netspoke addresses. In addition to its new headquarters in Santa Clara, Netskope has opened new offices in Paris, São Paulo, Seattle, New York, St. Specifically, Netspoke says it has 1,000 customers and added 300 employees in less than a year’s time. Patrick Fu, managing partner at Sequoia Capital Global Equities, said his firm believes Netskope is the “unrivaled leader driving innovation” across cloud, data and network security.”īesides seeing 80 percent enterprise customer growth (25 percent of which is among the Fortune 100), the company says it has boosted its headcount by 50 percent with a focus on engineering and sales. Netskope CEO Sanjay Beri said that when he started the company in 2012, “it was clear that the cloud was changing everything, but few saw how it would disrupt security.” Netskope CEO and Founder Sanjay Beri Put more simply, Netskope’s Security Cloud offering aims to give companies visibility and real-time data and threat protection when accessing cloud services, websites and private apps from anywhere, on any device. Netskope, the leading cloud access security broker, today announced it has closed a 75 million Series D funding round led by Iconiq Capital. Netskope describes itself as an alternative to “legacy, outdated security solutions that have failed to keep up with enterprises’ rapid adoption of new cloud and mobile technology, which have dissolved the ‘perimeter’ of a business’ network that traditional solutions were originally built for.” New investors Canada Pension Plan Investment Board and PSP Investments participated in its latest round, as well as all existing investors including Lightspeed Venture Partners (which led its Series F), Accel, Base Partners, ICONIQ Capital, Sapphire Ventures, Geodesic Capital and Social Capital. Netskope’s last funding–a $168.7 million Series F–closed in November 2018, propelling it to unicorn status. The financing values the Santa Clara, Calif.-based company at nearly $3 billion, it said, and brings its total raised to over $740 million, according to Crunchbase data. Netskope, a cloud security company, announced this morning it has raised $340 million in a Series G round led by Sequoia Capital Global Equities. ![]()
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