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.” (alumni from Google, Facebook, Nutanix, Rubrik, ZScaler, Netskope, AWS, IBM Research). “What we had before in the market didn’t work for that world,” he said. Infrastructure Engineer (AWS cloud ops and backend, US only). 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. The company is now hiring for dozens of open roles across its engineering and customer support departments.įounded in 2012, Netskope has raised $1 billion in venture capital financing to date, according to Crunchbase.Īdditional investors Lightspeed Venture Partners, Accel and Sequoia participated in the round, among others.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 also plans to invest in its team, which already tops 1,000. The company will invest the additional capital in expanding its go-to-market strategy as it continues to scale. “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.” “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,” Sanjay Beri, the company’s co-founder and CEO, said in a statement.

The end result? Users are provided with conditional entry and threats from outside of an organization are kept at bay. Unlike other cybersecurity platforms, Netskope provides secure web gateway (SWB), zero trust network access (ZTNA) and cloud access security broker (CASB) capabilities on one platform. With Netskope, users can establish connections on or off of the platform’s network.īay Area Tech News Coda Raised $100M, Blend Files for IPO, and More Netskope’s secure access service edge (SASE) platform connects users directly to the internet, an application, or their company infrastructure from the device of their choice. In February, Netskope raised $340 million at a valuation of $3 billion. That’s more than a $4 billion jump from its previous funding round. Santa Clara-based cybersecurity startup Netskope announced last week that it raised $300 million in an investment round led by ICONIQ Growth.įollowing the raise, the company’s valuation skyrocketed to a whopping $7.5 billion.

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