Netskope, the leading security cloud, today announced that the company has closed a new $340 million investment led by new investor Sequoia Capital Global Equities. New investors Canada Pension Plan Investment Board and PSP Investments participated, as well as all existing investors including Lightspeed Venture Partners, Accel, Base Partners, ICONIQ Capital, Sapphire Ventures, Geodesic Capital and Social Capital. Following this investment, the company has achieved a valuation of nearly $3 billion.
This additional investment by the world’s leading enterprise investors is yet another strong statement to the industry of the global demand for the award-winning Netskope Security Cloud Platform, the new standard for network and data security. 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 service edge (SASE) and cloud security. Netskope’s explosive growth reflects enterprises’ rapid adoption of its cloud-driven security architecture to reach their digital transformation goals and upgrade their legacy and on-premises security solutions.
The Netskope Security Cloud provides unrivaled visibility and real-time data and threat protection when accessing cloud services, websites, and private apps from anywhere, on any device. 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 all of this in one true cloud-based platform on the world’s largest, most performant, and most secure cloud network: NewEdge. 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.
“When we started Netskope in 2012, it was clear that the cloud was changing everything, but few saw how it would disrupt security,” said Sanjay Beri, CEO of Netskope. “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 become the unrivaled leader driving innovation across cloud, data and network security, which makes up the largest part of today’s security market,” said 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.”
According to Gartner’s “The Future of Network Security Is in the Cloud,” published in August 2019, “Digital business transformation efforts, the adoption of SaaS and other cloud-based services, and emerging edge computing platforms have turned the enterprise network ‘inside out,’ inverting historical patterns.” The report states, “Instead of the security perimeter being entombed in a box at the data center edge, the perimeter is now everywhere an enterprise needs it to be – a dynamically created, policy-based secure access service edge (SASE).” *