{"id":25207,"date":"2021-07-10T06:42:30","date_gmt":"2021-07-10T06:42:30","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/cloud-security-platform-netskope-boosts-valuation-to-7-5b-following-300m-raise.html"},"modified":"2021-07-10T06:42:30","modified_gmt":"2021-07-10T06:42:30","slug":"cloud-security-platform-netskope-boosts-valuation-to-7-5b-following-300m-raise","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/cloud-security-platform-netskope-boosts-valuation-to-7-5b-following-300m-raise.html","title":{"rendered":"Cloud security platform Netskope boosts valuation to $7.5B following $300M raise"},"content":{"rendered":"

Netskope<\/a>, focused on Secure Access Service Edge architecture, announced Friday a $300 million investment round on a post-money valuation of $7.5 billion.<\/p>\n

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.<\/p>\n

Netskope co-founder and CEO Sanjay Beri told TechCrunch that since its founding in 2012, the company\u2019s mission has been to guide companies through their digital transformation by finding what is most valuable to them \u2014 sensitive data \u2014 and protecting it.<\/p>\n

\u201cWhat we had before in the market didn\u2019t work for that world,\u201d he said. \u201cThe 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.\u201d<\/p>\n

With this new round, Netskope continues to rack up large rounds: it raised $340 million<\/a> last February, which gave it a valuation of nearly $3 billion. Prior to that, it was a $168.7 million round<\/a> at the end of 2018.<\/p>\n

Similar to other rounds, the company was not actively seeking new capital, but that it was \u201can inside round with people who know everything about us,\u201d Beri said.<\/p>\n

\u201cThe reality is we could have raised $1 billion, but we don\u2019t need more capital,\u201d he added. \u201cHowever, having a continued strong balance sheet isn\u2019t a bad thing. We are fortunate to be in that situation, and our destination is to be the most impactful cybersecurity company in the world.<\/p>\n

Beri said the company just completed a \u201cthree-year journey building the largest cloud network that is 15 milliseconds from anyone in the world,\u201d and intends to invest the new funds into continued RD, expanding its platform and Netskope\u2019s go-to-market strategy to meet demand for a market it estimated would be valued at $30 billion by 2024, he said.<\/p>\n

Even pre-pandemic the company had strong hypergrowth over the past year, surpassing the market average annual growth of 50%, he added.<\/p>\n

Today\u2019s investment brings the total raised by Santa Clara-based Netskope to just over $1 billion, according to Crunchbase data<\/a>.<\/p>\n

With the company racking up that kind of capital, the next natural step would be to become a public company. Beri admits that Netskope could be public now, though it doesn\u2019t have to do it for the traditional reasons of raising capital or marketing.<\/p>\n

\u201cGoing public is one day on our path, but you probably won\u2019t see us raise another private round,\u201d Beri said.<\/p>\n

\n

To guard against data loss and misuse, the cybersecurity conversation must evolve<\/a><\/p>\n<\/blockquote>\n

\n

\n

Netskope hauls in another $340M investment on nearly $3B valuation<\/a><\/p>\n<\/blockquote>\n

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\u00a0<\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/IcrRMhh3k0M\/<\/p>","protected":false},"excerpt":{"rendered":"

Netskope, focused on Secure Access Service Edge architecture, announced Friday a $300 million investment round on a post-money valuation of $7.5 billion. The oversubscribed insider investment was led by ICONIQ <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-25207","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t