Netskope Attracts $340 Million in New Funding Round

Netskope Attracts $340 Million in New Funding Round

Netskope recently announced it attracted $340 million in a new investment funding round. Sequoia Capital Global Equities led the investment round, joined by Canada Pension Plan Investment Board and PSP Investments; other investors included Lightspeed Venture Partners, Accel, Base Partners, ICONIQ Capital, Sapphire Ventures, Geodesic Capital, and Social Capital. Currently, Netskope is valued at $3 billion with total funding equalling about $740 million.

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Netskope serves as a cloud access security broker and provides a security cloud; it facilitates visibility, real-time data, and threat protection when accessing cloud services, websites, and private applications. Additionally, Netskope offers Zero Trust secure access, advanced machine learning, and advanced threat protection to prevent cloud-based attacks.

According to a press release, Netskope appeared as a Leader in the Gartner Magic Quadrant for Cloud Access Security Brokers (CASBs). Also, it appeared in the Forbes Cloud 100. Recently, Netskope launched NewEdge, a global Netskope cloud-native security platform designed to deliver real-time security. Moreover, it unveiled the Netskope Private Access; this is a cloud-based service for securing access to private enterprise applications in public clouds and data centers. 

In the press release, CEO of Netskope Sanjay Beri gave a statement on the additional investment. “When we started Netskope in 2012, it was clear that the cloud was changing everything, but few saw how it would disrupt security. 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…that the astounding level of global demand we’re seeing today is just the tip of the iceberg.” 

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Ben Canner

Ben Canner is an enterprise technology writer and analyst covering Identity Management, SIEM, Endpoint Protection, and Cybersecurity writ large. He holds a Bachelor of Arts Degree in English from Clark University in Worcester, MA. He previously worked as a corporate blogger and ghost writer. You can reach him via Twitter and LinkedIn.
Ben Canner