SASE company Netskope has announced it has closed a new $300 million investment round led by existing investor ICONIQ Growth. Also participating in this latest funding round were all other major existing Netskope investors, including Lightspeed Venture Partners, Accel, Sequoia Capital Global Equities, Base Partners, Sapphire Ventures, and Geodesic Capital. Following this significantly oversubscribed investment round, Netskope has achieved a post-money valuation of $7.5 billion.
The latest round of investment will allow Netskope to continue its growth within the CAGR market and cloud security market and to expand both its platform and SASE architecture. The company says with cybercrime increasing at an alarming rate and enterprises transforming their legacy IT infrastructure and moving applications and data to the cloud, security needs to transform as well.
CEO and co-founder of Netskope, Sanjay Beri, says: "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.
“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 are fortunate to have attracted a truly exceptional team and set of partners, customers and industry luminaries who support and bring tremendous value to us, and we are pleased to take another step forward with all of them in our journey.”
Investor, ICONIQ Growth, adds: "Digital transformation doesn’t happen without network transformation and security transformation. Netskope is pointing the way to where cloud, networking, security, and data protection are headed long-term. We deeply value our investment partnership with the company and are excited to expand it as we continue on this journey.”