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Netskope

Netskope

Netskope is a cloud access security broker company. It provides a cloud-scale security platform for managing cloud usage in an enterprise.

Overview

Netskope is a cloud access security broker company. The company provides a cloud-scale security platform for managing cloud usage in an enterprise. Netskope was founded in 2012 by CEO Sanjay Beri, CTO Krishna Narayanaswamy, Chief Architect Ravi Ithal, and then-VP of App Engineering Lebin Cheng. As of 2021, the company employs over 1000 people and owns more than seventy-five patents. In 2021, the company received a valuation of $7.5 billion.

Products and Services

Netskope's platform, called the Netskope Security Cloud, is a Secure Access Service Edge (SASE) platform, which delivers network and security as a cloud service directly to the source of a connection rather than the enterprise data center. The company's Secure Web Gateway, dubbed the Next Gen SWG, allows users to block malware, detect threats, filter by category, protect data and control app use for users from any location or device. Netskope's platform also provides analytics through four dashboards for CxO security and risk, data risk and security, Cloud and SaaS risk and usage, and web and cloud-enabled threats.

The platform also features a cloud-based Zero Trust Access Network (ZTNA) called Netskope Private Access, which can allow authenticated users to connect with one another. Use cases for Private Access include augmenting remote access VPNs, providing third party access, cloud migration, M & A integration, accessing DevOps, and security transformation. Netskope also provides Cloud Access Security Broker (CASB) services that protect managed cloud apps such as Office 365, Box, G Suite and others from threats or data breaches. In addition, Netskope also provides visibility, compliance, and security for public clouds like Amazon Web Services (AWS), Azure, and Google Cloud Platform (GCP).

Customers

Netskope provides SASE services to a multitude of businesses and government entities, including around 25% of Fortune 100 companies.

Funding

Since 2012, Netskope has participated in nine funding rounds, receiving over $1 billion in total. In Netskope's latest round, a Series G announced on July 9, 2021, the company raised $300 million and received a post-money valuation of $7.5 billion. The round was led by tech-based venture capital firm ICONIQ Growth, who was joined by existing investors Lightspeed Venture Partners, Accel, Sequoia Capital Global Equities, Base Partners, Sapphire Ventures and Geodesic Capital.

As of 2021, there are no concrete plans for Netskope to become a publicly traded company. Netskope CEO Sanjay Beri told TechCrunch in 2021 that "going public is one day on our path," and speculated that the company "probably" wouldn't raise another private round.

Patents

Netskope has more than seventy-five patents and over sixty additional patents pending that make up its global patent portfolio. On July 9, 2021, the company announced that it recently been awarded several patents by the US Patent and Trademark Office, which include:

  • Data Loss Prevention (DLP) based on object metadata (Patent No. 10,979,458)
  • Detecting screenshot images for protection against loss of sensitive screenshot-borne data (Patent No. 10,949,961)
  • Detecting image-borne identification documents for protecting sensitive information (Patent No. 10,990,856)
  • Client software connection inspection and access control (Patent No. 11,019,031)
  • Remotely accessed controlled contained environment (Patent No. 11,019,106)
  • Middleware security layer for cloud computing services (Patent No. 11,019,101)

Timeline

July 9, 2021
Netskope raises a $300,000,000 venture round from Accel Partners, Base Partners, Geodesic Capital, ICONIQ Capital, Lightspeed Venture Partners, Sapphire Ventures and Sequoia Capital.
May 19, 2021
Netskope launches the Netskope Online Community.
April 26, 2021
Netskope raises a $1,500,000 series G round from Global Secure Invest.
February 2021
Netskope raises $340M in funding, giving it a valuation of nearly $3B.
February 6, 2020
Netskope raises a $340,000,000 series G round from Accel Partners, Base Partners, Canada Pension Plan Investment Board, Geodesic Capital, ICONIQ Capital, Lightspeed Venture Partners, PSP Investments, Sapphire Ventures, Sequoia Capital and Social Capital.
November 13, 2018
Netskope raises a $168,700,000 series F round from Accel Partners, Base Partners, Geodesic Capital, ICONIQ Capital, Lightspeed Venture Partners, Sapphire Ventures and Social Capital.
June 6, 2017
Netskope raises a $100,000,000 series E round from Accel Partners, Geodesic Capital, ICONIQ Capital, Lightspeed Venture Partners, Sapphire Ventures and Social Capital.
September 3, 2015
Netskope raises a $75,000,000 series D round from Accel Partners.
May 15, 2014
Netskope raises a $35,000,000 series C round from Accel Partners.
October 13, 2013
Netskope raises a $15,900,000 series B round from Lightspeed Venture Partners and Social Capital.
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Funding rounds

People

Name
Role
LinkedIn

Sanjay Beri

Founder

Robin Hong

Employee

Further reading

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Documentaries, videos and podcasts

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Companies

Company
CEO
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Products/Services

News

Title
Author
Date
Publisher
Description
July 27, 2021
The Indian Express
After bids from seven investors, Netskope raised $300 million this month at a valuation of $7.5 billion, up from a $2.8 billion valuation last year. It was one of the year's largest cybersecurity funding rounds, but not the maximum that Netskope could have attained.
Erin Woo
July 26, 2021
www.nytimes.com
Investors have poured $12.2 billion into cybersecurity companies so far this year, nearly $2 billion more than the total for all of 2020.
Christine Hall
July 9, 2021
TechCrunch
Netskope, focused on Secure Access Service Edge architecture, announced Friday a $300 million investment round on a post-money valuation of $7.5 billion.
Crunchbase News
July 9, 2021
Crunchbase News
Crunchbase News' top picks of the news to stay current in the VC and startup world.
FinSMEs
July 9, 2021
FinSMEs
About | Advertise | Contact | Disclaimer | News | The Daily Deal Newsletter FinSMEs.com by FinSMEs is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
Netskope
May 19, 2021
www.prnewswire.com:443
/PRNewswire/ -- Netskope, the SASE leader, today launched the Netskope Online Community, a forum built for customers to come together with like-minded...
Aaron Holmes
May 13, 2021
Business Insider
Hackers often target cloud apps to break into bigger companies, said Netskope's Jason Clark as the startup hires hundreds of engineers and marketers.
Alex Scroxton
May 5, 2021
ComputerWeekly.com
Despite shared goals, combative and dysfunctional relationships within specialist tech teams are putting digital transformation projects at risk, according to a report
Netskope
May 5, 2021
www.prnewswire.com:443
/PRNewswire/ -- Netskope, the SASE leader, today revealed new research showing a significant breakdown in collaboration between two of the central components...
Netskope
April 26, 2021
www.prnewswire.com:443
/PRNewswire/ -- Netskope, the leading security cloud, today announced the continued expansion of the Netskope NewEdge network across the Asia-Pacific region....
Annie Siebert
April 26, 2021
TechCrunch
Many studies claim that millions of jobs are going unfilled because there aren't enough qualified candidates available for hire. I don't buy it.
Netskope
January 19, 2021
www.prnewswire.com:443
/PRNewswire/ -- Netskope, the leading security cloud, today announced the expansion of the Netskope NewEdge network to a new data center in Singapore. Serving...
Netskope
December 14, 2020
www.prnewswire.com:443
/PRNewswire/ -- Netskope, the leading security cloud, today announced that Gartner, Inc. has recognized the company as a Visionary in the 2020 "Magic Quadrant...
Jeff Elder
December 8, 2020
Business Insider
A pipeline of cybersecurity startups may be lining up to go public in 2021, according to PitchBook, including Netskope, Snyk, Darktrace, and BioCatch.
Aaron Holmes, Jeff Elder and Maddy Simpson
December 5, 2020
Business Insider
An analysis of newly-released federal pay data reveals salaries at 24 major cybersecurity companies, many of which are still hiring aggressively.
Jeff Elder and Aaron Holmes
November 29, 2020
Business Insider
50 cybersecurity leaders that shaped 2020, including executives from Cloudflare, Okta, Microsoft, and Zscaler.
Netskope
November 17, 2020
www.prnewswire.com:443
/PRNewswire/ -- Netskope, the leading security cloud, today announced the expansion of the Netskope NewEdge network with a new data center in Seoul, South...
Ron Miller
February 6, 2020
TechCrunch
Netskope has always focused its particular flavor of security on the cloud, and as more workloads have moved there, it has certainly worked in its favor. Today the company announced a $340 million investment on a valuation of nearly $3 billion. Sequoia Capital Global Equities led the round, but in a round this large, there [...]
Zack Whittaker
October 29, 2019
TechCrunch
There are two types of enterprise startups: those that create value and those that protect value. Cybersecurity is most definitely part of the latter group, and as a vertical, it has sprawled the past few years as the scale of attacks on companies, organizations, and governments has continuously expanded. That may be a constant threat [...]

References

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