Netskope Gets $340 Million for Security Cloud

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Netskope, a real-time data and threat protection security cloud, closed on a $340 million investment round.

The funding was provided by Sequoia Capital Global Equities, the first investment for this firm. Other new investors are Canada Pension Plan Investment Board and PSP Investments. These new investors join older investors Lightspeed Venture Partners, Accel, Base Partners , ICONIQ Capital, Geodesic Capital, Social Capital and Sapphire Ventures.

Thanks to this new funding round, Netskope now has a valuation at $3 billion.

“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, in a statement. “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 says the additional investment is a strong indicator of the demand for its Netskope Security Cloud Platform. It reports an 80% year-over-year growth in enterprise customers.

The Netskope Security Cloud provides transparency and real-time data and threat protection when accessing cloud services, websites, and private apps from anywhere, regardless of device used. Netskope responds to 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 was founded in 2012.

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