Total amount raised
$1.2 Billion
Latest funding date
1/1/2023
Location
Netskope has successfully raised significant funding across multiple rounds, attracting notable investors such as Goldman Sachs Asset Management and Morgan Stanley. The company's innovative approach to real-time security and data protection has garnered substantial financial backing.
Keep reading to explore the intricacies of Netskope's fundraising journey and the investors supporting this cutting-edge platform.
What Is Netskope?
Netskope, founded on October 8, 2012, in Santa Clara, California, is a leader in cloud security and networking solutions. The company specializes in real-time security, threat prevention, data protection, and network management services.
Founded by Krishna Narayanaswamy, Lebin Cheng, Ravi Ithal, and Sanjay Beri, Netskope connects users to the internet, applications, and infrastructure securely and efficiently. Their global security private cloud offers comprehensive computation capabilities at the edge.
With a workforce of 1001-5000 employees, Netskope continues to innovate in the Secure Access Service Edge (SASE) and Security Service Edge (SSE) domains, promoting good digital citizenship and reducing the total cost of ownership.
How Much Funding Has Netskope Raised?
- Series C
- Amount Raised: $35M
- Date: May 2014
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand market reach.
- Series D
- Amount Raised: $75M
- Date: September 2015
- Lead Investors: ICONIQ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series E
- Amount Raised: $100M
- Date: June 2017
- Lead Investors: Accel, Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support global expansion and increase R&D efforts.
- Series F
- Amount Raised: $168.7M
- Date: November 2018
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and expand market presence.
- Series G
- Amount Raised: $340M
- Date: February 2020
- Lead Investors: Sequoia Capital Global Equities
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the SASE platform and expand strategic go-to-market activities.
- Venture Round
- Amount Raised: $300M
- Date: July 2021
- Lead Investors: ICONIQ Growth
- Valuation at Round: $7.5 billion
- Motivation Behind the Round: To support growth and increase valuation.
- Convertible Note
- Amount Raised: $401M
- Date: January 2023
- Lead Investors: Morgan Stanley
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and support strategic go-to-market activity expansion.
Total Amount Raised: $1.4197 billion. Current Valuation: $7.5 billion.
Key Investors
- Morgan Stanley Tactical Value
- Details: Morgan Stanley Tactical Value is a division of Morgan Stanley focusing on tactical investment opportunities. They often engage in convertible notes and other structured equity solutions.
- Investment Focus Areas: Tactical investments, structured equity, strategic financial instruments.
- Notable Investments: Various tactical investments across different sectors.
- Goldman Sachs Asset Management
- Details: Goldman Sachs Asset Management is the investment management arm of Goldman Sachs, providing investment and advisory services globally. They manage a wide range of investment strategies across various asset classes.
- Investment Focus Areas: Equities, fixed income, alternative investments.
- Notable Investments: Investments in technology, healthcare, financial services.
- ICONIQ Growth
- Details: ICONIQ Growth is a growth equity firm that invests in technology companies with high growth potential. They focus on partnering with visionary entrepreneurs to build enduring businesses.
- Investment Focus Areas: Technology, high-growth companies.
- Notable Investments: USD 300 million investment in Netskope in 2021.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a venture capital firm focusing on early and growth-stage investments in technology and consumer sectors. They have a global presence and a strong track record of successful investments.
- Investment Focus Areas: Technology, consumer sectors, early and growth-stage companies.
- Notable Investments: Not specified in the provided sources.
- Sequoia Capital Global Equities
- Details: Sequoia Capital Global Equities is the global investment arm of Sequoia Capital, focusing on public and private companies. They are known for their strategic investments in transformative technology companies.
- Investment Focus Areas: Public and private technology companies.
- Notable Investments: Not specified in the provided sources.
What's Next for Netskope?
Netskope stands at the cusp of significant growth opportunities, driven by the increasing demand for cloud security solutions. With a recent $401 million funding round, the company is well-positioned to expand its SASE platform, enhance technological capabilities, and enter new global markets. The SASE market, predicted to reach $36 billion by 2025, offers a vast landscape for Netskope to capture a larger share.
Future fundraising opportunities appear promising, with potential for an IPO on the horizon. The convertible notes from the latest funding round suggest that Netskope is preparing for a public offering, which could provide additional capital for further expansion and innovation. However, the company must navigate challenges such as maintaining market leadership amidst fierce competition and integrating new technologies seamlessly.
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