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Netskope Attracts $340 Million in Additional Investment Led by Sequoia Capital Global Equities
Fastest-growing SASE and cloud security company valued at nearly $3 billion, with unmatched global demand for its cloud-native network and data security platform
February 7, 2020
6 Min Read
PRESS RELEASE
SANTA CLARA, Calif. – February 6, 2020 – Netskope, the leading security cloud, today announced that the company has closed a new $340 million investment led by new investor Sequoia Capital Global Equities. New investors Canada Pension Plan Investment Board and PSP Investments participated, as well as all existing investors including Lightspeed Venture Partners, Accel, Base Partners, ICONIQ Capital, Sapphire Ventures, Geodesic Capital and Social Capital. Following this investment, the company has achieved a valuation of nearly $3 billion.
This additional investment by the world’s leading enterprise investors is yet another strong statement to the industry of the global demand for the award-winning Netskope Security Cloud Platform, the new standard for network and data security. With 80 percent year-over-year growth in enterprise customers, Netskope is the fastest-growing company at scale in the fastest-growing areas of cybersecurity – secure access service edge (SASE) and cloud security. Netskope’s explosive growth reflects enterprises’ rapid adoption of its cloud-driven security architecture to reach their digital transformation goals and upgrade their legacy and on-premises security solutions.
The Netskope Security Cloud provides unrivaled visibility and real-time data and threat protection when accessing cloud services, websites, and private apps from anywhere, on any device. No other company has addressed 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 delivers all of this in one true cloud-based platform on the world’s largest, most performant, and most secure cloud network: NewEdge. In addition, only Netskope understands the cloud and takes a data-centric approach that empowers security teams with the right balance of protection and speed they need to secure their digital transformation journey.
Supporting Quotes
“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. “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 has become the unrivaled leader driving innovation across cloud, data and network security, which makes up the largest part of today’s security market,” said Patrick Fu, managing partner at Sequoia Capital Global Equities. “Netskope is raising the bar for game changers who are successfully pushing beyond the limitations of existing technology to reshape a market. Sanjay and the entire Netskope team are on an incredible trajectory, and we are thrilled to partner with this talented team for the long term.”
According to Gartner’s “The Future of Network Security Is in the Cloud,” published in August 2019, “Digital business transformation efforts, the adoption of SaaS and other cloud-based services, and emerging edge computing platforms have turned the enterprise network ‘inside out,’ inverting historical patterns.” The report states, “Instead of the security perimeter being entombed in a box at the data center edge, the perimeter is now everywhere an enterprise needs it to be – a dynamically created, policy-based secure access service edge (SASE).” *
Netskope 2019 Momentum Highlights
As the fastest-growing SASE company, Netskope has achieved remarkable business momentum in the last year, including:
80 percent year-over-year growth in number of customers, which includes 25 percent of the Fortune 100
Nearly 50 percent growth in employee headcount, with significant investments in engineering and sales
Expanded executive bench to include CFO Drew Del Matto, Chief Development Officer David Wu, and SVP Platform Engineering Joe DePalo
Opened new worldwide offices in Paris, São Paulo, Seattle, New York, St. Louis, San Francisco, Tokyo and a new headquarters in Santa Clara
Expanded internationally in Australia, Singapore, Chile, Colombia, Brazil, Mexico, Italy, Spain, and Germany
Named a Leader in the Gartner Magic Quadrant for Cloud Access Security Brokers (CASBs) for the third year in a row
Ranked among the Forbes Cloud 100 for the third year in a row, rising 25 spots from last year’s placement to #64
Netskope has also executed on numerous product innovations, including:
Launched NewEdge, the globally distributed network that enables the Netskope cloud-native security platform to deliver real-time security without compromising performance
Released the industry’s only next-generation SWG solution that seamlessly consolidates inline cloud-native SWG, inline cloud-native CASB and Cloud DLP capabilities
Unveiled Netskope Private Access, a cloud-based service for secure access to private enterprise applications in both the public cloud and the data center
Opened 26 new data centers to allow Netskope to run on one of the world’s largest and fastest security networks NewEdge, enabling the Netskope cloud-native security platform to deliver real-time security without compromising performance
RSA Conference 2020
Netskope is a silver sponsor, exhibiting at booth #5981 in Moscone North.
Sean Cordero, head of cloud strategy at Netskope, will speak on a panel about AI and ML threats on Tuesday, Feb. 25 at 3:40 p.m. PT in Moscone South.
Netskope’s James Robinson and Ross Asquith will lead a briefing center speaking session on cloud-first security programs on Tuesday, Feb. 25 at 11:40 a.m. PT in Moscone North.
RSVP to attend the Netskope Cloud Lounge party on Wednesday, Feb. 26 at Novela by contacting [email protected]. Space is limited.
More details on Netskope’s RSA presence are available here: https://resources.netskope.com/cloud-security-events-conferences-expos/rsa-conference-2
* Gartner, The Future of Network Security Is in the Cloud, Neil MacDonald, Lawrence Orans, Joe Skorupa, 30 August 2019.
About Netskope
The Netskope security cloud provides unrivaled visibility and real-time data and threat protection when accessing cloud services, websites, and private apps from anywhere, on any device. Only Netskope understands the cloud and delivers data-centric security from one of the world’s largest and fastest security networks, empowering the largest organizations in the world with the right balance of protection and speed they need to enable business velocity and secure their digital transformation journey. Reimagine your perimeter with Netskope.
About Sequoia Capital Global Equities
Sequoia helps daring founders build legendary companies from idea to IPO and beyond. Sequoia Capital Global Equities (SCGE) extends Sequoia’s efforts into the public/private crossover market. SCGE invests primarily in public and late-stage private companies, focusing on identifying disruptive technology themes and investing behind long-term winners in large markets undergoing secular disruption. In aggregate, Sequoia-backed companies account for more than 20% of NASDAQ’s total value.
Gartner Disclaimer
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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