Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cloud Security

Cloud Security Firm Netskope Raises $100 Million

Netskope, a player in the cloud access security broker (CASB) market, announced on Tuesday that it has raised $100 million through an oversubscribed Series E funding round.

The investment brings the total raised by the Los Altos, California-based company to $231.4 million.

Netskope, a player in the cloud access security broker (CASB) market, announced on Tuesday that it has raised $100 million through an oversubscribed Series E funding round.

The investment brings the total raised by the Los Altos, California-based company to $231.4 million.

According to the company, the investment will fuel the advancement and go-to-market of its enterprise cloud security platform, which helps companies manage the security challenges introduced through the adoption of cloud services.  

Netskope fundingThe company explains that its “Netskope Active Platform” was designed to provide context-aware governance of all cloud usage in the enterprise in real-time, whether accessed from the corporate network, remote, or from a mobile device.  

“When we founded Netskope, we knew that the far-reaching impact of the cloud would require a fundamentally new approach to security. We started with CASB and now we’re expanding our cloud security platform to take on additional challenges,” Sanjay Beri, founder and CEO of Netskope, said in a statement.  

Since the company launched in October 2013 it has grown its global employee headcount to more than 350.

The Series E round was led by existing investors Lightspeed Venture Partners and Accel. Previous investors Social Capital and Iconiq Capital also participated in the round, aling with new investors Sapphire Ventures and Geodesic Capital, the company said.

CASBs, which provide security and visibility for companies moving to the cloud, have experienced rapid growth, with several players in the space being acquired by larger enterprise technology firms.

In June 2016, Cisco announced its intention to acquire CloudLock, a privately held cloud CASB based in Waltham, Massachusetts for $293 million in cash and assumed equity awards. In 2015, Microsoft bought Adallom and turned it into its Cloud App Security service launched in April 2016. In 2014 Imperva bought Skyfence; in 2015, Palo Alto Networks bought CirroSecure; and in November 2015 Blue Coat (since acquired by Symantec) bought Elastica. In September 2016, Oracle acquired Palerra for an undisclosed amound. In February 2017, Forcepoint acquired Skyfence from Imperva.

Written By

For more than 10 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.

Click to comment

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join this webinar to learn best practices that organizations can use to improve both their resilience to new threats and their response times to incidents.

Register

Join this live webinar as we explore the potential security threats that can arise when third parties are granted access to a sensitive data or systems.

Register

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Cloud Security

Microsoft and Proofpoint are warning organizations that use cloud services about a recent consent phishing attack that abused Microsoft’s ‘verified publisher’ status.

Cybersecurity Funding

SecurityWeek investigates how political/economic conditions will affect venture capital funding for cybersecurity firms during 2023.

Cloud Security

VMware vRealize Log Insight vulnerability allows an unauthenticated attacker to take full control of a target system.

Funding/M&A

Twenty-one cybersecurity-related M&A deals were announced in December 2022.

Funding/M&A

More than 450 cybersecurity-related mergers and acquisitions were announced in 2022, according to an analysis conducted by SecurityWeek

Application Security

A CSRF vulnerability in the source control management (SCM) service Kudu could be exploited to achieve remote code execution in multiple Azure services.

Funding/M&A

Forty cybersecurity-related M&A deals were announced in January 2023.