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Cloud Security Firm Netskope Raises $168.7 Million

Cloud security firm Netskope on Tuesday announced that it has raised $168.7 million in a Series F funding round, which brings the total raised by the company to date to over $400 million.

The latest funding round was led by Lightspeed Venture Partners with participation from Accel, Geodesic Capital, Iconiq Capital, Sapphire Ventures, Social Capital, and Base Partners, which is the only new investor.

Netskope says it will use the new funds to expand R&D and the global data center of its enterprise security cloud platform.Netskope raises $168 million

Founded in 2013, Netskope offers solutions designed to help organizations manage risk, protect data, and block threats by providing full visibility and control, data loss prevention (DLP), and threat protection capabilities for their web, SaaS, and IaaS assets.

Netskope recently opened a new headquarters and Santa Clara, California, as a result of a 50% increase in employee headcount. The company acquired Sift Security in July 2018.

“Simply put, without security transformation, digital transformation will fail,” said Sanjay Beri, founder and CEO of Netskope. “We have spent the last six years bringing the leading security cloud to enterprises to address this growing challenge as more and more companies embrace digital transformation. With this new round of funding, we are one step closer to helping all organizations match their security strategy with the pace of today’s cloud-first world.”

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Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.