Highlights:

  • Cloud security company Netskope Inc. announced that it has secured USD 401 million in convertible notes to enhance platform development and go-to-market efforts.
  • Netskope has expanded and strengthened its go-to-market partnerships with cloud platforms, service providers, and system integrators such as Orange S.A., Deloitte Touche Tohmatsu Ltd., Telefonica S.A., Amazon Web Services Inc., Google Cloud, CrowdStrike Holdings Inc., Mimecast Inc., and Okta Inc.

Cloud security company Netskope Inc. has secured funding of USD 401 million in convertible notes to enhance platform development and go-to-market efforts.

Morgan Stanley Tactical Value sponsored the convertible note offering, with participation from Goldman Sachs Asset Management, CPP Investments, and Ontario Teachers’ Pension Plan.

Netskope, a company founded in 2012, delivers a Secure Access Service Edge (SASE) platform that allows discovery, visibility, and granular management of both authorized and unauthorized cloud applications. Intelligent Security Service Edge is a unified cloud service meant to change perimeter security, allowing businesses to stay ahead of cloud, data, and network security threats.

The SASE platform from Netskope incorporates Borderless SD-WAN technology, which, in conjunction with the security service edge technology, is deemed essential for offering optimum access and zero-trust-based security in the current networking and security technology stack. The stack covers the transition to remote and hybrid work, which brings new risks to organizations of all sizes.

Netskope co-founder and Chief Executive Sanjay Beri said, “Our vision from day one was that traditional network and security perimeters would transform, with users, data, and devices moving outside the confines of corporate network perimeters and requiring a new approach to security. We have enabled enterprises everywhere to allow their users to be mobile, efficient, and flexible while securing them and the data and applications they access, whether in the cloud, on the web, or private applications on-prem and beyond.”

In the past year, Netskope has acquired over 2,400 new clients, including more than 25 Fortune 100 companies, in financial services, retail, healthcare, manufacturing, government, telecommunications, and high technology. The company has regularly released new solutions for endpoint data loss prevention, cloud firewall, and zero trust. It also acquired WootCloud Inc. in June and Infiot Inc. in August to strengthen its technological foundation.

Netskope has also expanded and strengthened its go-to-market partnerships with cloud platforms, service providers, and system integrators such as Google Cloud, Orange S.A., Telefonica S.A., Mimecast Inc., Deloitte Touche Tohmatsu Ltd., Amazon Web Services Inc., CrowdStrike Holdings Inc., and Okta Inc.

According to Crunchbase records, Netskope has been funded around USD 1.4 billion, including rounds of USD 300 million in July 2021 and USD 100 million in June 2017. Axevil Capital, Accel, Lightspeed Venture Partners, Sequoia Capital, and ICONIQ Growth are previous investors.