As enterprises transform their legacy IT infrastructure and move applications and data to the cloud, security needs to transform as well. Netskope will continue to aggressively expand both its platform and go-to market amidst its hypergrowth to meet the strong demand for its market-leading Secure Access Service Edge (SASE) architecture.Ĭybercrime is increasing at an alarming rate. Following this significantly oversubscribed investment round, Netskope has achieved a post-money valuation of $7.5 billion.Ĭontinued investment in Netskope from premier investors further validates the company's exceptional team, vision, track record of strong global execution, and opportunity to continue its rapid gaining of share in the fast-growing CAGR market which analysts estimate to be a $30 billion total addressable market by 2024, with cloud security CAGR growth estimated to exceed 30% over the next several years.
Also participating in this latest funding round were all other major existing Netskope investors, including Lightspeed Venture Partners, Accel, Sequoia Capital Global Equities, Base Partners, Sapphire Ventures, and Geodesic Capital. Our brand awareness has been growing increasingly, but it is our path to be a public company in the future", said the entrepreneur, adding he is yet to decide whether to list on Nasdaq or NYSE: "It will be whichever has the largest implementation of Netskope".SANTA CLARA, Calif., J/PRNewswire/ - Netskope, the SASE leader, today announced that the company has closed a new $300 million investment round led by existing investor ICONIQ Growth. "The reality is that we could go public today, however we don't need to do that for capital reasons. The executive noted this is the firm's last private investment round and that an IPO is well on the horizon.
So we partner with them to find out where that data is, protect it and enable the company to continue to work remotely and digitally transform", the executive said, adding the subject has become particularly relevant in Brazil given the introduction of the general data protection regulations, which have been introduced in September 2020 with sanctions applicable from next month.įrom a broader business perspective, Beri will be working towards his goal of building "the most impactful cybersecurity company in the world". " in Latin America have told me the attackers know where their sensitive data is better than they do. In a context where rising cybersecurity concerns coexist with imperatives around digital transformation, remote working and ramping up cloud - nearly three quarters of Latin companies will adopt the off-premises model in 2021, according to analyst firm IDC - the scope of opportunities is vast, Beri noted. More than half of Brazilian companies frequently suffer cyberattacks, according to research published in June by polling firm Datafolha commissioned by Mastercard. A couple of months earlier, the Brazilian Superior Electoral Court suffered the most severe cyberattack ever orchestrated against a public sector institution in the country. In January, the largest data leakage in Brazilian history became known, with sensitive data from 223 Brazilians including deceased individuals exposed. Over the last few months, Latin markets such as Brazil witnessed the emergence of some of the most significant cybersecurity incidents on record. Clients in the region include ten of the largest financial institutions, the firm said, as well as three of the five largest telecommunications providers, and three of the five most significant Latin retailers.
To meet the demand, the company launched datacenters in São Paulo, Buenos Aires, Santiago and Bogota, and expanded operations in Brazil and Mexico with new offices in Monterrey and Brasília. The Netskope user base in Latin America has increased 220% in the past 18 months, the company noted.
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