This is in line with the rapidly expanding data protection as a service market, projected to reach 63 billion USD by 2027, reflecting a CAGR of 19.8% from 2021 to 2027.įurther, Netskope’s reputation as a cybersecurity service provider has been solidified with an impressive line-up of investors:ĬEO Beri’s additional comments to TechCrunch provide insight hinting at a 2024 IPO date, which for Netskope seems to be turning into a major checkpoint year.
IPOs are unlikely to occur during a prolonged bear market.Īfter its July 2021 funding round, Netskope’s valuation stood at an impressive 7.5 billion USD, a 150% increase over its last funding round in February 2020. This estimation could change under the status of S&P 500’s current bear market. In this article, we will help clarify all the information about the Netskope IPO: its date, how to buy Netskope’s IPO, and the stock itself.ĭue to market conditions and Netskope’s strong balance sheet, a reasonable estimation is 2024. The latter exchange, in particular, caters to technology-focused investors who may want to invest in Netskope’s IPO. Likely, its IPO will list on the New York Stock Exchange (NYSE) or Nasdaq exchange. Major investors of Netskope include Sequoia Capital, ICONIQl, Accel, and Lightspeed Venture partners. This followed their 300 million USD July 2021 funding round, which gave them a 7.5 billion USD valuation, or more than double their previous 3 billion USD valuation. “Beri said the company just completed a “three-year journey building the largest cloud network that is 15 milliseconds from anyone in the world,” and intends to invest the new funds into continued R&D, expanding its platform and Netskope’s go-to-market strategy to meet demand for a market it estimated would be valued at $30 billion by 2024” (our emphasis). “Going public is one day on our path, but you probably won’t see us raise another private round,” Beri said.An official date for the Netskope IPO remains to be announced, yet it’s possible to happen by 2024 following comments from Netskope’s CEO Sanjay Beri in a 2021 interview with TechCrunch:
Beri admits that Netskope could be public now, though it doesn’t have to do it for the traditional reasons of raising capital or marketing.
With the company racking up that kind of capital, the next natural step would be to become a public company. Today’s investment brings the total raised by Santa Clara-based Netskope to just over $1 billion, according to Crunchbase data. We are fortunate to be in that situation, and our destination is to be the most impactful cybersecurity company in the world.īeri said the company just completed a “three-year journey building the largest cloud network that is 15 milliseconds from anyone in the world,” and intends to invest the new funds into continued R&D, expanding its platform and Netskope’s go-to-market strategy to meet demand for a market it estimated would be valued at $30 billion by 2024, he said.Įven pre-pandemic the company had strong hypergrowth over the past year, surpassing the market average annual growth of 50%, he added. “However, having a continued strong balance sheet isn’t a bad thing. “The reality is we could have raised $1 billion, but we don’t need more capital,” he added. Similar to other rounds, the company was not actively seeking new capital, but that it was “an inside round with people who know everything about us,” Beri said. Prior to that, it was a $168.7 million round at the end of 2018. With this new round, Netskope continues to rack up large rounds: it raised $340 million last February, which gave it a valuation of nearly $3 billion. “The theory is that digital transformation is inevitable, so our vision is to transform that market so people could do that, and that is what we are building nearly a decade later.” “What we had before in the market didn’t work for that world,” he said. Netskope co-founder and CEO Sanjay Beri told TechCrunch that since its founding in 2012, the company’s mission has been to guide companies through their digital transformation by finding what is most valuable to them - sensitive data - and protecting it. The oversubscribed insider investment was led by ICONIQ Growth, which was joined by other existing investors, including Lightspeed Venture Partners, Accel, Sequoia Capital Global Equities, Base Partners, Sapphire Ventures and Geodesic Capital. Netskope, focused on Secure Access Service Edge architecture, announced Friday a $300 million investment round on a post-money valuation of $7.5 billion.
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