SANTA CLARA, Calif., Jan. 5, 2023 /PRNewswire/ — Netskope, a frontrunner in Safe Entry Service Edge (SASE), on the heels of its recognition as Cloud Safety Providers Vendor of the 12 months, its sixth straight rating on the Forbes Cloud 100 listing of prime cloud firms, and its recognition as a Chief within the 2022 Gartner® Magic Quadrant™ for Safety Service Edge (SSE), as we speak introduced an oversubscribed funding spherical of $401M.
The companions for this oversubscribed convertible word funding have been 4 of the world’s premier traders. The financing was led by funding funds managed by Morgan Stanley Tactical Worth, with participation from Goldman Sachs Asset Administration, Ontario Lecturers’ Pension Plan, and CPP Investments. Netskope plans to increase its know-how and platform benefits and market attain by way of continued modern worldwide platform improvement and enlargement of strategic go-to-market actions, underscoring its management and momentum in what main analysts estimate to be the $36 billion market alternative for SASE by 2025.
This financing marks the newest amongst many latest enterprise and monetary milestones for Netskope and serves as one other robust validation and indicator of the continued momentum and adoption of the corporate’s imaginative and prescient, workforce, merchandise, tradition, and market alternative.
Securing Fashionable Cloud Networks
As hybrid and distant work has grow to be the brand new actuality, and using the cloud accelerates, enterprises of all sizes want to remodel their community and knowledge safety technique and structure. In consequence, they’re quickly adopting SASE as a foundational a part of their zero belief technique, to safeguard knowledge, assist digital transformation efforts, and understand higher effectivity by addressing safety and networking challenges by way of a unified structure. As well as, enterprises are more and more searching for SASE capabilities from fewer sources to scale back vendor and power sprawl. Gartner notes1 that, “by 2025, 65% of enterprises could have consolidated particular person SASE parts into one or two explicitly partnered SASE distributors, up from 15% in 2021.”
The Netskope converged SASE platform contains Netskope’s industry-leading Clever Safety Service Edge (SSE) and Borderless SD-WAN applied sciences, all of that are essential to offering the optimized entry and nil trust-based safety required in a contemporary networking and safety know-how stack. Netskope as we speak is one in all only some suppliers of single-vendor SASE. It’s also the one SASE supplier acknowledged as a consultant vendor within the 2022 Gartner Market Information to Single Vendor SASE that additionally seems as a Chief within the 2022 Gartner Magic Quadrant for Safety Service Edge.
“Our imaginative and prescient from day one was that conventional community and safety perimeters would rework, with customers, knowledge, and gadgets transferring outdoors the confines of company community perimeters and requiring a brand new method to safety,” mentioned Sanjay Beri, Netskope CEO and co-founder. “With a cloud-first, data-first, and customer-centric philosophy, we constructed a market-leading SASE platform and one of many world’s quickest and most-connected safety cloud networks. We have now enabled enterprises in all places to permit their customers to be cell, environment friendly, and versatile whereas securing them and the info and functions they entry, whether or not they’re within the cloud, on the net, or are non-public functions on-prem and past. We’re very pleased with the workforce members, prospects, {industry} luminaries, and current and new companions introduced as we speak who’re serving to to allow Netskope’s journey and safe the journey of all enterprises worldwide.”
Over the previous 12 months, Netskope has broadened its market attain within the following methods:
- Elevated Buyer Base – to greater than 2,400 complete prospects worldwide, together with over 25 of the Fortune 100, and throughout all verticals together with monetary providers, healthcare, retail, telecommunications, manufacturing, authorities, excessive tech, and past.
- Expanded SASE Platform – by way of natural improvement of recent endpoint knowledge loss prevention, superior cloud firewall, and zero belief community entry merchandise, in addition to strategic acquisitions of WootCloud and Infiot to function core know-how parts of Netskope’s modern IoT Safety and Borderless SD-WAN modules, respectively.
- Rising Patent Portfolio – greater than 100 world patents awarded to Netskope inventors, in knowledge loss prevention, AI/ML, menace prevention, excessive pace cloud networking, and different strategic know-how classes.
- Continued Growth of NewEdge safety non-public cloud – now powered by full-compute knowledge facilities in additional than 60 areas worldwide. Each Netskope NewEdge knowledge middle is accessible to each buyer, with all Netskope SASE providers obtainable, offering low latency and high-performing infrastructure, and backed by industry-leading Service Degree Agreements.
- New and Enhanced Go-to-Market Partnerships – with among the world’s best-known cloud platform, service supplier and methods integrator manufacturers, together with Orange, Deloitte, Telefonica, KPN, AWS, Google Cloud, CrowdStrike, Mimecast, Okta, and others which develop Netskope’s world attain and talent to seize market share.
- Elevated Company Footprint – to greater than 2,500 workforce members, lively in over 40 international locations, with open roles throughout groups and areas. In 2022, Netskope additionally enhanced its seasoned government workforce with leaders from Salesforce, AWS, Cisco, Palo Alto Networks and others becoming a member of Netskope.
- Trade Recognition: Latest Netskope highlights additionally embrace product, buyer, and {industry} recognition, together with:
“Cloud migration—and securing this contemporary community—represents probably the most vital and transformative know-how shifts in many years,” mentioned Pedro Teixeira, managing director of Morgan Stanley and Co-Head of Morgan Stanley’s Tactical Worth Investing Staff. “We search to put money into high-quality firms which can be driving their markets as we speak and into the long run. Netskope epitomizes this, with its modern SASE imaginative and prescient and strong execution, a sturdy platform with vital monetization forward of it, a big world buyer base, and defensible market management. We stay up for partnering with the workforce as they attempt to comprehend the numerous alternative that lies forward.”
Authorized Notices
Morgan Stanley & Co. LLC served as the only placement agent for the word providing. Pillsbury Winthrop Shaw Pittman LLP served as Netskope’s authorized counsel and Latham & Watkins LLP served as Morgan Stanley Tactical Worth’s counsel. J Wooden Capital Advisors LLC acted as monetary advisor to Netskope.
This press launch doesn’t represent a proposal to promote, or a solicitation of a proposal to purchase, any securities of Netskope. The securities referenced herein haven’t been registered beneath the Securities Act of 1933, as amended, and might not be supplied or bought in the US absent registration or an relevant exemption from such registration necessities.
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About Netskope
Netskope, a worldwide SASE chief, is redefining cloud, knowledge, and community safety to assist organizations apply zero belief rules to guard knowledge. Quick and simple to make use of, the Netskope platform gives optimized entry and real-time safety for individuals, gadgets, and knowledge anyplace they go. Netskope helps prospects scale back danger, speed up efficiency, and get unmatched visibility into any cloud, net, and personal utility exercise. 1000’s of shoppers, together with greater than 25 of the Fortune 100, belief Netskope and its highly effective NewEdge community to handle evolving threats, new dangers, know-how shifts, organizational and community adjustments, and new regulatory necessities. Learn the way Netskope helps prospects be prepared for something on their SASE journey, go to netskope.com.
