Netskope company was founded in 2012 and deals with software development. The companyʼs products are applied in the area of cyber security and have the form of cloud solutions used for protecting against threats in the cloud infrastructure.
Netskope cloud security platform is aimed at providing protection against hacking, data loss, viruses and other threats. Protection is provided in real time using cloud services, such as Microsoft Azure, Google Cloud, Amazon AWS and others. The Netskope product has been recognized by Gartner company as the leading one in its field.
Since its inception, the company has raised around $740M from such investors as Sequoia Capital, Alpha Square Group, Base Partners, Geodesic Capital, Sapphire Ventures, ICONIQ Capital, Accel, Lightspeed Venture Partners and Social Capital.
When Netskope announced about new investments of $168.7M at the end of 2018, the company was assessed at about $1Bn. However, after attracting $340M of investments in February 2020, the company valuation grew up to almost $3Bn. Before the IPO, Netskope has shown an average annual growth of 80%, which is an excellent indicator.
Since the companyʼs inception, there has been no news about IPO until 2020. In the interview with TechCrunch dated February 2020, the companyʼs CEO said the following: "IPO is certainly possible but we are not in a hurry and now we donʼt need additional capital." There has been no more information from the companyʼs officials about the coming Netskope IPO. But everything can change at any moment, thatʼs why investors are looking forward to the companyʼs IPO.
According to Verified Market Research, the global data protection market was assessed at $62.82Bn in 2018. According to the forecasts, it will reach $198.59Bn by 2026, increasing by 15.55% in 2019-2026. The market is growing thanks to further spread of digital technologies as well as to companiesʼ transition to cloud technologies and cloud products. As one of the leaders in cloud security, Netskope has impressive growth prospects.
