Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Cloud

2/6/2020
05:00 PM
Dark Reading
Dark Reading
Products and Releases
50%
50%

Netskope Attracts $340 Million in Additional Investment Led by Sequoia Capital Global Equities

Fastest-growing SASE and cloud security company valued at nearly $3 billion, with unmatched global demand for its cloud-native network and data security platform

SANTA CLARA, Calif. – February 6, 2020 – Netskope, the leading security cloud, today announced that the company has closed a new $340 million investment led by new investor Sequoia Capital Global Equities. New investors Canada Pension Plan Investment Board and PSP Investments participated, as well as all existing investors including Lightspeed Venture Partners, Accel, Base Partners, ICONIQ Capital, Sapphire Ventures, Geodesic Capital and Social Capital. Following this investment, the company has achieved a valuation of nearly $3 billion. 

This additional investment by the world’s leading enterprise investors is yet another strong statement to the industry of the global demand for the award-winning Netskope Security Cloud Platform, the new standard for network and data security. With 80 percent year-over-year growth in enterprise customers, Netskope is the fastest-growing company at scale in the fastest-growing areas of cybersecurity – secure access service edge (SASE) and cloud security. Netskope’s explosive growth reflects enterprises’ rapid adoption of its cloud-driven security architecture to reach their digital transformation goals and upgrade their legacy and on-premises security solutions.

The Netskope Security Cloud provides unrivaled visibility and real-time data and threat protection when accessing cloud services, websites, and private apps from anywhere, on any device. No other company has addressed shifting market demands by combining next-generation secure web gateway (SWG) capabilities, zero trust secure access, advanced machine learning to detect unauthorized data exfiltration, and advanced threat protection to prevent cloud-based attacks that often evade legacy defenses. Netskope delivers all of this in one true cloud-based platform on the world’s largest, most performant, and most secure cloud network: NewEdge. In addition, only Netskope understands the cloud and takes a data-centric approach that empowers security teams with the right balance of protection and speed they need to secure their digital transformation journey.

Supporting Quotes 

“When we started Netskope in 2012, it was clear that the cloud was changing everything, but few saw how it would disrupt security,” said Sanjay Beri, CEO of Netskope. “Since inception, we have always focused on architecting a true cloud platform that, over time, will secure and govern all of an enterprise’s traffic as the perimeter evolves into a new high-performance worldwide cloud edge. This latest investment from the top enterprise and security investors in the world is proof of not only our enormous success in establishing Netskope as the new gold standard for cloud-delivered security, but also that the astounding level of global demand we’re seeing today is just the tip of the iceberg.”

“Netskope has become the unrivaled leader driving innovation across cloud, data and network security, which makes up the largest part of today’s security market,” said Patrick Fu, managing partner at Sequoia Capital Global Equities. “Netskope is raising the bar for game changers who are successfully pushing beyond the limitations of existing technology to reshape a market. Sanjay and the entire Netskope team are on an incredible trajectory, and we are thrilled to partner with this talented team for the long term.”

According to Gartner’s “The Future of Network Security Is in the Cloud,” published in August 2019, “Digital business transformation efforts, the adoption of SaaS and other cloud-based services, and emerging edge computing platforms have turned the enterprise network ‘inside out,’ inverting historical patterns.” The report states, “Instead of the security perimeter being entombed in a box at the data center edge, the perimeter is now everywhere an enterprise needs it to be – a dynamically created, policy-based secure access service edge (SASE).” *

Netskope 2019 Momentum Highlights

As the fastest-growing SASE company, Netskope has achieved remarkable business momentum in the last year, including: 

  • 80 percent year-over-year growth in number of customers, which includes 25 percent of the Fortune 100
  • Nearly 50 percent growth in employee headcount, with significant investments in engineering and sales
  • Expanded executive bench to include CFO Drew Del Matto, Chief Development Officer David Wu, and SVP Platform Engineering Joe DePalo 
  • Opened new worldwide offices in Paris, São Paulo, Seattle, New York, St. Louis, San Francisco, Tokyo and a new headquarters in Santa Clara 
  • Expanded internationally in Australia, Singapore, Chile, Colombia, Brazil, Mexico, Italy, Spain, and Germany
  • Named a Leader in the Gartner Magic Quadrant for Cloud Access Security Brokers (CASBs) for the third year in a row
  • Ranked among the Forbes Cloud 100 for the third year in a row, rising 25 spots from last year’s placement to #64

Netskope has also executed on numerous product innovations, including:

  • Launched NewEdge, the globally distributed network that enables the Netskope cloud-native security platform to deliver real-time security without compromising performance 
  • Released the industry’s only next-generation SWG solution that seamlessly consolidates inline cloud-native SWG, inline cloud-native CASB and Cloud DLP capabilities
  • Unveiled Netskope Private Access, a cloud-based service for secure access to private enterprise applications in both the public cloud and the data center
  • Opened 26 new data centers to allow Netskope to run on one of the world’s largest and fastest security networks NewEdge, enabling the Netskope cloud-native security platform to deliver real-time security without compromising performance

RSA Conference 2020

  • Netskope is a silver sponsor, exhibiting at booth #5981 in Moscone North. 
  • Sean Cordero, head of cloud strategy at Netskope, will speak on a panel about AI and ML threats on Tuesday, Feb. 25 at 3:40 p.m. PT in Moscone South. 
  • Netskope’s James Robinson and Ross Asquith will lead a briefing center speaking session on cloud-first security programs on Tuesday, Feb. 25 at 11:40 a.m. PT in Moscone North. 
  • RSVP to attend the Netskope Cloud Lounge party on Wednesday, Feb. 26 at Novela by contacting [email protected]. Space is limited. 
  • More details on Netskope’s RSA presence are available here: https://resources.netskope.com/cloud-security-events-conferences-expos/rsa-conference-2 

* Gartner, The Future of Network Security Is in the Cloud, Neil MacDonald, Lawrence Orans, Joe Skorupa, 30 August 2019.


About Netskope

The Netskope security cloud provides unrivaled visibility and real-time data and threat protection when accessing cloud services, websites, and private apps from anywhere, on any device. Only Netskope understands the cloud and delivers data-centric security from one of the world’s largest and fastest security networks, empowering the largest organizations in the world with the right balance of protection and speed they need to enable business velocity and secure their digital transformation journey. Reimagine your perimeter with Netskope.

About Sequoia Capital Global Equities

Sequoia helps daring founders build legendary companies from idea to IPO and beyond. Sequoia Capital Global Equities (SCGE) extends Sequoia’s efforts into the public/private crossover market. SCGE invests primarily in public and late-stage private companies, focusing on identifying disruptive technology themes and investing behind long-term winners in large markets undergoing secular disruption. In aggregate, Sequoia-backed companies account for more than 20% of NASDAQ’s total value.

Gartner Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

 

Recommended Reading:

Comment  | 
Print  | 
More Insights
Comments
Threaded  |  Newest First  |  Oldest First
COVID-19: Latest Security News & Commentary
Dark Reading Staff 7/9/2020
Omdia Research Launches Page on Dark Reading
Tim Wilson, Editor in Chief, Dark Reading 7/9/2020
Mobile App Fraud Jumped in Q1 as Attackers Pivot from Browsers
Jai Vijayan, Contributing Writer,  7/10/2020
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
Special Report: Computing's New Normal, a Dark Reading Perspective
This special report examines how IT security organizations have adapted to the "new normal" of computing and what the long-term effects will be. Read it and get a unique set of perspectives on issues ranging from new threats & vulnerabilities as a result of remote working to how enterprise security strategy will be affected long term.
Flash Poll
The Threat from the Internetand What Your Organization Can Do About It
The Threat from the Internetand What Your Organization Can Do About It
This report describes some of the latest attacks and threats emanating from the Internet, as well as advice and tips on how your organization can mitigate those threats before they affect your business. Download it today!
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-15105
PUBLISHED: 2020-07-10
Django Two-Factor Authentication before 1.12, stores the user's password in clear text in the user session (base64-encoded). The password is stored in the session when the user submits their username and password, and is removed once they complete authentication by entering a two-factor authenticati...
CVE-2020-11061
PUBLISHED: 2020-07-10
In Bareos Director less than or equal to 16.2.10, 17.2.9, 18.2.8, and 19.2.7, a heap overflow allows a malicious client to corrupt the director's memory via oversized digest strings sent during initialization of a verify job. Disabling verify jobs mitigates the problem. This issue is also patched in...
CVE-2020-4042
PUBLISHED: 2020-07-10
Bareos before version 19.2.8 and earlier allows a malicious client to communicate with the director without knowledge of the shared secret if the director allows client initiated connection and connects to the client itself. The malicious client can replay the Bareos director's cram-md5 challenge to...
CVE-2020-11081
PUBLISHED: 2020-07-10
osquery before version 4.4.0 enables a priviledge escalation vulnerability. If a Window system is configured with a PATH that contains a user-writable directory then a local user may write a zlib1.dll DLL, which osquery will attempt to load. Since osquery runs with elevated privileges this enables l...
CVE-2020-6114
PUBLISHED: 2020-07-10
An exploitable SQL injection vulnerability exists in the Admin Reports functionality of Glacies IceHRM v26.6.0.OS (Commit bb274de1751ffb9d09482fd2538f9950a94c510a) . A specially crafted HTTP request can cause SQL injection. An attacker can make an authenticated HTTP request to trigger this vulnerabi...