Netskope Secures $75M Investment for Cloud Security

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Mainstream news outlets have extensively covered high profile hacks such as Target and most recently Ashley Madison. Because of this, decision makers have come to the realization that cloud security should be one of their companies top priorities.
Building a policy that both embraces cloud services while limiting their use within your environment can be a tough balancing act. With Netskope, organizations can begin auditing their cloud services access in order to gain actionable intelligence on what their end users using and doing in the cloud. This gives businesses a leg up on hackers, considering the fact that Netskope helps businesses enforce policies surrounding cloud services.
Netskope has just announced that it has received $75M in series D funding. Iconiq Capital led this round of investments, while firms such as Accel Partners, Lightspeed Venture Partners and others participated in this round. The $75M number is an increase over Netskope’s last round of funding, which gave the company $35M in investment capital in May of last year.
“We founded Netskope on the premise that rapid development and adoption of cloud apps and services would bring about a new security conundrum for IT that simply couldn’t be addressed by existing tools built for on-premises apps or generic websites,” says Sanjay Beri, CEO of Netskope.
“The explosive growth we’re experiencing is evidence that organizations need a solution that enables them to mitigate risk, prevent data loss, and govern usage in cloud apps beyond simply ‘allowing’ or ‘blocking’ the apps. We’re delighted that Iconiq has joined our team, and this investment will fuel our continuing efforts to help our customers safely migrate to and leverage the cloud,” Beri added.
As a leading cloud security broker, Netskope has risen to prominence by experiencing triple digit growth in revenue, number of customers and total head count.