Salem Radio Network News Tuesday, August 3, 2021


Cloud security firm Netskope raises fresh capital at $7.5 billion valuation

(Reuters) -Netskope was valued at $7.5 billion after it raised $300 million in a funding round led by existing investor ICONIQ Growth, the cloud security firm said on Friday.

Other major existing investors of Netskope, including Lightspeed Venture Partners, Accel, Sequoia Capital Global Equities, Base Partners, Sapphire Ventures and Geodesic Capital, also participated in the funding round.

Netskope had raised $340 million in a late-stage funding round led by Sequoia Capital Global Equities in February last year, which valued the company at $3 billion.

The company was founded by engineers who had previously worked at security and networking companies such as Palo Alto Networks, Juniper Networks, Cisco and VMware, its website showed.

Netskope’s platform provides protection from threats while accessing cloud services and websites. It has more than 40 patents and over 1,000 employees.

Some of its high profile customers include Gilead Sciences, Cleveland Clinic, Levi Strauss & Co and Allen & Co.

(Reporting by Sohini Podder in Bengaluru; Editing by Aditya Soni and Krishna Chandra Eluri)


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