![]() ![]() ![]() This likely means Netskope is in a good place in terms of revenue and growth, which should set up well for an IPO. They were also around long before SASE gained popularity.Ī $7.5 billion valuation is also much higher than many cybersecurity companies who have already gone public. Their products are relatively diversified compared to other companies focused on Zero Trust. Netskope may have even more of a bull case because they essentially own the CASB market. Similar to Appgate and Illumio, Netskope should ride the popularity of Zero Trust to an IPO. No public statements about an IPO have been made, but journalists have speculated the most recent round of funding was its last as a private company. Have they stated an intention to go public? Netskope was valued at $7.5 billion as of their latest round of funding. The most recent round was $300 million in July 2021. The company has raised $1 billion over 12 funding rounds, according to Crunchbase. Netskope generally fits into the Cloud Security domain with products spanning multiple areas of Zero Trust. Where do they fit into the cybersecurity ecosystem? Netskope has been a consistent Leader in Gartner's Magic Quadrant for CASB and has ranked consistently high in adjacent domains. Analyst reports for this space are a moving target. The company was first known for its Cloud Access Security Broker (CASB) product and has since expanded into other areas of Zero Trust. Netskope is perhaps the largest and most well known company to focus on the space. SASE ("sassy") is a new cloud-centric networking model coined by Gartner in 2019. The platform includes multiple products within cloud security, including a Cloud Access Security Broker (CASB), Secure Web Gateway (SWG), and more. Netskope has built a comprehensive Zero Trust platform that has become the leader in Secure Access Service Edge (SASE). This article covers the remaining six of twelve total companies who have the potential to go public this year. Their story is so unique that I'm planning to do a full article and cover them in much more detail. Most of those years were bootstrapped until a recent burst of huge funding rounds. The company has grown steadily over the course of 17 years (!!!). I chose not to include 1Password in this week's analysis because they've taken such a unique path to reach the point they're at now. Their valuation puts them squarely into the IPO pipeline based on comparable valuations for other companies in the pipeline and ones who have recently gone public. Last week, 1Password announced a new $620 million round of funding that values the company at $6.8 billion. ![]()
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