Netskope, a leader in secure access service edge (SASE), announced an oversubscribed investment round of $401 million. The partners for this convertible note investment were four of the world’s premier investors. The financing was led by investment funds managed by Morgan Stanley Tactical Value, with participation from Goldman Sachs Asset Management, Ontario Teachers’ Pension Plan and CPP Investments.
Netskope plans to extend its technology and platform advantages and market reach through innovative worldwide platform development and expansion of strategic go-to-market activities, underscoring its momentum in what analysts estimate to be the $36 billion market opportunity for SASE by 2025.
As hybrid and remote work has become the new reality, and the use of the cloud accelerates, enterprises need to transform their network and data security strategy and architecture. As a result, they are adopting SASE as a foundational part of their zero trust strategy, to safeguard data, support digital transformation efforts and realize better efficiency by addressing security and networking challenges through a unified architecture.
The Netskope converged SASE platform includes Netskope’s Intelligent Security Service Edge (SSE) and Borderless SD-WAN technologies, which are crucial to providing the optimized access and zero trust-based security required in a modern networking and security technology stack.
Netskope is one of a few providers of single-vendor SASE. It also is recognized as a representative vendor in the 2022 Gartner Market Guide to Single Vendor SASE that appears as a Leader in the 2022 Gartner Magic Quadrant for Security Service Edge.
“Our vision from day one was that traditional network and security perimeters would transform, with users, data, and devices moving outside the confines of corporate network perimeters and requiring a new approach to security,” said Sanjay Beri, Netskope CEO and co-founder. “With a cloud-first, data-first, and customer-centric philosophy, we built a market-leading SASE platform and one of the world’s fastest and most-connected security cloud networks. We have enabled enterprises everywhere to allow their users to be mobile, efficient, and flexible while securing them and the data and applications they access, whether they are in the cloud, on the web, or are private applications on-prem and beyond. We are very proud of the team members, customers, industry luminaries, and existing and new partners announced today who are helping to enable Netskope’s journey and secure the journey of all enterprises worldwide.”
