Netskope has raised new capital to expand the benefits of its technology.

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11:30 | 10 January 2023

Netskope has raised new capital to expand the benefits of its technology.

Global cybersecurity leader Netskope last week raised $401 million in convertible bonds to expand the benefits of its technology.

Debt financing was provided by Morgan Stanley Tactical Value, Goldman Sachs Asset Management, Ontario Teachers’ Pension Plan and CPP Investments.

The company last held a Series H funding round in which it raised $300 million in 2021. At the time, its valuation was $7.5bn.

Netskope was founded in 2012 by Sanjay Beri, Lebin Cheng, Ravi Ithal and Krishna Narayanaswamy, and launched its first open source security software in October 2013.

It is worth noting that Netskope co-founder and CEO Sanjay Beri previously mentioned an interest in making the company public, and convertible bonds, in turn, tend to be one of the precursors to this event, as the latter are automatically converted into equity at predetermined points, such as when the company held an IPO.

In its recent press release to CRN magazine, Netskope said it was also planning to “expand its strategic go-to-market activities” in SASE and that it was “actively recruiting with open positions in all teams worldwide”.

“Our vision from day one was that traditional networks and security perimeters would be transformed and that users, data and devices would move beyond the enterprise network perimeter and require a new approach to security,” said Sanjay Beri.

#Netskope #VC #IPO #News

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