“However, having a continued strong balance sheet isn’t a bad thing. “The reality is we could have raised $1 billion, but we don’t need more capital,” he added. Similar to other rounds, the company was not actively seeking new capital, but that it was “an inside round with people who know everything about us,” Beri said. Also participating in this latest funding round were all other major existing Netskope investors, including Lightspeed Venture Partners, Accel, Sequoia Capital Global Equities, Base Partners, Sapphire Ventures, and Geodesic Capital.
It is worth noting that Alibaba Cloud is the only Chinese company named to the Leader ranking in 2020 Gartner’s Magic Quadrant for database management systems this year. Prior to that, it was a $168.7 million round at the end of 2018. J Netskope, the SASE leader, today announced that the company has closed a new 300 million investment round led by existing investor ICONIQ Growth. While significantly smaller in scale, we estimate their growth to be similarly strong with Alibaba Cloud generating 9.9B in run-rate revenue and growing 50 Y/Y. With this new round, Netskope continues to rack up large rounds: it raised $340 million last February, which gave it a valuation of nearly $3 billion.
“The theory is that digital transformation is inevitable, so our vision is to transform that market so people could do that, and that is what we are building nearly a decade later.” “What we had before in the market didn’t work for that world,” he said. The oversubscribed insider investment was led by ICONIQ Growth, which was joined by other existing investors, including Lightspeed Venture Partners, Accel. Netskope co-founder and CEO Sanjay Beri told TechCrunch that since its founding in 2012, the company’s mission has been to guide companies through their digital transformation by finding what is most valuable to them - sensitive data - and protecting it. Netskope co-founder and CEO, Sanjay Beri, said the move is further validation that ensuring secure usage of Cloud services is one of the single greatest concerns for CIOs and CISOs today. The oversubscribed insider investment was led by ICONIQ Growth, which was joined by other existing investors, including Lightspeed Venture Partners, Accel, Sequoia Capital Global Equities, Base Partners, Sapphire Ventures and Geodesic Capital. Netskope, focused on Secure Access Service Edge architecture, announced Friday a $300 million investment round on a post-money valuation of $7.5 billion.
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