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November 15, 2018

Netskope Raises £130 Million in Series F Funding Round

"Company is uniquely positioned to continue delivering on the core principles of compliance, visibility, data security, and threat protection.”

By CBR Staff Writer

San Francisco-based cloud security platform Netskope has raised £130 million ($168) in a series F round of funding.

This latest cash drive brings Netskope’s total funding accumulated to £311 million ($400), having raised £78 million last year in a series E led by Accel and Lightspeed Venture Partners.

Netskope addresses an issue that all enterprise have to face in varying degrees of complexity. Employees can use an array of devices over the course of the day ranging from work tablets to their own personal devices. Some of these device are running company created and managed applications alongside store downloaded applications

Companies have taken different approaches to dealing with how their employees are allowed to access applications on devices while at work. Enterprises often crack down on what you can see or access, hoping to reduce worker distraction. Yet those working in the creative industries may find such polices restrictive and counterproductive.

Netskope

Using Netskope an IT department is able to oversee the entire online network. Through a dashboard interface Netskope not just allows you to monitor network activity, but gives the user the capability to set usage limits and set up warning notifications in the case of poor IT practices.

Netskope does this by establishing a security layer within the companies cloud that acts as a gatekeeper check point over all network activity passing through it.

In awarding Netskope with its Global Market Leadership Award 2018 Frost & Sullivan commented that “Direct to cloud and direct to Web traffic is overtaking corporate network traffic, as more and more users access corporate data from outside of the workplace via mobile devices.”

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“Netskope’s architecture has been designed, from the beginning, to address this trend, and we believe the company is uniquely positioned to continue delivering on the core principles of compliance, visibility, data security, and threat protection.”

See Also: SAP Leonardo Hard to Define, but Could Help Reduce Plastic Waste

Earlier this year Netskope acquired Sift Security for an undisclosed amount. Sift operates a infrastructure-as-a-service threat detection, visualization, correlation and response engine as part of its cloud hunter software. Importantly the software was designed to assess cloud environments such as AWS, Google Cloud Platform and Azure.

While commenting on their continued investment in Netskope Lightspeed Venture Partners Arif Janmohamed commented that: “Netskope consistently leads the market and is disrupting and transforming the industry landscape through solving some of the toughest enterprise challenges today. Since its launch, the company has continued to adapt to the evolving security landscape and bring innovative solutions to market.”

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