Netskope

Netskope is an American software company providing a computer security platform. The platform offers cloud-native solutions to businesses for data protection and defense against threats in cloud applications, cloud infrastructure, and the web.[1] Netskope’s Cloud Access Security Brokers (CASB) product has been recognized by Gartner as a leader in its field.[2][3][4]

Netskope, Inc.
TypePrivate
Founded2012
FounderSanjay Beri, Lebin Cheng, Ravi Ithal, Krishna Narayanaswamy
HeadquartersSanta Clara, California, United States
Key people
Sanjay Beri (CEO)
ProductsNetskope Security Cloud, Netskope for SaaS, Netskope for IaaS, Netskope for Web, Netskope Private Access, CASB, Next Gen Security Web Gateway
Number of employees
990

Netskope is based in Santa Clara, California, with a software development facility in Bangalore, India, and further offices in San Francisco, Redmond, New York, St. Louis, London, Melbourne, and Singapore.[5]

History

Netskope was founded in 2012 by Sanjay Beri (current CEO), Lebin Cheng, Ravi Ithal, and Krishna Narayanaswamy with an initial venture capital of approximately $21m.[5][6] In October 2013, one year after being founded, Netskope launched its first openly available security software.[6] In that same month, it announced the formation of an advisory team and appointed Enrique Salem, former Symantec chairman and CEO to its board of directors.[7] In 2014, Netskope raised $35m in funding.[8] By mid-2015, the company announced plans to expand to the Australia and New Zealand market and in September, Netskope raised a further $75m in a round led by Iconiq Capital.[9]

In 2016, the first two patents were issued to Netskope - Patents 9,270,765 and 9,398,102 for security for network delivered services.[10][11] In June 2017, Netskope closed the most successful funding round yet, securing $100m in a round led by Lightspeed Venture Partners.[12] The following month, Netskope acquired Sift Security, also a software company with a focus on next-generation cloud infrastructure security.[13] The acquisition brought Sift’s IaaS ‘Cloud Hunter’ into Netskope’s Security Cloud.[14] A year later, in June 2018, Patent 9,928,377 for context-aware data loss prevention was issued to Netskope.[15] 2018 also saw another round of funding for Netskope, as the company raised a further $168.7 in November.[2][16]

In 2019, former Citrix and Fortinet executive Drew Del Matto was appointed CFO of Netskope.[17] In February 2020, just before the release of the Netskope Private Access solution to the general public, the company raised $340m in additional investment in a round led by Sequoia Capital Global Equities.[14][18] This brings the funding to-date to a total of $740m.[19]

As of February 2020, the company is valued at almost $3 billion – having tripled its valuation over the period of 15 months.[17][19] Overall, Netskope has experienced an average of 80% year-over-year growth in number of customers, which include 25% of the Fortune 100 companies.[20]

Netskope has been named a Leader in Gartner Magic Quadrant for Cloud Access Security Brokers and made the Forbes Cloud 100 list.[2][21]

In September 2020, Cybersecurity and Exclusive Networks have signed a distribution deal with Netskope. The arrangement would dramatically help the growing company demand for the Netskope Security Platform.[22]

Technology and products

The Netskope cloud security platform is aimed at providing enterprises with threat protection, data loss protection, visibility, and real-time insights across cloud services, including Microsoft’s Azure platform, Google Cloud, and Amazon AWS.[1] API-supported applications include Cisco WebEx, Dropbox, GitHub, Google Drive, Gmail, Microsoft OneDrive, Office 365, Salesforce and SharePoint, Slack, among others.[23]

Netskope software is delivered as a SaaS (software as a service) solution, via a distributed cloud in SOC-2 and SOC-3 data centers. The solution steers cloud and Web traffic to a cloud-native service for the purposes of inspection and policy enforcement. Clients of Netskope log into the software via a web browser interface where they can access reports and analytics on cloud, cloud usage, compliance, and set policies to control and secure specific usage behavior or alert an administrator.[24]

Netskope offers different deployment options for traffic steering for analysis and policy control. These include log ingestion, API connectors, an agent-less forward proxy, reverse proxy, as well as a thin client (“agent”) and profile for remote users on PCs or mobile devices, and GRE and IPsec tunneling. Netskope can enforce policies including data loss prevention (DLP), anti-malware, encryption, access control, and incident management services on the cloud and web traffic it inspects.[25]

The platform includes a cloud-native solution named a Next Generation Secure Web Gateway – unifying Netskope’s original CASB inline technology with inline web gateway, advanced threat protection and data loss prevention services.[26] In July 2019, Netskope implemented NewEdge into its platform – a global network infrastructure providing high-capacity and low-latency to enable a positive user experience from anywhere. NewEdge provides real-time security that is delivered using an SDN overlay. At the time of release, NewEdge had 50 points of presence, totaling over 100Tb/s total capacity.[27]

Secure access to private enterprise applications was added with the Private Access product, first introduced in June 2019 and made generally available in February 2020.[26]

References
  1. Konrad, Alex (September 11, 2019). "The Cloud 100". Forbes. Retrieved 2020-03-30.
  2. Lyons Hardcastle, Jessica (November 13, 2018). "Latest Security Unicorn Netskope Scores $168.7M Series F". SDxCentral.
  3. Riley, Steve; Lawson, Craig (October 22, 2019). "Magic Quadrant for Cloud Access Security Brokers". Gartner. Retrieved 2020-03-30.
  4. "Netskope hauls in another $340M investment on nearly $3B valuation". TechCrunch. Retrieved 2020-03-30.
  5. "A look at cloud security leader Netskope (and how to get hired there)". Ladders | Business News & Career Advice. Retrieved 2020-03-30.
  6. "Fresh Out of Stealth, Gray Matter Eyeing Big Data Services". SiliconANGLE. 2013-10-10. Retrieved 2020-03-30.
  7. E.F. Brown, Steven (October 23, 2013). "Enrique Salem takes seat on Netskope board of directors". Business Times. Retrieved 2020-03-30.
  8. Kepes, Ben. "Netskope Raises $35M To Secure The Enterprise Cloud". Forbes. Retrieved 2020-03-30.
  9. Chanthadavong, Aimee. "Netskope eyes APAC expansion with $75m Series D funding". ZDNet. Retrieved 2020-03-30.
  10. "US Patent for Security for network delivered services Patent (Patent # 9,270,765 issued February 23, 2016) - Justia Patents Search". patents.justia.com. Retrieved 2020-03-30.
  11. "US Patent for Security for network delivered services Patent (Patent # 9,398,102 issued July 19, 2016) - Justia Patents Search". patents.justia.com. Retrieved 2020-03-30.
  12. "Cloud security broker Netskope raises $100m more led by Lightspeed and Accel". TechCrunch. Retrieved 2020-03-30.
  13. "Netskope nabs Sift Security to enhance infrastructure cloud security". TechCrunch. Retrieved 2020-03-30.
  14. "Netskope acquires Sift Security for next generation IaaS tools". Cloud Tech News. Retrieved 2020-03-30.
  15. "US Patent for Systems and methods of monitoring and controlling enterprise information stored on a cloud computing service (CCS) Patent (Patent # 9,928,377 issued March 27, 2018) - Justia Patents Search". patents.justia.com. Retrieved 2020-03-30.
  16. "Netskope raises $168.7M at a $1B+ valuation for its cloud security platform". TechCrunch. Retrieved 2020-03-30.
  17. "Cloud security platform Netskope raises $340 million at $3 billion valuation". VentureBeat. 2020-02-06. Retrieved 2020-03-30.
  18. "Exclusive: Cloud Securer Netskope Raises $170 Million, Sprouts 'Unicorn' Horn". Fortune. Retrieved 2020-03-30.
  19. Novinson, Michael (2020-02-06). "Cloud Security Firm Netskope Raises $340 Million To Fulfill Demand". CRN. Retrieved 2020-03-30.
  20. Schubarth, Cromwell. "Santa Clara cybersecurity unicorn hits nearly $3B valuation in $340M funding". Business Journal. Retrieved 2020-03-30.
  21. "#64 Netskope - Forbes Cloud 100". Forbes. Retrieved 2020-03-30.
  22. "Exclusive Networks signs distribution deal with NetSkope". techcentral. 18 September 2020. Retrieved 23 September 2020.
  23. "Understand CASB technology before you buy". SearchCloudSecurity. Retrieved 2020-03-30.
  24. "Netskope for SaaS: CASB Product Review and Analysis". eSecurity Planet. Retrieved 2020-03-30.
  25. Intelligence, Global Business. "Netskope talk their Cloud Security platform via cases & comparisons | CISO Event". www.gbievents.com. Retrieved 2020-03-30.
  26. Lyons Hardcastle, Jessica (February 9, 2020). "Netskope CEO: Don't Fall for SASE Washing".
  27. Lyons Hardcastle, Jessica (July 25, 2019). "Netskope Pushes Security to the Edge". SDxCentral.
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