Netskope Secures $100M in Funding Led by Lightspeed & Accel to Boost Cloud Security
Netskope, a leading cloud security startup, has announced a $100 million funding round co-led by Lightspeed Venture Partners and Accel. The investment also saw participation from existing backers Social Capital and Iconiq Capital, alongside new investors Sapphire Ventures and Geodesic Capital.
Addressing the Growing Cloud Security Gap
With businesses rapidly migrating data to the cloud, security risks have surged. Netskope CEO and cofounder Sanjay Beri highlighted this challenge in a statement:
“A third of all business data has moved to the cloud, creating a massive compliance gap. Our data shows nearly 50% of cloud uploads violate customer-set data loss prevention policies.”
The Rise of Blended Threats
Beri emphasized the growing danger of “blended threats”—sophisticated malware attacks that exploit both web and cloud services simultaneously. These threats are particularly challenging because:
- They move across multiple gateways
- Traditional siloed security solutions often miss them
- Collaboration tools create new data exfiltration channels
Netskope’s Cloud Security Solution
As a Cloud Access Security Broker (CASB), Netskope offers:
- Subscription-based cloud data protection
- Pricing between \(12-\)20 per user/month (annual contracts)
- Customizable security based on usage and functionality needs
The Los Altos-based company currently serves over 400 clients, including notable organizations like Nuna Health, Oak Hill Advisors, and Genomic Health.
Funding and Future Growth
With this latest round, Netskope has raised $231.4 million total. The company plans to allocate the new capital toward:
- Accelerating R&D initiatives
- Expanding sales and marketing efforts
- Achieving long-term financial independence
Founded in 2012, Netskope now employs 350 professionals dedicated to solving complex cloud security challenges.
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