Cyber Startup Netskope Raises $340 Million in Sequoia-Led Round

Nico Grant (Bloomberg) -- Netskope Inc., a cloud-based cybersecurity startup, has raised $340 million in a funding round led by Sequoia Capital, boosting the company’s valuation to almost $3 billion.

Netskope, started in 2012, makes software that helps protect cloud services, apps and websites from cyberthreats. In addition to Sequoia, other new investors were the Canada Pension Plan Investment Board and PSP Investments, Santa Clara, California-based Netskope said Thursday in a statement. Existing investors Lightspeed Venture Partners, Accel and others also participated in the round.

“This latest investment from the top enterprise and security investors in the world is proof of not only our enormous success in establishing Netskope as the new gold standard for cloud-delivered security, but also that the astounding level of global demand we’re seeing today is just the tip of the iceberg,” Sanjay Beri, Netskope’s chief executive officer, said in a statement.