Netskope

Netskope provides cloud security solutions for enterprises that include cloud-delivered secure web gateways (SWGs), cloud access security brokers (CASB), and other solutions to manage access to cloud workloads. These solutions help companies monitor the use of cloud applications and identify suspicious behavior. Netskope’s tools attempt to replace legacy solutions such as VPNs.

In April 2023 Netskope announced the addition of a new software-defined wide area network (SD-WAN) service to its platform, designed to provide enterprises with the ability to ensure secure access to their infrastructure from endpoint devices in any location. Netskope planned to offer the new SD-WAN alongside its existing SSE product to provide a unified SASE client, which it claimed was an industry first.

In June 2023, Netskope updated its secure service edge (SSE) platform to help address data leakage risks of generative AI applications like ChatGPT. The updated platform allowed organizations to track usage of generative AI applications, manage access controls, and automatically prevented upload of sensitive information.

Netskope acquired the IoT security startup, WootCloud in June 2022 integrating WootCloud’s HyperContext Security platform with its Intelligent Security Service Edge (SSE) platform to expand its SSE and Zero Trust capabilities. This was followed by the acquisition of cloud networking vendor, Infiot in August 2022 to deliver an integrated single-vendor SASE platform to its customers by leveraging Infiot’s technologies to offer a uniform security and quality of experience (QoE) policies to the Netskope Borderless WAN.

Netskope most recently acquired digital experience management company Kadiska, in September 2023, to monitor entities across its SASE ecosystem and proactively remediate issues.

Key customers and partnerships

Netskope’s product offerings were backed by more than 100 global patents as of January 2023, and the company served more than 2,500 customers globally across industries such as financial services, healthcare, telecommunications, and retails, including more than 25 of the Fortune 100 as of February 2024. Notable customers included Christus Health, Aspen Snowmass, Ascensus, Ross, USPTO, and PDC Energy.

Netskope has partnered with several companies to expand its cloud security offering and expand its market reach, with notable partnerships as of February 2024, including Microsoft, CrowdStrike, Mimecast, and Okta.

Netskope partnered with Stellar Cyber, a open extended detection and response (Open XDR) startup in December 2022, to provide a joint solution that incorporates rich user-centric data to improve control and visibility of risks and threats across incident investigations conducted by Security Operation Center (SOC) analysts.

In July 2021, Netskope partnered with cybersecurity company, Chillisoft, to accelerate sales for cloud-based SASE protection to 1,250 resellers and integrators, including more than 100 managed service providers (MSPs) across New Zealand and the Pacific Islands. The company also announced a partnership with telecommunications company Telstra in November 2023 under which Telstra would distribute Netskope’s SASE and ZTNA solutions globally.

Funding and financials 

In January 2023, the company raised USD 401 million in convertible notes led by Morgan Stanley Tactical Value. The funds were utilized to accelerate platform development and expand its go-to-market strategy.