Cloud Security

Netskope to develop SASE products after raising $401M

Investment firms have raised $401 million in convertible notes as additional debt financing for cloud security firm Netskope, which said it plans to use the funds on its go-to-market strategy and to continue enhancing its secure access service edge products, CRN reports. "Our vision from day one was that traditional network and security perimeters would transform, with users, data and devices moving outside the confines of corporate network perimeters and requiring a new approach to security," said Sanjay Beri, co-founder and CEO of Netskope. "With a cloud-first, data-first and customer-centric philosophy, we built a market-leading SASE platform and one of the worlds fastest and most-connected security cloud networks." The company, which was most recently valued at $7.5 billion, had reportedly been considering going public. It acquired WootCloud, an innovator in applying zero-trust principles to Internet-of-things security systems, in July, one month before its acquisition of Infiot and its "borderless WAN" technology for securing multiple remote work sites.

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