Netskope, a Los Altos, CA-based cloud security platform provider, closed a $100m Series E funding.
The round, which brings the total amount raised to $231.4m, was led by existing investors Lightspeed Venture Partners and Accel with participation from existing investors Social Capital and Iconiq Capital and new investors Sapphire Ventures and Geodesic Capital.
The company intends to use the funds to accelerate the advancement and commercialization of its enterprise cloud security platform.
Led by Sanjay Beri, founder and CEO, Netskope leverages patented technology to provide a cloud-scale security platform, which features context-aware governance of all cloud usage in the enterprise in real-time, whether accessed from the corporate network, remote, or from a mobile device. This enables security professionals to understand risky activities, protect sensitive data, stop online threats, and respond to incidents.
The investment follows a 2016 in which the company nearly tripled revenue when compared to 2015. During 2016, it added leading enterprise customers in the retail, financial services, manufacturing, energy, and healthcare verticals, and grew global employee headcount to more than 350, with key hires made in the research and development, customer success, and threat research teams.