Lightspeed-Backed Cybersecurity Unicorn Netskope Files to Go Public
The cybersecurity sector has had a string of high-profile exits lately.
Netskope, a California-based cloud security startup, has filed to go public on the Nasdaq under the symbol NTSK, according to a regulatory filing. It’s the latest sign of a slowly awakening IPO market after tariff-induced volatility forced many companies to pause their plans to go public.
Though the company is still unprofitable, its revenue has grown, and its losses have been shrinking. In the first half of this year, the company reported net losses of $169.5 million on revenue of $328.5 million, a 30% increase in revenue from the same period last year, when it generated a loss of $206.7 million on $251.3 million.
Founded in 2012, the cloud cybersecurity company’s largest backers include Accel, Lightspeed, and Iconiq. Netskope last raised venture funding in 2021, when it closed a $300 million round that valued the company at $7.5 billion. Sequoia and Sapphire Ventures were participating investors.
The cybersecurity sector has had a string of high-profile exits lately. Google bought the Israeli company Wiz for a record $32 billion in March. Meanwhile, Netskope rival Rubrik went public in April 2024, and its stock price has risen by more than 120% since.
Editor’s Note: This article was originally published on PitchBook.com.
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