Reported 4 months ago
Netskope, a cloud-based cybersecurity startup, has surpassed $500 million in annual recurring revenue and is focusing on profitability rather than an immediate IPO this year, according to CEO Sanjay Beri. While the company has been preparing for an IPO, there is no rush, and the plan is to potentially go public after the elections. Netskope's subscription revenue has been growing annually at a rate higher than the industry average, with a focus on investing in security products and achieving cash flow positivity in the near term. Founded in 2012, Netskope competes in the secure access service edge (SASE) market and has raised over $1.4 billion from investors, with a valuation of $7.5 billion in 2021.
Source: YAHOO