Netskope's IPO: Built with GRIT and Guided by Purpose
From bold vision to enduring platform: redefining security for the cloud and AI era

Netskope Founder and CEO, Sanjay Beri

Netskope's IPO: Built with GRIT and Guided by Purpose

From bold vision to enduring platform: redefining security for the cloud and AI era

Netskope Founder and CEO, Sanjay Beri

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https://www.iconiqcapital.com/growth/insights/netskopes-ipo-built-with-grit-and-guided-by-purpose

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Some companies are born to meet a moment. We believe Netskope was built to anticipate one. In 2012, Sanjay Beri and the founding team recognized that cloud and AI could reshape how the world works, creating a remarkable era of possibility – but also complexity and risk. Their decades of security and networking experience allowed them to recognize early signs that legacy approaches might no longer suffice, pointing to the need for a radically new approach built for scale, speed, and continuous innovation.

Their vision was not just about defending against threats. It was about building a company with the technology, scale, and resilience to safeguard enterprises for decades to come, empowering them to innovate boldly without fear.

Today, as Netskope enters the public markets, its IPO represents the culmination of that early vision and the beginning of an exciting new chapter.

Our own journey with Netskope began in 2015, when we led the company’s Series D. From the start, what stood out to us was not only Sanjay’s conviction to transform the security industry, but also his deeply rooted values, discipline, and unwavering patience to build for the long-term, brick by brick. It has been a privilege to witness Sanjay’s drive and the team’s evolution firsthand.

Netskope first distinguished itself as a pioneer in Cloud Access Security Broker (CASB), long before many other enterprises recognized the urgency for cloud security. But the vision always stretched far beyond CASB. Sanjay, Krishna and the team anticipated that modern enterprises would soon rely on a complex interplay of users, devices, applications and now AI systems, exchanging data continuously and globally. They had conviction that protecting data, the lifeblood of modern enterprises, would require an entirely new architecture that could offer protection at every turn in this new digital paradigm without sacrificing network performance to deliver advanced security capabilities. 

That insight gave rise to Netskope One. Among its important capabilities, Netskope One includes fully integrated CASB, Software-Defined Wide Area Network (SD-WAN), Secure Web Gateway (SWG), Zero Trust Network Access (ZTNA), Enterprise Browser, Remote Browser Isolation (RBI), Unified Data Security, including DLP and Data Security Posture Management (DSPM), Firewall-as-a-Service (FWaaS), and Digital Experience Management (DEM), with patented innovations and proprietary AI models throughout the platform. Powered by NewEdge, Netskope’s private global network, this platform eliminates trade-offs between security and performance, leveraging AI to proactively defend against an ever-evolving threat landscape.

The results speak for themselves. Today, Netskope secures more than 4,300 customers around the world, including over 30% of the Fortune 100, supported by a global team of more than 2,000 employees. Its consistent recognition as a leader in both Gartner’s Magic Quadrant for Security Service Edge (SSE) and Magic Quadrant for Secure Access Service Edge (SASE) underscores its importance as one of the most trusted platforms in the industry.

Yet, behind the technology lies the true heart of Netskope: its culture. Sanjay often describes it as GRIT – guts, resolve, integrity, and tenacity. These qualities have been core to the company since its inception, shaping how the team builds, leads, and delivers for customers, and ensuring that Netskope is not only innovating today but also positioned to endure for decades.

Netskope’s success has always been about more than technology. It has been equally about building enduring trust and partnerships. From our earliest days together, we’ve sought to be a true extension of the team, helping recruit leadership, expand into new markets, and connect with customers and peers who could shape the company’s trajectory. Whether in diligence sessions, board discussions, or community gatherings, these moments of collaboration have been central to the journey. They remain among the most rewarding aspects of our relationship, underscoring the privilege of supporting Sanjay, Krishna, and the entire Netskope team as they work toward building a generational company.

For Netskope, going public is not an ending, but another significant milestone in a much longer journey. The company is still in the early innings of a market it has helped reimagine. As enterprises expand globally, embrace AI, and depend on data more deeply, Netskope’s vision and platform put the company in a strong position to deepen their impact with customers and lead the next era of cybersecurity. We congratulate Sanjay, Krishna, the leadership team, and every Netskoper past and present on this remarkable milestone. We are deeply proud to be part of this inspiring journey.

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Certain of the economic and market information contained herein may have been obtained from published sources and/or prepared by other parties. While such sources are believed to be reliable, none of ICONIQ or any of its affiliates and partners, employees and representatives assume any responsibility for the accuracy of such information.

All of the information in the presentation is presented as of the date made available to you (except as otherwise specified), and is subject to change without notice, and may not be current or may have changed (possibly materially) between the date made available to you and the date actually received or reviewed by you. ICONIQ assumes no obligation to update or otherwise revise any information, projections, forecasts or estimates contained in the presentation, including any revisions to reflect changes in economic or market conditions or other circumstances arising after the date the items were made available to you or to reflect the occurrence of unanticipated events. Numbers or amounts herein may increase or decrease as a result of currency fluctuations.

For avoidance of doubt, ICONIQ is not acting as an adviser or fiduciary in any respect in connection with providing this presentation and no relationship shall arise between you and ICONIQ as a result of this presentation being made available to you.

ICONIQ is a diversified financial services firm and has direct client relationships with persons that may become limited partners of ICONIQ funds. Notwithstanding that a person may be referred to herein as a "client" of the firm, no limited partner of any fund will, in its capacity as such, be a client of ICONIQ. There can be no assurance that the investments made by any ICONIQ fund will be profitable or will equal the performance of prior investments made by persons described in this presentation.

Any information in this presentation is directed at, and intended for, only persons who are experienced institutional or professional investors (“professional investors”) as defined by applicable law and regulation. Any person that is not a professional investor is not an intended recipient of this presentation and the matters discussed herein.

ICONIQ is a trading name of ICONIQ Partners (UK) LLP. ICONIQ Partners (UK) LLP (Registration Number: 973080) is an appointed representative of Kroll Securities Ltd. (Registration Number: 466588) which is authorised and regulated by the Financial Conduct Authority. ICONIQ Partners (UK) LLP is a limited liability partnership whose members are ICONIQ Capital (UK) Ltd, Seth Pierrepont and Lou Thorne, and it is registered in England and Wales and has its registered office at 27 Soho Square, London W1D 3QR. ICONIQ Partners (UK) LLP acts as an adviser to ICONIQ Capital LLC