Netskope

Netskope, a SASE cloud security leader, debuted on Nasdaq (NTSK) with shares surging over 18%, valuing the company at $8.6 billion. The IPO, priced at $19 after an upped range, raised over $908 million for expansion. CEO Sanjay Beri highlighted their mission to secure AI and cloud adoption, redefining data network security. Netskope focuses on interoperability within the cybersecurity ecosystem and strategic acquisitions. While not yet profitable, revenue for the first half of the year reached $328 million, and the company expects positive free cash flow this year, fueled by over $700 million in ARR.

Cybersecurity firm Netskope is set to IPO on Nasdaq under the ticker “NTSK,” priced at $19 per share, valuing the company at $7.3 billion. The IPO, expected to raise $908.2 million, comes amidst a resurgence in IPO activity despite economic headwinds. While some IPOs face initial volatility, the cybersecurity sector is experiencing a surge in M&A, underscored by significant acquisitions like Google’s Wiz purchase. Netskope, with $707 million in ARR and 33% year-over-year growth, offers cloud-native security solutions, competing with Broadcom, Cisco, Palo Alto Networks, and Zscaler.

Cloud security firm Netskope is targeting a $7.3 billion valuation for its IPO, offering shares at $17-$19, up from an initial range. The company plans to list on Nasdaq as “NTSK.” This reflects renewed IPO market vigor in tech and cybersecurity following acquisitions like Google’s Wiz deal. Netskope, a CASB provider founded in 2012, competes with Palo Alto Networks, Cisco, and Broadcom. While showing strong growth prospects, it reported a $170 million net loss for the first half of the year.