Celebrating Netskope’s Landmark IPO

Building an iconic, enduring company isn’t easy. Ringing the Nasdaq bell to celebrate an IPO is just as hard and rare. Today, we are honored to celebrate Netskope’s first day as a public company — an important and exciting milestone in a journey that is still only just beginning.

The world has changed dramatically in the 12 years since we first partnered with Sanjay and the Netskope (NTSK) team back in 2013.

When we led Netskope’s Series B financing — just six months after Sanjay had raised his Series A — the cloud transition was still in the early stages. Hard to believe, but at that time, the average enterprise had only adopted ~1-2 SaaS applications, and the AI revolution was still almost a decade away. While others were still debating whether the cloud would truly transform enterprise computing, Sanjay was already building for a future he knew was inevitable. Yet, Sanjay had an unwavering conviction that the cloud would change the way that we work, live, and play, and he wanted Netskope to be the leading platform that enterprises chose to secure their data, employees, and network. Central to this vision was a bet that not only did he need to build a global secure network, but that he would also have to invest deeply in emerging machine learning and AI technologies. We believed in this team and their vision — to build a standalone, modern security platform that addressed a very large market.

From day one, Sanjay’s vision has been to build an iconic, independent security company trusted by customers worldwide. To do so, he assembled an exceptional team and built a security platform with multiple products sharing a common data model, reimagining security and networking for the cloud and AI era.

And today, in 2025, after having rung the Nasdaq bell and commencing its journey as a public company, Netskope has achieved an incredible amount of success. More than 30% of the Fortune 100 now trusts Netskope to secure their cloud, network, data, and emerging AI workloads. Globally, over 4,000 companies rely on Netskope’s distributed network to deliver high performance, embedded security everywhere. Gartner has named Netskope a Leader in the Security Service Edge (SSE) Magic Quadrant for several years, and more recently, a Leader in the Secure Access Service Edge (SASE) Magic Quadrant for the past two years. In 13 years since its founding, Netskope has grown from a nascent startup to a company with over $700M in ARR, growing over 30% year over year, and with nearly 3000 global employees. And, they’re just getting going.

Lightspeed has been a proud partner of Netskope since 2013 as a lead investor. I’ve been honored to serve on Netskope’s board of directors for the past 12 years, and it’s been incredible to see how the company has evolved from securing SaaS and mobile applications to now having a broad and comprehensive security platform that is fine-tuned for the cloud and AI age.

On the heels of today’s milestone, Netskope is just getting started for the long run. We are grateful to Sanjay and the Netskope team for choosing to partner with us on this journey, and we are excited for what lies ahead.

The content here should not be viewed as investment advice, nor does it constitute an offer to sell, or a solicitation of an offer to buy, any securities. Certain statements herein are the opinions and beliefs of Lightspeed; other market participants could take different views.