Funding round
Netskope Series F
Netskope, which works in security and networking solutions development in Santa Clara, raised $169M in a Series F round announced on 13 Nov 2018, led by Lightspeed Venture Partners, at a $1.00B post-money valuation. 7 firms took part, 6 of them already investors. It is Netskope's sixth venture round on record; the one before was a Series E in Jun 2017.
$169M
Amount raised
$1.00B
Post-money valuation
7
Investors
1 lead
5.0x
Step-up from the Series C
$200M in May 2014
17%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Netskope at $1.00B after the new money, 5.0 times the $200M of its Series C (May 2014). The $169M bought investors about 17% of the company. It came 17 months after Netskope's Series E. It is 16% of the $1.04B Netskope has raised in the venture rounds on record. Netskope raised again 15 months later: a Growth round of $340M in Feb 2020, at $3.00B post-money.
Netskope's funding rounds
Netskope has 8 venture rounds on record and 1 other deal. This one is highlighted.
- Seed 1 Jan 2013, led by Social Capital $5.5M
- Series B 1 Jan 2013 $16M
- Series C 15 May 2014, led by Accel $35M$200M post-money
- Series D 3 Sep 2015, led by Iconiq Capital $75M
- Series E 6 Jun 2017, led by Lightspeed Venture Partners and Accel $100M
- Series F this round 13 Nov 2018, led by Lightspeed Venture Partners $169M$1.00B post-money
- Growth 6 Feb 2020, led by Sequoia Capital $340M$3.00B post-money
- Growth 9 Jul 2021, led by ICONIQ Growth $300M$7.50B post-money
- Debt not a venture round 5 Jan 2023, led by Morgan Stanley $401M
Investors
Who put money in
Lightspeed Venture Partners led the round with 6 other firms. Lightspeed Venture Partners, Accel, Geodesic Capital and Iconiq Capital and 2 more had backed Netskope before.
Lead investor
- Lightspeed Venture Partners backs 454 venture-backed companies existing investor
Also in the round
- Accel backs 581 venture-backed companies existing investor
- Geodesic Capital backs 45 venture-backed companies existing investor
- Iconiq Capital existing investor
- Sapphire Ventures backs 148 venture-backed companies existing investor
- Social Capital backs 94 venture-backed companies existing investor
- backs 15 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
9 Series F rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 4.8 times the median. The closest in time, other companies' Series F rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 25 Oct 2018 | $35M | not disclosed | Lenovo |
| Tech Companies | 2 Oct 2018 | $33M | $390M | Simon Ventures and Naver Corp. |
| Tech Companies | 1 Jan 2019 | $15M | $114M | not named |
| Tech Companies | 21 Jun 2018 | $25M | not disclosed | Foundry |
| Tech Companies | 15 May 2019 | $55M | $850M | Silver Lake Waterman |
| Tech Companies | 1 May 2019 | $50M | $539M | Goldman Sachs |
| Tech Companies | 15 May 2018 | $17M | not disclosed | not named |
| Tech Companies | 12 Aug 2019 | $100M | $370M | Francisco Partners |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did Netskope raise in its Series F round?
Netskope raised $169M in its Series F round, announced in Nov 2018.
Who led Netskope's Series F round?
Lightspeed Venture Partners led it, with Accel, Geodesic Capital, Iconiq Capital, Sapphire Ventures and Social Capital and 1 more.
What was Netskope's valuation at the Series F round?
$1.00B post-money.
How does it compare with other Series F rounds in Tech Companies?
9 Series F rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 4.8 times the median.
Did Netskope raise again after this round?
Yes: a Growth round in Feb 2020 of $340M at $3.00B post-money.