Cybersecurity firm Netskope has filed for a US initial public offering (IPO) at Nasdaq, aiming to raise up to US$ 813 million by offering 47.8 million shares priced between US$ 15 and US$ 17 each. Should it reach the top of that pricing range, the company anticipates a valuation of up to US$ 6.5 billion.
The IPO comes amid a revived momentum in listings following an April downturn tied to market turbulence after the US government implemented a series of international tariffs. Renewed investor confidence, pushed by advances in trade negotiations and heightened demand for quality listings, has encouraged companies like Netskope to go public again.
Founded in 2012 and headquartered in Santa Clara, California, Netskope develops cloud-based cybersecurity software that protects applications, websites, and data from emerging threats. It will list on the Nasdaq exchange under the ticker “NTSK.”
Netskope’s IPO is being led by Morgan Stanley and JP Morgan, acting as joint lead underwriters. The company counts among its investors prominent names such as Lightspeed Venture Partners, ICONIQ Growth, and Accel, with Lightspeed still holding a significant stake and poised for a substantial return.
Netskope competes in the rapidly growing Secure Access Service Edge (SASE) sector, alongside larger players like Palo Alto Networks and Zscaler. This SASE market is projected to expand from US$ 7 billion in 2022 to \$25 billion by 2027, reflecting surging demand driven by cloud adoption and increasing cyber-threat sophistication.
In 2021, Netskope was valued at US$ 7.5 billion during a funding round led by ICONIQ Growth. The current IPO target valuation is lower, possibly reflecting market shifts, though still positions Netskope ahead of many peers. Rubrik, another cybersecurity startup at Lightspeed’s portfolio, that went public a year ago, has seen its share price rise dramatically since then, signaling continued investor appetite in the space: a good sign for Netskope.
