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"This makes us financially independent," founder and Chief
Executive Officer Sanjay Beri said via phone. "We won’t be
required to ever raise capital again."
The Series E round was led by existing investors Lightspeed
Venture Partners and Accel. Sapphire Ventures and Geodesic
Capital invested in the firm for the first time, while Social
Capital and Iconiq Capital increased their investment in the
firm, according to Netskope.
Beri declined comment on valuation, but said that it was a
"significant" increase compared to a $75 million Series D round
in 2015.
He declined to say how much revenue the company brought in last
year, though he said it tripled and that he expects growth to
continue at that rate.
The firm, which helps large organizations monitor and secure
employee use of cloud services such as Google Drive and Dropbox,
has raised $231 million since it was founded in 2012.
Its more than 350 customers include medical device maker Boston
Scientific Corp <BSX.N>, apparel maker Levi Strauss & Co and
Toyota Motor Corp <7203.T>.
(Reporting by Jim Finkle in Toronto; Editing by Cynthia Osterman)
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