Shares of cybersecurity provider Netskope were up 28% in early first-day trading Thursday, indicating fairly robust investor enthusiasm for a new entrant in the space.
The Santa Clara, California-based company priced shares at $19 each late Wednesday, the top of the projected range. The offering brought in $908 million for Netskope, which is trading on Nasdaq under the symbol NTSK.
Founded in 2012, Netskope was formed with a vision to build security tools optimized for the cloud computing era. It’s honed its offerings over the years as new technologies, in particular those enabled by AI, have added fresh online risks for enterprises to face.
Per Crunchbase data, Netskope has been a prodigious venture fundraiser over the years, pulling in $1.4 billion in early- through late-stage financing. Its largest venture stakeholders are Lightspeed Venture Partners and Iconiq, each with around 19% of Class B shares, followed by Accel, with 9%.
Today, Netskope generates substantially all of its revenue from the sale of cloud subscriptions to its Netskope One platform. The company says it generally prices subscriptions based on the scale of a customer’s organization and the products it deploys, usually with a contract term of one to three years.
In recent quarters, Netskope has posted significant and growing revenue, along with large yet shrinking losses.
For the first six months of this year, revenue totaled $328 million, up 31% year over year. Concurrently, Netskope posted a $170 million net loss for the first half of 2025, down from $207 million in the year-earlier period.
The company’s market debut follows a relatively bullish period for cybersecurity startup dealmaking. Per Crunchbase data, cybersecurity was a hot area for venture investment in the first half of 2025, with total funding to the space hitting its highest level in three years.
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Illustration: Dom Guzman
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