Sanjay Beri, CEO and Founder of Netskope Inc., listens to her during a Bloomberg West TV interview in San Francisco, California.
David Paul Morris | Bloomberg | Getty Images
Cloud security platform Netskope will publish NASDAQ under the ticker symbol “NTSK.”
The Santa Clara, California-based company has increased annual recurring revenue by 33% to $707 million, while revenues increased 31% in the first half to about $328 million.
However, Netskope is not yet beneficial. The company recorded a net loss of $170 million in the first half of the year. This narrowed from a loss of $207 million a year ago.
Netskope has joined the rise in technology companies that have gained momentum in the surge in IPO activities after high inflation and interest rates effectively killed the market.
So far, design software companies Figma More than three times more on New York Stock Exchange debut, Crypto Firm Round It surged 168% on the first trading day. coreweave Also, while trading apps, they’ve been popping since IPO Etro Their debut in May saw a 29% increase.
Netskope’s offering also coincides with busy periods of cybersecurity trading.
The two biggest technology deals this year include Alphabet’s $32 billion Wiz acquisition and Palo Alto Network“An ambitious plan to buy an Israeli identity security company Cyber Ark $25 billion.
Founded in 2012, Netskope created his own name in the early days with Cloud Access Security Broker Space. The company lists the Palo Alto Network. Cisco, zscaler, Broadcom and Fortinet As a major competitor.
Netskope’s biggest backers include Accel, Lightspeed Ventures and Iconiq.
Morgan Stanley and jpmorgan Leading the offering. Netskope has listed 13 Wall Street Banks as underwriters.
