Netskope Raises $908M in IPO, Valued at $7.26B

Cloud-based cybersecurity firm Netskope has successfully raised $908.2 million through its United States initial public offering (IPO). The company sold approximately 47.8 million shares at $19 per share, resulting in a valuation of $7.26 billion. This offering represents a significant achievement for the Santa Clara, California-based firm, founded in 2012, which specializes in cloud security software designed to protect applications, websites, and data. The IPO's success aligns with a broader resurgence in the U.S. IPO market, indicating renewed investor confidence in companies across various sectors following recent successful debuts. Netskope's strong performance highlights the increasing significance of cybersecurity within global corporate budgets, a trend driven by the ongoing threat of digital attacks to operational continuity and sensitive data. Financially, Netskope reported $328 million in revenue and a reduced net loss of $170 million for the six-month period ending July 31, an improvement compared to the prior year. The company will be listed on the Nasdaq under the ticker symbol "NTSK," with Morgan Stanley and J.P. Morgan acting as lead underwriters.