When it comes to understanding the profusion of applications employees are using to conduct business, IT departments are increasingly lost in the cloud. Over the past several years a number of startups have cut through the fog created by this proliferation of tools to help workers do their jobs more efficiently — and leading the charge is Netskope, which just raised another $35 million. The Series C round was led by Accel Partners, and included participation from previous investors Social+Capital Partnership and Lightspeed Venture Partners.
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Cloud app analytics startup Netskope raises $35 million in funding
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Published May 15, 2014
TECHi's Take
Today, Netskope , the leader in cloud app analytics and policy enforcement, announced that it closed a $35 million Series C funding round led by Accel Partners . Existing investors Lightspeed Venture Partners and The Social+Capital Partnership also participated in this round. Funds will be used toaccelerate research and development, sales, support and marketing efforts to meet growing market demand for its solutions that help CIOs enable cloud app usage in a smart and economical way. Eric Wolford, Partner at Accel Partners, and well-respected industry and tech luminary who was most recently President of Riverbed Technologies, will join the Netskope Board. This latest investment brings Netskope’s total funding to $56.4 million. The most recent Netskope Cloud Report found that enterprises ran an average of 461 cloud apps during the first quarter of 2014, 85 percent of which were not enterprise-ready.
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