Netskope Named a Top Company for 8 Straight Years in Forbes Cloud 100

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Aug 06, 2024, 12:30 ET

SANTA CLARA, Calif., Aug. 6, 2024 /PRNewswire/ -- Netskope, a leader in secure access service edge (SASE), today announced that it has been named one of the top cloud innovators in the Forbes Cloud 100 for the eighth consecutive year. Published by Forbes, in partnership with Bessemer Venture Partners and Salesforce Ventures, the Forbes Cloud 100 list is the definitive ranking of the top 100 private cloud companies in the world. Netskope is repeatedly recognized by customers, analysts, and industry bellwethers as one of the world's most important security and networking and cloud providers. In the 2024 Forbes Cloud 100, Netskope is ranked #15 overall, among the top ranked security and networking companies.

Hybrid work preferences have driven record adoption of software as a service (SaaS) and cloud applications in business, but the associated surge in security threats, increased use of artificial intelligence (AI), and challenges preserving network performance have stressed legacy technology architecture to the point of ineffectiveness. As a result, organizations now seek cloud-native, simple, and scalable solutions, such as SASE and Security Service Edge (SSE), that can stop threats, prevent unauthorized access to apps and data, and guarantee network performance.

Gartner® estimates the SASE market will reach over $25 billion by 2027, expanding at a compound annual growth rate (CAGR) of 29%^¹. Netskope is outpacing that growth rate as organizations increasingly adopt Netskope One SASE platform capabilities to operate safely, securely and optimally in the cloud. The world's top technology analysts, including Gartner, IDC and Forrester, continuously validate Netskope as a leader in SASE, SSE and zero trust, helping organizations address their most critical cloud, SaaS, web, and private application security needs as well as their most persistent network performance challenges, all at once.

"We built Netskope to reinvent the entire enterprise strategy for protecting critical data from threats and ensure the safe adoption and usage of cloud, SaaS, web, and private applications—all while optimizing performance," said Sanjay Beri, co-founder and CEO of Netskope. "With hybrid work environments, AI, and other future-state needs, enterprises seek cloud-native security and networking solutions that offer simplicity, scale, and performance from a single, modern SASE platform. We're honored to once again be recognized by the Forbes Cloud 100, and are proud of the wide-ranging industry recognition that further underscores our innovation and commitment to our customers."

This latest Forbes Cloud 100 ranking follows a series of Netskope milestones over the past year, further solidifying Netskope's place among the top technology companies shaping the way enterprises are modernizing their technology. Over the past 12 months, Netskope has achieved:

Continued Growth
- Netskope Surpasses $500 Million in ARR: With a growing customer base of over 3,500 customers worldwide, including several Fortune 500 companies, In June 2024, Netskope announced it surpassed $500 million in annual recurring revenue as more and more enterprises are adopting Netskope's market-leading unified SASE Platform.
Continued Market Recognition
- Gartner recently recognized Netskope as a Leader in the 2024 Magic Quadrant for Single-Vendor SASE, and the corresponding Critical Capabilities report identified Netskope as the only vendor to appear as one of the top three scoring vendors in each Use Case, in addition to receiving the highest score for the Zero Trust Platform Use Case and the highest aggregate score across all Use Cases.
- This recognition comes fresh off of the company being named for the third year in a row as a Leader in the 2024 Magic Quadrant for SSE, where Netskope was once again named as the highest Ability to Execute and to be furthest in Completeness of Vision.
- In addition, Netskope was recognized as a Leader and had the highest score in the Current Offering category in The Forrester Wave™: Security Service Edge Platforms, Q1 2024 report.
Continued Platform Expansion and Enhancement
- SaaS Security Enhancements to Netskope One: Netskope announced new enhancements to the platform's already industry-leading Cloud Access Security Broker (CASB) module with additional features designed for generative AI and SaaS collaboration.
- SASE Tailored for the Midmarket: Netskope expanded its single-vendor SASE family to offer an MSP-friendly SASE solution, created specifically for the needs of the midmarket. Netskope today offers the most complete range of single-vendor SASE options that align to the requirements of different business sizes.
- SkopeAI: Netskope's suite of AI and machine learning (ML) innovations deliver modern data protection and cyber threat defense, overcoming the limitations of conventional security technologies and providing protection using AI-speed techniques not found in products from other SASE vendors.
- Global and Seamless Localized Experience: Netskope became the first industry vendor able to deliver SSE globally with a seamless, localized experience for over 220 countries and territories thanks to a NewEdge footprint that now includes more than 200 Localization Zones and full-compute data centers in over 75 regions.

For the ninth consecutive year, the Cloud 100 reviews submissions from hundreds of cloud startups and private companies each year. The Cloud 100 evaluation process involved ranking companies across four factors: market leadership, estimated valuation, operating metrics, and people & culture. For market leadership, the Cloud 100 enlists the help of a judging panel of public cloud company CEOs who assist in evaluating and ranking their private company peers.

"For nine years, the Forbes Cloud 100 list has recognized the leading private cloud companies in the world, from AI to work software, infrastructure to security," said Alex Konrad, the Forbes editor of the Cloud 100. "This year's list is the strongest group of standouts yet, with revenue, valuations and growth that will eventually make for historic IPOs."

The Forbes 2024 Cloud 100 is published online at www.forbes.com/cloud100. Highlights of the list will appear in the August/September 2024 issue of Forbes magazine.

To learn more about Netskope visit: www.netskope.com, and follow Netskope on LinkedIn, Instagram, and X (formerly Twitter).

Gartner Disclaimer

Gartner, Forecast Analysis: Secure Access Service Edge, Worldwide, Nat Smith, Neil MacDonald, et al, 10 October 2023.

Gartner, Magic Quadrant for Security Service Edge, Charlie Winckless, Thomas Lintemuth, Dale Koeppen, 15 April 2024.

Gartner, Magic Quadrant for Single-Vendor SASE, Andrew Lerner, Neil MacDonald, Jonathan Forest, Charlie Winckless, 3 July 2024.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved.

Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's Research & Advisory organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Netskope
Netskope, a global SASE leader, helps organizations apply zero trust principles and AI/ML innovations to protect data and defend against cyber threats. Fast and easy to use, the Netskope One platform and its patented Zero Trust Engine provide optimized access and real-time security for people, devices, and data anywhere they go. Thousands of customers trust Netskope and its powerful NewEdge network to reduce risk and gain unrivaled visibility into any cloud, web, and private application activity—providing security and accelerating performance without trade-offs. Learn more at netskope.com .

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^¹ Gartner Research: Forecast Analysis: Secure Access Service Edge, Worldwide, Nat Smith, Neil MacDonald, et al, 10 October 2023.

SOURCE Netskope