Cloud Security Firm Netskope Files for IPO Amid Reviving Market

Netskope, a California-based cloud security startup backed by Lightspeed, has filed to go public on the Nasdaq. The company has grown its revenue and shrunk its losses, reporting a net loss of $169.5 million on revenue of $328.5 million in the first half of this year. Founded in 2012, Netskope was last valued at $7.5 billion after a $300 million funding round in 2021. Its rival Rubrik went public in April and its stock price has risen by over 120%.