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Cybersecurity firm Netskope eyes up to $6.5 billion valuation in US IPO
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Cybersecurity firm Netskope eyes up to $6.5 billion valuation in US IPO
Sep 8, 2025 4:31 AM

(Reuters) - Netskope is seeking a valuation of up to $6.5 billion in its initial public offering in the United States, the cloud-based cybersecurity firm said on Monday, signaling investors' appetite for new listings.

U.S. listings rebounded after an April slump sparked by tariff-driven market volatility, as signs of progress in trade negotiations and demand for fresh listings restored confidence in the market.

Ticketing platform StubHub also launched a roadshow for its U.S. initial public offering on Monday, aiming a raise of up to $851 million.

Santa Clara, California-based Netskope said it would sell 47.8 million shares, priced between $15 and $17 apiece, to raise as much as $813 million.

Netskope, founded in 2012, develops cloud security software that helps businesses safeguard apps, websites and data from cyber threats.

A rise in sophisticated cyberattacks and the rapid shift to cloud platforms have heightened fears of breaches and operational disruptions, spurring investor interest in AI-powered cybersecurity firms that promise stronger defenses in an increasingly digital economy.

It competes with larger companies, including Palo Alto Networks and Zscaler, in the secure access service edge (SASE) market.

The SASE market is projected to surge to $25 billion by 2027 from $7 billion in 2022, according to Gartner's 2023 report.

The company's customers range from mid-sized firms to large enterprises, including mobile chip designer Qualcomm and Canadian bank BMO.

Netskope was valued at $7.5 billion in a 2021 funding round led by ICONIQ, with other investors including Sequoia and Accel.

The listing comes a year after rival Rubrik's New York debut, the shares of which have more than doubled since going public.

Morgan Stanley and J.P. Morgan are the lead underwriters for the offering. Netskope will list on the Nasdaq under the "NTSK" symbol.

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