Netskope Honored in Forbes Cloud 100 for Fourth Year
SANTA CLARA, Calif., Sept. 16, 2020 /PRNewswire/ -- Netskope, the leading security cloud, today announced that for the fourth year, it has been named to the Forbes 2020 Cloud 100—the definitive ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures. The company ranked #48 this year, rising 16 spots from last year's placement.
As part of the rigorous selection process for the Forbes 2020 Cloud 100, Bessemer Venture Partners received submissions from hundreds of cloud startups. The Cloud 100 Judging Panel, made up of public cloud company CEOs, reviewed the data to select, score, and rank the top 100 private cloud companies from all over the world. The evaluation process involved ranking companies across four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people & culture (15%).
"Remote work is surging like never before, and to keep up, organizations around the world are embracing cloud technologies to best serve a disparate workforce. However, cybercriminals are also capitalizing on this trend, as cloud phishing and cloud malware delivery have been the two most common attack vectors so far in 2020," said Sanjay Beri of CEO of Netskope. "Netskope was built with a cloud-first mentality, so we are better positioned than any other company to protect customers' sensitive data as organizations undergo a digital transformation overhaul. We are honored that Forbesrecognizes our leadership for the fourth time, and we look forward to continued innovation to remain on the forefront of the ever-growing cloud industry."
Following Gartner's architectural framework for "secure access service edge" (SASE), Netskope is the only company in the market that has addressed shifting demands by combining next-generation SWG capabilities, the world's leading CASB, zero trust secure access, and advanced machine learning to detect unauthorized data exfiltration and advanced threat protection. Netskope delivers inline security services through a carrier-grade, next-generation global infrastructure called Netskope NewEdge. In addition, Netskope's deep understanding of the cloud and data-centric approach empowers security teams with the right balance of protection and speed they need to secure their remote-first workforce and advance their digital transformation journey.
"The private cloud ecosystem continues to mature in light of rapid digital transformations, making the competition to land one of the coveted spots on the Cloud 100 list steeper than ever," said Byron Deeter, a top cloud investor, and partner at Bessemer Venture Partners. "Private cloud valuations are getting bigger as the market's appetite for cloud continues to grow. Over the past five years, the average Cloud 100 valuation has grown by a tremendous 2.5x, from $1 billion in 2016 to $2.7 billion in 2020. In fact, our 2020 Cloud 100 includes over 87 private cloud unicorns! These founders represent the absolute best in cloud computing today, and they will most certainly follow in the footsteps of our esteemed Cloud 100 alumni. More than a third of the companies of the Cloud 100 have exited either via strategic M&A, financial M&A or Initial Public Offering. Congratulations to these cloud leaders!"
"For five years now, we have ranked the best and brightest emerging companies in the cloud sector," said Alex Konrad, Forbes editor of The Cloud 100. "With so many businesses growing fast in the cloud, from data infrastructure to marketing, it's harder than ever to make the Cloud 100 list—but with more elite company if you do. Congratulations to each of the 2020 Cloud 100 honorees and the 20 Rising Stars honorees poised to join their ranks!"
The Forbes 2020 Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100 and will appear in the September 2020 issue of Forbes magazine.
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