News Summary

Netskope, a 13-year-old cloud cybersecurity platform, is preparing for a rare IPO in the cybersecurity sector. Backed by Lightspeed Venture Partners, Netskope aims for a valuation of up to $6.5 billion. Lightspeed, which first invested in Netskope in 2013, holds a 19.3% stake, potentially translating to a $1.1 billion value. Other major investors include ICONIQ Growth and Accel. Despite revenue growth to $328.5 million and a narrowed net loss, Netskope remains unprofitable. The IPO follows other companies like Rubrik, Chime, and Hinge Health, which debuted below their private valuations. Netskope competes with Zscaler and Palo Alto Networks in providing secure web gateways and firewall services.