Cybersecurity company Netskope just priced its IPO at $19 per share, hitting a $7.3 billion valuation at the top of its expected range and raising $908 million. The Santa Clara-based cloud security firm starts trading Thursday on Nasdaq under "NTSK," joining a wave of high-profile tech IPOs that's finally breaking the market's years-long drought.
Netskope just delivered what the IPO market's been waiting for - a clean exit at the top of the range. The cybersecurity company priced shares at $19 Wednesday night, hitting its maximum target and valuing the business at $7.3 billion. Trading starts Thursday on Nasdaq under ticker "NTSK" with $908 million raised.
The pricing caps a week of strong momentum for Netskope. The company bumped its expected range to $17-19 from an original $15-17 after investor meetings showed solid demand. According to SEC filings, the cloud security specialist had been quietly preparing this debut since revealing IPO plans last month.
Netskope's timing couldn't be better. The IPO window that slammed shut during the Fed's rate-hike cycle is finally creaking open again. CoreWeave went public in March and saw shares triple after a flat debut. Swedish fintech Klarna jumped 15% in its recent listing, while Figma and stablecoin issuer Circle have both surged since their market debuts.
"The long-overdue resurgence has fueled optimism on Wall Street," according to CNBC's market analysis. Venture capital firms that've been sitting on paper gains for years are finally seeing exit opportunities materialize.
But Netskope isn't just riding the IPO wave - it's hitting the market during a cybersecurity M&A frenzy. Google dropped a massive $32 billion on Israeli cloud security startup Wiz earlier this year, while Palo Alto Networks shelled out $25 billion for CyberArk. The deals signal how desperately enterprise customers need cloud security as AI threats multiply.
CEO and co-founder Sanjay Beri has built Netskope into a formidable player since launching in 2012. The company now serves 4,317 customers across 90 countries with 2,910 employees, competing directly with giants like , , , and in the secure access service edge (SASE) market.
