Sanjay Beri, CEO and founder of Netskope Inc., listens during a Bloomberg West television interview in San Francisco, California.
David Paul Morris | Bloomberg | Getty Images
Netskope is targeting a $7.3 billion valuation in its upcoming initial public offering, after lifting its planned price range.
The cybersecurity company said it plans to sell 47.8 million shares at between $17 and $19 apiece. The deal would raise as much as $908 million at the top end.
That’s up from a previous range of $15 to $17 a share the company revealed in a filing last week, at a $6.5 billion valuation.
The cloud security company revealed plans to go public on the Nasdaq in a filing last month. Its planned debut comes amid an influx of big cybersecurity deals and during a resurgence in IPO activity after soaring inflation and interest rates squashed appetite for tech deals.
Cybersecurity deals have topped the list of this year’s biggest tech acquisitions.
The frenzy was highlighted by Google’s $32 billion acquisition of Israeli cloud security startup Wiz in March. Palo Alto announced this summer that it is buying identity security company CyberArk for $25 billion. Thoma Bravo-backed SailPoint went public in February.
As tariff headwinds eased, companies increasingly looked to the public markets.
Design platform Figma and Circle more than doubled in their recent market debuts. CoreWeave has more than tripled since its IPO.
After putting the brakes on IPO plans earlier this year with President Donald Trump’s tariff plans roiling global markets, Klarna jumped 15% in its New York Stock Exchange debut last week. Ticket reseller StubHub is also planning a debut this month.
Netskope will debut under the ticker symbol “NTSK.” The company reported a net loss of $170 million during the first half of the year in its prospectus filing.
The California-based company, founded in 2012, operates in the cloud access security space, helping firms protect against cyber threats. Netskope named Palo Alto Networks, Cisco and Broadcom among its competitors in its IPO filing.
