Cloud cybersecurity firm Netskope raised $908.2 million in its U.S. initial public offering, the company said on Wednesday. The Santa Clara-based firm sold about 47.8 million shares at $19 each, pricing at the top of its target range of $17 to $19 per share.
The IPO gives Netskope a valuation of $7.26 billion, slightly below the $7.5 billion it reached in a 2021 funding round led by ICONIQ. Investor demand for new listings has surged in recent weeks, following a string of strong debuts that helped ease earlier concerns tied to President Donald Trump’s tariffs, which had delayed several offerings earlier this year.
A wave of companies—from crypto platforms and fintechs to biotechs and coffee chains—has hit the market since Labor Day, signaling renewed appetite for IPOs. Earlier Wednesday, StubHub (STUB.N) also began trading on the NYSE in a closely watched consumer-focused debut.
Founded in 2012, Netskope develops cloud-based cybersecurity software that protects apps, websites, and data against digital threats. Cybersecurity has become a core budget item for global enterprises as attacks grow in frequency and sophistication.
Netskope reported revenue of $328 million in the six months ending July 31, up from $251 million a year earlier, while narrowing its net loss to $170 million from $207 million.
Morgan Stanley and J.P. Morgan led the offering, with Netskope set to trade on the Nasdaq under the ticker “NTSK.”