Netskope taps Morgan Stanley for U.S. IPO, Reuters reports

Cybersecurity firm Netskope has hired Morgan Stanley (MS) to lead preparations for a U.S. initial public offering, according to a Reuters report by Echo Wang and Milana Vinn. Netskope is aiming to go public as early as the third quarter of this year, potentially raising over $500M with a valuation that could exceed $5B, sources indicated, though these plans are subject to market conditions. Founded in 2012, Netskope provides cloud-based security software, competes with firms like Rubrik (RBRK) and Zscaler (ZS), and was valued at $7.5B in 2021. CEO Sanjay Beri previously told Reuters in June 2024 that an IPO would help grow brand awareness for the company.