Netskope Achieves $500 Million in Annual Recurring Revenue

 Netskope, a leader in Secure Access Service Edge (SASE), today announced that Gartner, Inc., has recognized the company as a Leader in the 2024 Magic Quadrant for Single-Vendor SASE. Fresh off of Netskope being named a Leader for the third consecutive year in the Magic Quadrant for Security Service Edge (SSE), this latest market recognition arrives during a period of unprecedented growth for the company, which has surpassed $500 million in annual recurring revenue—outpacing the annual growth of the SASE market—and today is trusted by thousands of customers and tens of millions of users worldwide.

SASE architecture is proving its necessity, especially as work-from-anywhere models create employee expectations of secure, easy, performant access to the SaaS, cloud, web, and private applications needed to run a productive business. At the same time, an associated surge in security threats and performance challenges, as well as new data security risks presented by the adoption of generative AI applications, have stressed legacy technology architectures to the point of ineffectiveness—unable to keep up with the demands of a cloud-first, AI-ready workforce.

As a result, organizations are increasingly choosing SASE architecture as a simple and scalable way to stop threats, prevent unauthorized access to apps and data, and guarantee network performance. According to Gartner, the SASE market will expand at a compound annual growth rate (CAGR) of 29%, reaching over $25 billion by 2027. Related to SASE adoption, Gartner also notes that by 2027, “65% of new software-defined wide-area network (SD-WAN) purchases will be part of a single-vendor SASE offering, an increase from 20% in 2024.

As an often-recognized market leader in SASE, SSE, and zero trust, Netskope helps organizations address their most critical cloud, SaaS, web, and private application security needs as well as their most persistent network performance challenges, all at once. The Netskope One platform enables both security and infrastructure and operations (I&O) teams to reduce risk, cost, and complexity. Combining SSE, SD-WAN, and Netskope NewEdge infrastructure, Netskope One SASE is the only fully converged SASE offering that can deliver these capabilities using one engine, one client, one gateway, and one network.

“Netskope was built on the idea that a converged approach to security and networking is necessary to address rapid shifts in how teams work, where data resides, and how businesses keep technology secure and optimized,” said Sanjay Beri, CEO and Co-Founder, Netskope. “Today, Netskope delivers a complete 

range of SASE capabilities tailored for various customer sizes and technology environments, ranging from midmarket businesses to large enterprises requiring the advanced SASE capabilities other single-vendor SASE vendors simply can’t provide. We are honored to again be recognized by Gartner, and grateful to the partners and customers whose trust we earn every day.”