Cloud app analytics specialist Netskope has received a $21m cash injection from The Social+Capital Partnership and Lightspeed Venture Partners.
The Los Angeles-based startup noted that businesses now use apps for a wide range of purposes including CRM, data and analysis and cloud storage And employees use unsanctioned apps, which are difficult for IT to manage and secure.
Netskope said its technology allows employees to use their favourite cloud apps, while enabling businesses to optimise cloud usage.
The company will use the funds for sales expansion and product development to meet growing market demand.
Netskope CEO Sanjay Beri said, “cloud apps are the inevitable future because because they let people go fast and work flexibly. Up until now, IT couldn’t embrace cloud apps because they couldn’t see what apps were running, what people were doing in them, or enforce policies.
“We created Netskope to eliminate the catch-22 between being agile and being secure.”