Netskope reached a valuation of US$8.8 billion as its shares rose 21% in its Nasdaq debut on September 18.

The Santa Clara, California-based company provides cloud-based security software to protect corporate apps, websites, and data.

Netskope sold 47.8 million shares at US$19 each, raising US$908.2 million in its IPO, and shares opened at US$23 apiece, above the offer price.

The company was last valued at over US$7.5 billion in a 2021 funding round led by ICONIQ.

🔗 Source: Reuters