The two Canadian pension funds are new investors in Netskope, which is now valued at about US$3 billion. Sequoia led the round and existing investors including Social Capital and Accel participated. (The Logic)
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The two Canadian pension funds are new investors in Netskope, which is now valued at about US$3 billion. Sequoia led the round and existing investors including Social Capital and Accel participated. (The Logic)
Talking point: Both the Canada Pension Plan Investment Board and the Public Sector Pension Investment Board have been increasing their exposure to the tech sector. CPPIB participated in at least four tech investments last year and added Mark Evans, a former partner at Silicon Valley VC firm Benchmark Capital to its board. In June 2019, PSP participated in a US$205-million round for software firm Collective Health. Netskope has roughly tripled its valuation as of fifteen months ago. The company provides cloud security for users of a variety of platforms, including Amazon Web Services, Google Cloud and Microsoft’s Azure. The Canadian pension funds backing comes as my colleague Fatima reports that all three of those cloud services are significantly stepping up their presences in Canada.
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