Earlier today we announced that Accel Partners and a new board member in Eric Wolford would be joining our fast growing stellar team, and leading a substantial new investment in the company. I wanted to take a moment to share my personal thoughts about this announcement and where Netskope is headed.
First and foremost, we’re simply delighted to have Eric join the Netskope board. He brings a wealth of experience including his most recent role as President of the Products Group at Riverbed Technologies where he helped take the company public and deliver growth from 0 to $1B in revenue. In addition to the experience he brings, it was gratifying to discover that we were of same mind when it came to fueling Netskope’s growth and solving the challenges our customers are facing. And not only did we have this same philosophy, we also had a very good meeting of the minds when it came to the trajectory of the company and the market. This alignment was seen across the entire board of directors, including Enrique, and our existing investors The Social+Capital Partnership and Lightspeed Venture Partners.
Regarding the market, this is an exciting time. Over the past 12 months we’ve seen tremendous demand as more and more CIOs and CISOs alike recognize that cloud and SaaS applications are literally taking over and that the business processes that run on these services have graduated well beyond “nice to have” and in many cases are considered business-critical. The market is literally taking off. From a product point of view we’re noticing that customers across every vertical are recognizing that addressing this challenge is best done when you know the real time context around cloud usage – for sanctioned and unsanctioned apps, and inclusive or remote/mobile users. It’s not enough for customers to just discover the app is being used; they want to have a more thoughtful conversation with the business about the type of transactions and activities being performed that expose the company to greater security and compliance risks. They don’t want to say “that app you love… we