Data loss prevention software

Lightspeed and Accel lead $100 million investment in cloud security startup Netskope

Netskope platform

Netskope, a cloud security startup that helps companies secure their data stored in the cloud, announced today funding of $100 million in a round co-led by Lightspeed Venture Partners and Accel. Existing investors Social Capital and Iconiq Capital also participated in the round, as did new investors Sapphire Ventures and Geodesic Capital.

“A third of all business data has moved to the cloud, which has created a huge compliance gap,” wrote Netskope’s cofounder and CEO Sanjay Beri, in an email to VentureBeat. “In our data alone, we see that nearly 50 percent of all uploads to cloud violate data loss prevention policies set by our customers.”

Another layer of threats Beri described are what he…