Similar to other rounds, the company was not actively seeking new capital, but that it was “an inside round with people who know everything about us,” Beri said. Prior to that, it was a $168.7 million round at the end of 2018.
With this new round, Netskope continues to rack up large rounds: it raised $340 million last February, which gave it a valuation of nearly $3 billion. “The theory is that digital transformation is inevitable, so our vision is to transform that market so people could do that, and that is what we are building nearly a decade later.” “What we had before in the market didn’t work for that world,” he said. Netskope co-founder and CEO Sanjay Beri told TechCrunch that since its founding in 2012, the company’s mission has been to guide companies through their digital transformation by finding what is most valuable to them - sensitive data - and protecting it. The oversubscribed insider investment was led by ICONIQ Growth, which was joined by other existing investors, including Lightspeed Venture Partners, Accel, Sequoia Capital Global Equities, Base Partners, Sapphire Ventures and Geodesic Capital. “ICONIQ shares this vision and we are humbled to have their support in this journey, advancing our commitment to help our clients transform their businesses and grow.Netskope, focused on Secure Access Service Edge architecture, announced Friday a $300 million investment round on a post-money valuation of $7.5 billion. As we continue to better position ourselves to meet the needs of our clients, we have worked to remove the silos traditionally associated with portfolio management, order management, trading, operations, accounting, IR, and many other services,” said Thomas Kim, CEO of Enfusion. “Our job is to empower and support investment managers wherever they are in their operational journey. Our investment in Enfusion is representative of our commitment to invest in best-in-class, long-view technology businesses – and we are excited to collaborate with their experienced management team during their next phase of strategic growth.” As an investment management firm, we deeply understand the importance of digital transformation in the industry and how it can build more sustainable relationships and better understanding of clients’ evolving needs. “We believe Enfusion has developed a highly differentiated and groundbreaking platform that is creating a new standard for native-cloud asset management solutions and modernizing a historically outdated approach to the front, middle and back office experience. “We are delighted to support Enfusion in its efforts to radically disrupt the investment management solution space,” said Roy Luo, Principal at ICONIQ Growth. Read More: Prepare for Treasury & Risk Management Transformation with These 5 Tips At a time in which many investment managers are moving out of legacy systems to remove operational bottlenecks impacting the bottom-line, ICONIQ Growth’s investment reinforces the value of Enfusion’s proven cloud-native SaaS-based approach to solving this growing industry challenge.
Cloud iconiq growth 7.5b software#
Over the last several years, traditional and alternative asset managers using Enfusion’s integrated front-to-back office software and services have used the platform to simplify their workflows, reduce their technology footprints and unify their data, ultimately allowing them to focus more on productivity and investment decision-making. ICONIQ Growth joins FTV Capital and Hillhouse Capital as institutional investors in the company. In line with Enfusion’s continued profitability and growth, this funding values the Company at $1.5 billion. The funding is an endorsement of Enfusion’s pioneering cloud-native SaaS approach to breaking technological barriers and removing informational and operational constraints for its investment management clients. Read More: GlobalFintechSeries Interview with John Dangoia, VP and Head of Product Management at Infosys Finacle Enfusion, a global leader in investment management technology solutions and services, announced that it has received a $150 million minority investment from ICONIQ Growth.
0 kommentar(er)
