Netskope Bullish On India's Lucrative Market: Tony Burnside

Could you tell us about the importance of APAC market and India for Netskope?

Within a month of being founded and funded, we opened our India office with a leader who has a track record in the industry. We didn't just hire a couple of engineers; we demonstrated that we are serious about this market by hiring an industry veteran. As we have grown in the APAC region, our investment in infrastructure, particularly our data planes, has been significant. We have four data planes in Australia, one in New Zealand, and five in India. We were the second region globally in APAC to establish a management plane, which is where metadata is stored. Outside of the US, we are investing heavily in the APAC region because we see immense potential there. We truly believe in the growth opportunities and potential of the APAC region, including India. In fact, if I could add three people to my team, I’d add two in India.

There’s a reported dip in the number of deals in IT industry due to the macroeconomic conditions, how is the scenario for cybersecurity vendors?

Decisions are now subject to more scrutiny and require additional checks and balances, but the drive for progress remains unwavering. As companies seek to reduce their carbon footprint and increase efficiency, the cloud offers a compelling solution that allows for agility and operational advancements previously unattainable in on-premises environments. So, the investments continue to happen.

Tell us about the Total Addressable Market (TAM) for Netskope. 

Estimating the total addressable market is challenging given the dynamic nature of our offerings. Initially, we started as a cloud access security broker solely focused on safeguarding SaaS applications. Presently, our database tracks a staggering 60,000 SaaS applications, reflecting our expansion. We have evolved into a comprehensive platform that addresses various security needs. Organisations and end-users now seek a platform approach instead of standalone products.

The flexibility we provide allows users to start with a specific functionality, such as a secure web gateway, and seamlessly add more features. We can activate additional capabilities within minutes since they are built upon the same underlying platform and microservices. Whether it's data leakage prevention, threat prevention, or other security aspects, the engines remain consistent, applied to different threat vectors. Consequently, the estimated total addressable market could be about USD 70 billion.

In a recent interview, a CEO told us that there could possibly be a USD 1 trillion company in the cybersecurity sector (in future). What are your views on this?

While there can certainly be a USD 1 trillion company in the cybersecurity sector, I believe there could be multiple. The sheer number of cybersecurity companies in existence today suggests that consolidation is inevitable. Being a niche player or relying solely on being the best of breed is no longer a sustainable approach. We, along with other vendors, have recognised this and have made acquisitions to augment our technology offerings. Additionally, securing significant funding for new companies in this space may become more challenging in the current economic climate. Enterprises are seeking comprehensive cybersecurity platforms that can address a majority of their needs, while still allowing room for specialised solutions. Relying solely on a single vendor may not be wise, so organisations are likely to engage with three to five strategic vendors to protect their interests.