Cybersecurity company Netskope announced on Tuesday that it has raised its proposed offering price range and is now seeking a valuation of up to $7.26 billion through its U.S. initial public offering (IPO), highlighting investor appetite for high-growth technology stocks.

Netskope's IPO marks the second notable cybersecurity sector public offering in New York markets for 2025, following SailPoint's listing in February, which was backed by Thoma Bravo. The offering comes amid growing momentum in the Secure Access Service Edge (SASE) market, driven by stricter data privacy regulations and the rise of AI-powered threats.

The Santa Clara, California-based company now plans to raise up to $908.2 million by offering 47.8 million shares priced between $17 and $19 per share, up from its previous range of $15 to $17 per share.

This new target valuation brings Netskope closer to its 2021 funding round valuation, when the company was valued at $7.5 billion in a financing round led by investment firm ICONIQ.

While SailPoint previously expanded its IPO size and priced at the top of its range, the stock failed to gain momentum following its market debut.

Founded in 2012, Netskope develops cloud-based security software that helps enterprises protect applications, websites, and data from cyber threats.

In the rapidly expanding SASE market, Netskope competes with companies including Broadcom, Cisco, Fortinet, Palo Alto Networks, and Zscaler.

For the six months ended July 31, Netskope reported revenue of $328 million with a narrowed net loss of $170 million, compared to revenue of $251 million and a net loss of $207 million in the same period last year.

Morgan Stanley and J.P. Morgan serve as lead underwriters for the offering. Netskope will list on the NASDAQ under the ticker symbol "NTSK."