Lightspeed Invests in TripActions and Netskope

Palo Alto – November 29, 2018 – Cooley advised Lightspeed Venture Partners on separate investments involving corporate travel management platform TripActions and cloud security company Netskope. Partner Kevin Rooney headed the Cooley team advising Lightspeed on the transactions.

Lightspeed participated in TripActions’ $154 million Series C funding round, which brought the company’s valuation to more than $1 billion. The round was led by Andreessen Horowitz and included participation from Zeev Ventures and SGVC.

“At Lightspeed, we’re extremely excited about our long partnership with the TripActions team as they rethink the business travel market and bring the power of machine learning, cloud computing and modern applications to business travelers,” said Arif Janmohamed, a partner at Lightspeed, in a blog post.

Separately, Lightspeed led Netskope’s $168.7 million Series F funding round, which brought the company’s total amount raised to $400.1 million. Accel, Geodesic Capital, Iconiq Capital, Sapphire Ventures, Social Capital and Base Partners also participated in the round.

“Transforming enterprise security is no longer a nice-to-have, but a requirement in order to protect and secure a company’s most important assets,” Janmohamed said in a news release. “Netskope consistently leads the market and is disrupting and transforming the industry landscape through solving some of the toughest enterprise challenges today.”

Lightspeed is a venture capital firm focused on accelerating disruptive innovations and trends in the enterprise and consumer sectors. Over the past two decades, Lightspeed has helped build 350+ companies globally, including Snap, The Honest Company, GrubHub and Nest.

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Related Contacts
Kevin Rooney  Partner Palo Alto
David Burns  Special Counsel Washington, DC