Zscaler is a cloud-native cybersecurity company that sells Zero Trust network security to large enterprises and government agencies. Its core platform, the Zero Trust Exchange, is a globally distributed cloud that sits inline between users, devices, and applications — replacing traditional firewalls and VPNs. The two anchor products are ZIA (Zscaler Internet Access), which secures outbound internet and SaaS traffic, and ZPA (Zscaler Private Access), which replaces VPNs by giving users access to internal applications without placing them on the corporate network. Zscaler has expanded into four broader solution areas: Zero Trust Everywhere (users, branch, and cloud workloads), Data Security Everywhere (DLP, CASB, DSPM, and related modules), Security for AI (securing enterprise use of GenAI apps and private AI infrastructure), and Agentic Operations (SecOps and IT Ops powered by AI). Zscaler sells annual subscriptions on multi-year contracts, with revenue recognized ratably. ARR is the primary growth metric. Growth comes from landing new enterprise logos — typically starting with ZIA and ZPA — and then expanding into additional users, modules, and solution pillars. Upsell represents roughly two-thirds of new ACV. Zscaler uses a channel-assisted model, with a direct enterprise sales force supported by telcos, system integrators, and resellers. Gross margins run around 80%, and the company has expanded operating margins significantly as it scales.