SentinelOne raises $200 million to accommodate customer demand and accelerate growth

SentinelOne, the autonomous endpoint protection company, announced it has raised $200 million in Series E funding led by global venture capital and private equity firm Insight Partners, with participation from Tiger Global Management, Qualcomm Ventures LLC, Vista Public Strategies of Vista Equity Partners, Third Point Ventures, and previous investors.

The round elevates SentinelOne’s valuation to $1.1 billion. The funding will enable SentinelOne to continue accommodating record breaking customer demand and accelerate growth as the world’s next great cybersecurity platform.

SentinelOne’s explosive growth is a testament to the company’s ability to execute, staying one step ahead of the ever-evolving threat landscape while shaping and disrupting multiple categories. SentinelOne is the first to expand from cloud-native endpoint protection to a full cybersecurity platform — that protects and monitors every asset in the enterprise.

Leveraging patented behavioral and static AI models, SentinelOne seamlessly unifies endpoint protection (EPP), endpoint detection and response (EDR) with ActiveEDR, IoT control with SentinelOne Ranger, and container and cloud-native workload protection into the Singularity Platform for an unprecedented level of autonomous protection.

“The cybersecurity demands of today’s enterprises have evolved, and we’ve taken endpoint protection far beyond what it once was. Instead of solely protecting laptops, desktops, and servers with EPP and EDR capabilities, we protect the entire network edge with flexible, autonomous technology — from containerized workloads in the cloud and data center to IoT devices,” said Tomer Weingarten, CEO and Co-founder, SentinelOne.

“Leveraging AI to process enormous amounts of data in real time allows our customers to stay secure from all vectors of attack. Delivering value to customers well beyond the traditional endpoint is what positions SentinelOne as the fastest growing and most promising cybersecurity platform.”

In 2019, SentinelOne was named the seventh fastest growing company in North America, the fastest growing in Silicon Valley, and was the only cybersecurity company recognized in the top 10 of the Deloitte Technology Fast 500.

SentinelOne was also the only endpoint protection company on the Forbes AI 50 list, recognizing the 50 most promising companies using AI as a core part of its business model and success.

SentinelOne serves 3 of the Fortune 10 and hundreds of Global 2,000 enterprises amongst its more than 3,500 customers. Additional growth points highlighting the company’s business traction include:

  • 134% net customer retention rate
  • 113% YoY new logo bookings growth
  • 104% YoY revenue growth
  • 150% YoY growth in transactions over $2MM

“Competition in the endpoint market has cleared with a select few exhibiting the necessary vision and technology to flourish in an increasingly volatile threat landscape,” said Teddie Wardi, Managing Director, Insight Partners.

“As evidenced by our ongoing financial commitment to SentinelOne along with the resources of Insight Onsite, our business strategy and ScaleUp division, we are confident that SentinelOne has an enormous opportunity to be a market leader in the cybersecurity space.”

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SentinelOne raises $200 million to accommodate customer demand and accelerate growth