Just eight months after raising $120 million, cybersecurity company SentinelOne has raised a $200 million Series E round at a $1.1 billion valuation.
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The company now has raised $430 million in known venture capital funding to date, per Crunchbase data.
Insight Partners led the latest round, with participation from Tiger Global Management, Qualcomm Ventures LLC, Vista Public Strategies of Vista Equity Partners, Third Point Ventures and more. The cash will be used to meet customer demand, according to a release.
Tomer Weingarten, Almog Cohen and Ehud Shamir founded the Mountain View startup in 2013 to tackle cybersecurity woes through automation. The idea, and differentiator, of SentinelOne is that the company uses artificial intelligence to fight endpoint attacks on security in real time.
Let’s pause here and unpack what endpoint means. In the cybersecurity context, endpoint security “refers to a methodology of protecting the corporate network when accessed via remote devices such as laptops or other wireless and mobile devices. Each device with a remote connecting to the network creates a potential entry point for security threats,” according to Webopedia. Think of SentinelOne as a wave of protection that covers all the external ways you log into your company: whether it’s your company laptop or phone, or personal laptop or phone. Each is a separate endpoint, and from a security angle, a separate way to hack into sensitive information.
When we last caught up with co-founder and CEO Weingarten, he explained the upside of trusting automation.
“It allows [companies] to really, in some cases, automate away the tier-one analyst role and really focus on high-level investigation,” Weingarten said back in June.
In terms of growth statistics, the company did not share net or adjusted revenue, but said it has more than 3,500 customers to date.
Illustration: Li-Anne Dias
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