SentinelOne Funding: $267M Round, $3 Billion Valuation Amid IPO Plans
SentinelOne has raised $267 million at a $3 billion valuation, and the endpoint security software provider could launch an initial public offering (IPO) by 2021, SentinelOne CEO Chief Executive Tomer Weingarten apparently indicated.
Details about SentinelOne’s latest funding surfaced on Reuters. An official media announcement is expected sometime today (Wednesday, November 11). In the meantime, according to the Reuters report:
- Venture capitalists Tiger Global and Sequoia were involved in this latest funding round.
- Insight Partners and Third Point Ventures also participated in the funding round.
- SentinelOne plans to use the funding for acquisitions and expansion in new markets including Asia.
- The company expects to double its revenue in 2020 compared to 2019, though actual revenue and profit figures were not disclosed.
- SentinelOne previously raised $200 million in February 2020 — at a valuation of $1.1.
SentinelOne Endpoint Security for MSPs, MSSPs
Anecdotal evidence suggests thousands of MSPs and MSSPs have been embracing SentinelOne to mitigate potential ransomware attacks, according to MSSP Alert’s lengthy history covering the company.
Key partners include SolarWinds MSP, which leverages SentinelOne’s software for an Endpoint Detection and Response (EDR) solution that works with RMM (remote monitoring and management) software.
Overall, SentinelOne claims to be a 100 percent channel-focused business.
SentinelOne: Key Hires
In a march toward a potential Initial Public Offering (IPO), SentinelOne continues to expand its executive team and channel partner-focused talent. Key moves include:
- Hiring Silver Peak, Splunk and Palo Alto Networks veteran Ken Marks as its VP of worldwide channels.
- Hiring Brian Hussey as its VP of cyber threat response to lead its Vigilance Managed Detection & Response (MDR) program.
- Appointing David Bernhardt as its CFO and Patty Trexler as its VP of government, healthcare and education.