SentinelOne, an endpoint protection cybersecurity software company, has secured $200 million in Series E funding led by private equity firm Insight Partners, raising its total valuation to $1.1 billion.
Series E funding rounds are late-stage events that typically set the stage for a potential IPO or strategic company sale. Still, Insight Partners often maintains its investment stakes for multiple years, so the runway to a SentinelOne IPO or strategic sale could be a long one, MSSP Alert believes.
Either way, SentinelOne appears to have endpoint protection and cybersecurity business momentum with MSPs, managed security services providers (MSSPs) and MDR (managed detection and response) companies.
The Series E financing news comes after SentinelOne earlier this week unveiled its Singularity Platform — a data lake that blends data culled from endpoint detection and response (EDR), endpoint protection, Internet of Things (IoT) security and cloud workload protection offerings. SentinelOne will showcase Singularity at next week’s RSA Conference 2020 in San Francisco, California.
How Did SentinelOne Perform in 2019?
Some of SentinelOne’s accomplishments in 2019 included:
104 percent year-over-year revenue growth.
134 percent net customer retention rate.
150 percent year-over-year growth in transactions over $2 million.
SentinelOne was the seventh-fastest growing company in North America last year, the business said. Furthermore, SentinelOne was the only endpoint protection company on the Forbes AI 50 list.