Security software provider SentinelOne continues to expand its reach with MSSPs, MDR (managed detection and response) and IR (incident response) service providers, company executives told Wall Street analysts during a September 8, 2021, earnings call.
The effort involves a new channel partner training and accreditation program that SentinelOne launched earlier this year. So far, SentinelOne has issued more than 2,000 accreditations to date, according to Chief Operating Officer Nicholas Warner.
"We partner with MSSPs, MDRs, and incident response companies," Warner added. "We equip them with industry-leading capabilities and in return we get tremendous market access and scale. We don't compete with them. We support and enable their business. We're rapidly expanding this ecosystem and it is driving meaningful growth for us."
SentinelOne: Incident Response Partners Are Fastest-Growing Channel
In Q2, SentinelOne added over a dozen additional incident response partners. Key additions include Kroll, Alvarez & Marsal and Group IB, Warner said. Those partners use SentinelOne to understand a security incident, stop the attack and remediate the network, he asserted.
"These are the go-to experts who cyber insurers and boards call when there is a breach," Warner said. "In fact, our incident response partner ecosystem is our fastest growing channel."
The channel partnerships, in turn, are fueling SentinelOne's rapid growth. For instance, total revenue was $45.8 million in the second quarter of fiscal year 2022, a 121 percent increase compared to $20.7 million for the same period of fiscal 2021, the company announced on September 8, 2021. Also, total customer count grew more than 75 percent year-over-year to over 5,400 customers as of July 31, 2021.
SentinelOne Cybersecurity Product Portfolio
SentinelOne's overall cybersecurity software portfolio now spans XDR (eXtended Detection and Response); network visibility and control; container and cloud workload security; advanced threat intelligence; and an associated data management platform.
Channel partners generated 92 percent and 96 percent of SentinelOne’s revenue for fiscal 2020 and fiscal 2021, respectively, according to the company's IPO-related SEC filings in 2021.