SentinelOne is seeking to expand its total addressable market through security acquisitions and strategic investments. The effort includes hiring Cisco Systems veteran Rob Salvagno to lead corporate development, according to SentinelOne Chief Operating Officer Nick Warner.
Salvagno led Cisco's corporate development team responsible for all M&A and investment activities from 2015-2020, according to his LinkedIn bio.
During Salvagno's leadership period, Cisco acquired approximately 29 companies for a total announced deal value of roughly $15 billion -- including OpenDNS, AppDynamics, Viptela, Duo Security and Acacia, his LinkedIn bio indicates. Moreover, Cisco invested roughly $200 million annually during his leadership period.
SentinelOne Acquisitions and Venture Capital Investment Targets
Where might SentinelOne spend its investment dollars? "As we consider acquisitions, we evaluate prospects that align with our product, customer and strategic market opportunities. Over time, we intend to use these opportunities to extend the reach of our XDR platform into adjacencies that complement our offerings," Warner told Wall Street analysts during SentinelOne's quarterly earnings call on December 7, 2021.
On the strategic investment front, SentinelOne joined an early funding round for Laminar, which aligns with SentinelOne's approach to automation and APIs (application programming interfaces), Warner said.
On the M&A front, the Scalyr acquisition from February 2021 "is performing extremely well and has continued to grow year-over-year and quarter-over-quarter," he added. The acquired software provides customers with faster performance and advanced analytics capabilities, he said.