SentinelOne announced that it raised $200 million in new growth funding, bringing the company’s total earned to $430 million since its founding in 2013. The Series E funding was led by new investors Insight Partners, Tiger Global Management, and Third Point Ventures and raises the endpoint protection platform’s valuation to $1.1 billion. The injection will enable SentinelOne to strengthen its position in the endpoint security space.
SentinelOne offers an endpoint protection platform designed to prevent and mitigate threats throughout its lifecycle. The solution uses a Static AI engine to provide pre-execution protection while replacing traditional signature-based detection. Moreover, SentinelOne features Behavioral AI engines that can automatically detect and respond to malicious activities. The engines are described as “vector-agnostic” and thus recognizes malware, scripts, lateral movements, and fileless malware. Its Automated EDR provides forensic data, mitigate threats automatically, and perform network isolation.
In an exclusive statement to Solutions Review, SentinelOne’s Chief Product Officer Raj Rajamani shared the company’s plans for the funding:
“We plan to use the Series E proceeds to grow our sales team, invest in marketing and RnD. We are increasing the number of sales teams globally, setting up a new European Sales HQ in Amsterdam with centralized Inside Sales and Sales Operations for EMEA. We also plan to increase our investment in a few countries in APJ where we have strong partnerships already.”
“As the industry undergoes consolidation, raising our profile is going to be very important to increase demand. We plan to do so through innovative marketing campaigns like Zero2Hero, high-value collateral, and brand marketing efforts. As a product company, continued product innovation is very important to us. We will grow our RnD team and also look for technology infusion from targeted M&A plays.”
According to Crunchbase News, SentinelOne raised $120 million just eight months prior to this funding round. Prior to that, it raised $70 million in January 2017.
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