Expanding the Cybersecurity Platform of the Future, SentinelOne Capitalizes on Unprecedented Global Market Traction in the Largest Endpoint Security Funding Round of 2019
SentinelOne, the autonomous endpoint protection company, announced it has raised $120 million in Series D funding led by Insight Partners, with participation from Samsung Venture Investment Corporation, NextEquity and previous investors including Third Point Ventures, Redpoint Ventures, Granite Hill and Data Collective (DCVC), among others. The round brings SentinelOne’s total funding to more than $230 million. The funding will be used to accelerate the company’s rapid displacement of legacy and next-gen competitors in connecting endpoint, cloud, and IoT protection through its autonomous AI platform deployed throughout the enterprise.
As enterprises continue replacing legacy antivirus at scale, their expectations have evolved. SentinelOne’s patented Behavioral AI delivers real time prevention and ActiveEDR from edge to cloud – through a cloud-native platform with no reliance on connectivity or updates. With SentinelOne Ranger, IoT devices are capable of discovery and enforcement, bringing unprecedented innovation to endpoint security and expanding the definition of an enterprise security platform. Delivering unrivaled efficacy and nuanced EDR capabilities through fully autonomous technology, SentinelOne is achieving extremely high proof of concept win rates across all next-gen and legacy AV vendors on a global scale. SentinelOne will use the new funding to accelerate go-to-market efforts to meet overwhelming global demand and deliver product enhancements to continuously evolve enterprise security.
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“We’ve built a team and technology to disrupt and broaden the endpoint space: as the network perimeter is drastically changing, so does the notion of the endpoint,” said Tomer Weingarten, CEO and Co-founder, SentinelOne. “Endpoints are everywhere today, from classic laptops and desktops, to workloads in the cloud and the datacenter, and all IoT devices – the network edge is the real perimeter. We were the first to unify EPP and EDR – prevention, detection, response, and hunting – in a single autonomous agent. We were the first to stand behind our product with a cyber warranty. Now we are the first to take AI-based device protection to the edge, covering IoT endpoints and workloads in the cloud. We have delivered unrivaled product innovation through a sustainable growth model that’s unique to others in the space, positioning us as a leader into the future.”
Today, with over 2,500 customers, SentinelOne is the fastest growing endpoint security company on the market – operating with efficient, low burn mechanics – while demonstrating market leadership and growth:
- 217% YoY growth in ARR
- 140% YoY growth in Fortune 500 bookings
- 3 of the Fortune 10 sold and deployed over past 12 months
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“Endpoint security is at a fascinating point of maturity, highlighting a massive market opportunity for SentinelOne’s technology and team,” said Teddie Wardi, Managing Director, Insight Partners. “Attack methods grow more advanced by the day and customers demand innovative, autonomous technology to stay one step ahead. We recognize SentinelOne’s strong leadership team and vision to be unique in the market, as evidenced through the company’s explosive growth and highly differentiated business model from its peer cybersecurity companies.”
“As an investor, SentinelOne’s combination of best-in-class EPP and EDR functionality is a magnet for engagement, but it’s the company’s ability to foresee the future of the endpoint market that attracted us as a technology partner,” said a representative from Samsung Venture Investment Corporation. “Extending tech stacks beyond EPP and EDR to include IoT is the clear next step, and we look forward to collaborating with SentinelOne on its groundbreaking work in this area.”
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