Endpoint Security Firm SentinelOne Raises $120 Million
Endpoint security firm SentinelOne announced on Wednesday that it has raised $120 million through a Series D funding round led by Insight Partners.
The total amount raised by the Mountain View, Calif.-based cybersecurity company now tops $230 million, including a $70 million Series C round raised by the company in 2017.
According to the company, the additional funding will will be used to support growth of its autonomous AI security platform that protects endpoint, cloud, and IoT devices deployed throughout the enterprise.
“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.”
In 2016, SentinelOne launched a cyber security guarantee, where the company promises to pay customers $1,000 per endpoint, or $1 million per company, in the event they experience a ransomware attack after installing SentinelOne’s product.
In 2017, the company unveiled new features that use the kernel hooks already present in the SentinelOne Endpoint Protection Platform to see cleartext traffic at the point of encryption, and again at the point of decryption. Detecting the presence of malware through recognition of malicious encrypted traffic allows security teams to pivot to the response part of the SentinelOne platform and take remedial action.
The company says that it currently has 2,500 customers, including 3 of the Fortune 10 sold and deployed over past 12 months, and has experienced 217% year-over-year growth in annual recurring revenue.
Samsung Venture Investment Corporation, NextEquity and previous investors including Third Point Ventures, Redpoint Ventures, Granite Hill and Data Collective (DCVC) and others participated in the Series D round.