SentinelOne Raises $267 Million at Valuation Exceeding $3 Billion
Enterprise cybersecurity solutions provider SentinelOne on Wednesday announced raising $267 million in an oversubscribed Series F funding round that brings the total raised by the company to $696.5 million.
The company achieved “unicorn” status — its value exceeded $1 billion — earlier this year when it raised $200 million in a Series E round. After the latest funding, SentinelOne has been valued at more than $3 billion.
The latest round was led by Tiger Global Management, with participation from Sequoia Capital Global Equities, Insight Partners and Third Point Ventures. SentinelOne says it will use the money to continue accelerating growth driven by demand for its autonomous extended detection and response (XDR) platform.
SentinelOne’s platform has evolved from an endpoint protection solution to what the company describes as a “full XDR cybersecurity platform” that includes endpoint protection, endpoint detection and response (EDR), IoT control, and protection for container and cloud workloads.
The company claims its revenue has increased by 130% year-over-year in Fortune 500 accounts, with its list of customers including four of the Fortune 10 firms.
“The past eight months have been an inflection point in our business across the globe,” said Nicholas Warner, COO of SentinelOne. “The demand for flexible technology that can stand alone — without requiring services and staff — will only continue to increase as the threat landscape evolves. Our ease of deployment and autonomous remediation has made us the go-to solution to replace other next-gen products at scale.”