SentinelOne: $267 Million Funding And $3.1 Billion Valuation

By Amit Chowdhry ● November 13, 2020
  • Autonomous cybersecurity platform company SentinelOne announced it raised $267 million in Series F funding at a valuation of $3.1 billion

Autonomous cybersecurity platform company SentinelOne announced it raised $267 million in Series F funding at a valuation of $3.1 billion. This round of funding was led by Tiger Global Management with participation from Sequoia Capital Global Equities and existing investors including Insight Partners and Third Point Ventures. The significantly oversubscribed round will enable SentinelOne to continue accelerating hypergrowth driven by demand for its Singularity XDR Platform.

SentinelOne is considered the first to expand from cloud-native endpoint protection to a full XDR cybersecurity platform — which protects and monitors every asset in the enterprise. By utilizing patented behavioral AI models, SentinelOne seamlessly unifies endpoint protection (EPP), endpoint detection and response (EDR), IoT control, and container and cloud-native workload protection (CWPP).

SentinelOne has seen 130% YoY revenue growth in Fortune 500 accounts and the company serves 4 of the Fortune 10. And additional growth points highlighting SentinelOne’s business traction and platform adoption include 1.) 125% enterprise net retention rate 2.) 77% of customers subscribe to multiple SentinelOne platform modules 3.) 74% overall LTM deal win-rate and 4.) 72% CrowdStrike LTM deal win-rate

KEY QUOTES:

“We have set the standard for AI-powered cybersecurity for the new normal. Cloud, container, and IoT technologies are empowering today’s distributed workforce. A cohesive view of the entire enterprise network and a real-time autonomous security layer across all connected assets is required to protect people, businesses and their data, wherever they are. Our platform solution delivered via the cloud is purpose-built to secure and operationalize today’s enterprise data everywhere it resides.”

— Tomer Weingarten, CEO and Co-founder, SentinelOne

“The past eight months have been an inflection point in our business across the globe. 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.”

— Nicholas Warner, COO, SentinelOne

“After leading SentinelOne’s Series A financing over six years ago, Tiger Global is excited to further deepen our partnership with Tomer and SentinelOne’s world-class team by leading this round as the company prepares for its next chapter. It is a unique point in time in the company’s journey and the future looks bright.”

— John Curtius, Partner, Tiger Global

“Innovative solutions in cloud-delivered cybersecurity have proven invaluable to the modern enterprise. SentinelOne has demonstrated all the characteristics of an industry-defining technology pioneer, and we are thrilled to partner with this talented team for the long term.”

— Patrick Fu, Managing Partner at Sequoia Capital Global Equities

“Today’s cybercriminal takes full advantage of the expanded attack surface afforded through the shift to predominantly remote work environments. SentinelOne had the foresight to design and deliver a cloud-native autonomous platform solution far ahead of its time. It’s this vision and ability to execute that provides us confidence that SentinelOne will continue its growth trajectory and realize its potential as one of cybersecurity’s next great companies.”

— Teddie Wardi, Managing Director, Insight Partners

“As a long-time investor, we’ve witnessed SentinelOne’s core technology and growth strategy elevate the company from startup to one of cybersecurity’s most sophisticated and promising privately held companies. We’re still at the beginning, and we can’t wait to see what the future holds.”

— Rob Schwartz, Managing Partner, Third Point Ventures