MOUNTAIN VIEW, CA, SentinelOne has raised $120 million in Series D funding led by Insight Partners.
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SentinelOne, the autonomous endpoint protection company, today 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.
"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
"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."
Additional Supporting Quotes
Chris Barney, SVP & GM, Presidio
"SentinelOne's innovative approach has created simplicity and scalability in our most demanding deployments. Regardless of environment or success metric, the SentinelOne platform is a consistent top performer. Presidio's commitment to reducing customer risk means SentinelOne will continue to play a significant role in our security offerings."
Todd Weber, VP, Partner Strategy and Research, Optiv
"Optiv is committed to helping organizations build sustainable risk-centric foundations for implementing proactive and measurable cybersecurity programs. Leading technologies like SentinelOne's autonomous endpoint platform are an important part of our unique approach, which is aligned to new business models and centered on client-focused outcomes. We are proud to partner with the SentinelOne team to deliver transformative cybersecurity solutions that enable clients to innovate, integrate, achieve measurable outcomes, and realize complete solutions and business alignment."
Julien Antoine, VP EMEA, Exclusive Networks
"We challenge legacy distribution models while redefining value and supporting our resellers in innovate ways. Similarly, SentinelOne disrupts legacy, and even traditional next-gen models for protection; we believe that there is no technology or company that better fits with us in the global markets we serve. We congratulate SentinelOne on this milestone and look forward to continued hypergrowth."
SentinelOne delivers autonomous endpoint protection through a single agent that successfully prevents, detects, responds, and hunts attacks across all major vectors. Designed for extreme ease of use, the S1 platform saves customers time by applying AI to automatically eliminate threats in real time for both on premise and cloud environments and is the only solution to provide full visibility from edge to cloud across the network. To learn more visit sentinelone.com or follow us at @SentinelOne, on LinkedIn or Facebook.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. Our mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across our people and our portfolio, we encourage a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.