US-based endpoint protection software provider SentinelOne confirmed today it has raised $200m in a series E round featuring Qualcomm Ventures, mobile semiconductor technology producer Qualcomm’s corporate venturing unit.
The round was led by growth equity firm Insight Partners and included Vista Equity Partners’ Vista Public Strategies vehicle, Third Point Ventures, Tiger Global Management and unnamed existing investors. It valued the company at $1.1bn post-money.
SentinelOne has built a cybersecurity software platform that utilises artificial intelligence to track all endpoint processes, detecting and combatting threatening activity and malware.
A source told Calcalist that SentinelOne plans to put the funding towards fuelling growth, predominantly through mergers and acquisitions, adding that the round will likely be the last before the company launches an initial public offering. It increased SentinelOne’s overall funding to about $430m.
Insight Partners had previously led the company’s last round, a $120m series D in June 2019 that included Samsung Venture Investment, a subsidiary of electronics provider Samsung, as well as Tiger Global, Third Point, NextEquity, Redpoint Ventures, Data Collective, Granite Hill Capital Partners and Sound Ventures.
SentinelOne had previously received $70m in a 2017 series C round featuring Sound Ventures and existing backers Third Point, Data Collective, Granite Hill, Westly Group and SineWave Ventures. Its early investors include Accel and UpWest Labs.
Tomer Weingarten, SentinelOne’s co-founder and chief executive, said: “Leveraging AI to process enormous amounts of data in real time allows our customers to stay secure from all vectors of attack.
“Delivering value to customers well beyond the traditional endpoint is what positions SentinelOne as the fastest growing and most promising cybersecurity platform.”
This article was amended on February 19 to reflect an official announcement by SentinelOne.
