Cybersecurity technology producer SentinelOne agreed on Tuesday to acquire US-based data analytics software provider Scalyr in a $155m deal enabling investment vehicles for media group Bloomberg and internet technology group Alphabet to exit.
Scalyr has built an advanced analytics platform that logs data on network events for analysis, security, regulatory compliance and data forensics.
SentinelOne, which utilises a cross-layered detection and response model known as XDR, will use the company’s software to consume, correlate, search and use data from any source within its platform.
The deal will combine cash and equity, and it follows approximately $33.5m in funding, $5.5m of which came from undisclosed investors in 2018 according to a securities filing.
Scalyr closed a $20m series A round in 2017 led by venture capital firm Shasta Ventures and backed by Bloomberg Beta, Susa Ventures and Heroic Ventures that took its overall funding to about $28m.
Bloomberg Beta had joined GV, the subsidiary of Alphabet then known as Google Ventures, in a $2.1m seed round alongside Susa Ventures and Sherpalo Ventures two years earlier.
Christine Heckart, chief executive of Scalyr, said: “The security and data analytics industries are uniquely related, and this acquisition provides SentinelOne the opportunity to set the agenda as the XDR category leader.
“Scalyr’s current customers will benefit from expanded investment, and SentinelOne’s customers will enjoy Scalyr’s big data capabilities within the Singularity platform.”
