Series C Round Brings Total Funding to More Than $110 Million
PALO ALTO, Calif. SentinelOne, the company transforming endpoint security by delivering real-time protection powered by machine learning and dynamic behaviour analysis, today announced it has raised an additional $70 million in Series C financing. The company plans to use this new infusion of capital to aggressively expand its sales and marketing efforts to drive more than 400 percent global sales growth in 2017, while continuing to maintain a strong investment in its research and development initiatives towards its next-generation endpoint protection platform.
New investor – and current SentinelOne customer – Redpoint Ventures led the round along with new investment from Ashton Kutcher and Guy Oseary’s firm, Sound Ventures. Existing investors Third Point Ventures, Data Collective, Granite Hill Capital Partners, Westly Group, and SineWave Ventures also participated in the round, bringing the total investment in SentinelOne to more than $110 million to date.
“Confidence remains dismally low when it comes to traditional antivirus’ ability to stop anything but the most mundane threats. Even vendors that are now touting machine learning-based file-scanning, and artificial intelligence capabilities are in fact pursuing a very narrow approach, and only an incremental improvement – if any – to a much broader problem,” said Tomer Weingarten, co-founder and CEO of SentinelOne. “The time is now to migrate away from these ineffective technologies that remain focused on only a subset of threats and replace with a next-generation endpoint protection platform that’s been tested and proven to stop even the most advanced cyber threats.”
“With this new investment, we will expand our efforts to bring these advanced technologies to enterprises, services providers and government organisations across the globe who are eager for change,” added Weingarten.
SentinelOne unifies endpoint threat prevention, detection and response in a single platform driven by sophisticated machine learning and intelligent automation. With SentinelOne, organisations can detect malicious behaviour across multiple vectors, rapidly eliminate threats with fully-automated, integrated response capabilities, and adapt their defences against the most advanced cyber attacks.
Tom Dyal, partner at Redpoint Ventures, will join the company’s Board of Directors.
“Redpoint is proud to lead this growth investment in SentinelOne, an emerging leader in next generation endpoint security,” said Tom Dyal. “This is a $10 billion global market opportunity that is ripe for disruption as enterprise customers migrate away from legacy antivirus solutions. SentinelOne has the most sophisticated approach to the market, leveraging a combination of machine learning and advanced behaviour-based detection.”
SentinelOne has achieved dramatic growth in the last 12 months as more organisations seek to replace aging antivirus solutions with SentinelOne’s Endpoint Protection Platform which can prevent, detect and remediate malware, exploit and insider-based attacks without the need of signatures or cloud access. SentinelOne’s next-generation endpoint protection platform is supported on Windows , MacOS and Linux.
Time Inc., is the latest in a string of large enterprises who have turned to SentinelOne to provide more advanced protection for tens of thousands of endpoints that had previously been protected by traditional antivirus software. SentinelOne also recently inked a strategic North American distribution deal with Avnet Inc., one of the world’s largest IT technology distributors.
The company plans to continue international expansion with increased investment in global sales infrastructure and deepening its executive bench. Gareth Green, former general manager for Aerohive Networks, will join SentinelOne as vice president of international sales in February. During his nine-year tenure at Aerohive, Green was responsible for sales , channels and strategic partner alliances across Europe, nearly 40 percent of the company’s worldwide business.
SentinelOne is shaping the future of endpoint security with an integrated platform that unifies the detection, prevention and remediation of threats initiated by nation states, terrorists, and organized crime. SentinelOne’s unique approach is based on deep inspection of all system processes combined with innovative machine learning to quickly isolate malicious behaviors, protecting devices against advanced, targeted threats in real time. SentinelOne was formed by an elite team of cyber security and defense experts from IBM, Intel, Check Point Software Technologies, McAfee, Palo Alto Networks and the Israel Defense Forces. To learn more visit sentinelone.com or follow us at @SentinelSec.