California-based cybersecurity firm SentinelOne has announced picking up $200 million in a fresh round of financing. The Series E round has been led by Insight Partners with support from Tiger Global Management, Qualcomm Ventures LLC, Vista Public Strategies of Vista Equity Partners, Third Point Ventures along with a few unnamed backers. The current round values the firm over $1 billion.
Prior to this round, Insight Partners had led the Series D round of the firm when it had raised $120 million as part of Series D financing last year in June. The latest infusion takes the total amount raised by the firm to $429.5 million.
Founded in 2013 by Almog Cohen, Ehud Shamir, and Tomer Weingarten, the firm operates at as endpoint security provider platform which works on behavioral-based detection, advanced mitigation, and forensics to stop threats in real-time. The firm plans to use the freshly raised capital support its growth, including hiring for development, marketing, and sales. Tomer Weingarten, the CEO of the firm talking about the company said, “The cybersecurity demands of today’s enterprises have evolved, and we’ve taken endpoint protection far beyond what it once was.
Teddie Wardi, managing director of Insight Partners through a statement said, “Competition in the endpoint market has cleared with a select few exhibiting the necessary vision and technology to flourish in an increasingly volatile threat landscape. As evidenced by our ongoing financial commitment to SentinelOne along with the resources of Insight Onsite, our business strategy, and ScaleUp division, we are confident that SentinelOne has an enormous opportunity to be a market leader in the cybersecurity space.”
With the giants like Microsoft, CrowdStrike, Kaspersky, McAfee, and Symantec offering services in the domain, the current infusion will allow SentinelOne stay in the competition.
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