Security News > 2021 > June > XDR Platform Provider SentinelOne Files for IPO

XDR Platform Provider SentinelOne Files for IPO
2021-06-04 12:53

Founded in 2013, SentinelOne has created a platform that has evolved from a general endpoint protection solution to what the company describes as a "Full XDR cybersecurity platform" that includes AI-based endpoint protection, endpoint detection and response, IoT control, and protection for container and cloud workloads.

The company achieved "Unicorn" status in early 2020 when it raised $200 million in a Series E round.

In late 2020 its valuation jumped past $3 billion after raising $267 million in a Series F founding round, which brought the total raised by the company to a whopping $696.5 million.

According to its prospectus, the company has more than 4,700 customers, with revenue for fiscal 2020 and fiscal 2021 of $46.5 million and $93.1 million, respectively, representing growth of 100% year-over-year.

The company said revenue for the three months ended April 30, 2020 and 2021 was $18.0 million and $37.4 million, respectively, representing year-over-year growth of 108%. The company reported a net loss of $76.6 million and $117.6 million for fiscal 2020 and fiscal 2021, respectively, and $26.6 million and $62.6 million for the three months ended April 30, 2020 and 2021, respectively.

In February 2021, SentinelOne said it would spend $155 million to acquire log management startup Scalyr, beefing up a crucial technology piece to drive its ambitions in the enterprise cybersecurity market and speed up its push into the lucrative XDR category.


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