Cybersecurity Roundup: BullGuard, Olympics Cyberthreats, Sophos, SentinelOne
… $200 million in Series E funding led by global venture capital and private equity firm Insight Partners.
The round increases SentinelOne’s valuation to $1.1 billion. The funding will allow SentinelOne to continue accommodating customer demand and accelerate growth. Leveraging patented behavioral and static AI models, SentinelOne unifies endpoint protection (EPP), endpoint detection and response (EDR) with ActiveEDR, IoT control with SentinelOne Ranger, and container and cloud-native workload protection into the Singularity Platform for autonomous protection.
Tim Mackie, SentinelOne’s vice president of worldwide channels, tells us since channel is a “core component” of his company’s business, part of this Series E will benefit the partner base through additional promotions and program enhancements in the way of margins, and financial benefits tied to performance and co-investment.
“The program and promos are investment and performance based, the more a partner invests, and the more successful they are in promoting and selling SentinelOne products, the more margin they will make,” he said. “This funding will allow us to further expand and enhance our Singularity platform to ensure that SentinelOne remains and becomes even more competitive. We will also use the funding to ‘partnertize’ our managed detection and response (MDR) service, which will allow partners, who qualify, the ability to compete deeper with their offerings, giving us both more scale.”
“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,” said Teddie Wardi, managing director at Insight Partners. “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.”