SA国际传媒

Mountain View, California-based plans to pursue acquisitions after securing a $267 million Series F that tripled the company鈥檚 valuation from just nine months ago.

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The round, which values the company at more than $3 billion, was led by , and included participation from and existing investors including and .

In February, the company announced a $200 million raise at a valuation of $1.1 billion.

Despite still having that previous money in the bank, the company decided the timing was right to add to its balance sheet after seeing tremendous growth in the last seven months and expanding its offerings, said co-founder and CEO .

鈥淲e knew we could probably do something right now to take advantage of all these opportunities,鈥� he said.

The company expects to grow more than 100 percent this year from last, after its endpoint security platform became a necessity for many businesses as workforces relocated to their homes after the COVID-19 pandemic struck in March. The relocation of workforces caused networks to be expanded and the attack surface to exponentially increase.

SentinelOne also has added products to address both cloud and IoT security needs, Weingarten said. The cloud offering took on added importance as the pandemic moved many enterprises to accelerate their cloud adoption and now makes up 10 percent of SentinelOne鈥檚 revenue despite only being introduced last year, he added.

New money and the future

The new money will mainly go toward the company becoming acquisitive, with it looking to both add talent as well as expand its platform, adding cloud modules and other features to address customer needs, Weingarten said.

SentinelOne anticipates similar growth next year and already has reached triple digits in annual recurring revenue, he said.

Those numbers could interest the public market, but Weingarten said the company has no set time frame for an IPO. Rather it will evaluate the market and continue to put in place the necessary processes鈥攕uch as auditing, compliance and sales cadence鈥攖o become a public company when the timing is right, he said.

鈥淚鈥檓 not saying (an IPO) can鈥檛 happen in 18 months, but we do not have any target right now,鈥� Weingarten said.

The company has been approached in the past by potential acquirers, he said, but it is very interested in building on its own long-term vision.

SentinelOne, founded in 2013, now has raised $696.5 million to date.

According to SA国际传媒 data, 2020 has been a big year for U.S. security venture funding with several large rounds. Total deal value this year to-date already has surpassed that of last year.

The endpoint market and big money exits

The endpoint market has been valued anywhere between $15 billion and $20 billion, Weingarten said.

Due to that size, the market has seen several shakeups in recent years. Long dominated by the likes of , and , several newer players emerged over the last decade and realized large money exits.

In November 2018, announced it would acquire endpoint security provider for $1.4 billion, right as that company had reportedly been considering an IPO. Then in August 2019, acquired for $2.1 billion.

In June 2019–between both of those M&A deals鈥� undertook one of the most successful cybersecurity IPOs in history, nearly doubling its market cap on its first day of trading. Crowdstrike鈥檚 market cap now stands at more than $30 billion, more than 4 times its value when it went public.

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