PALO ALTO — SentinelOne, an Internet security company, has raised $70 million in Series C financing. The company plans to use the new capital to 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 actor 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 organizations 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, organizations can detect malicious behavior across multiple vectors, rapidly eliminate threats with fully-automated, integrated response capabilities, and adapt their defenses against the most advanced cyber attacks.
SentinelOne has achieved dramatic growth in the last 12 months as more organizations 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.