SentinelOne

SentinelOne offers a range of endpoint protection solutions for enterprises. The company provides the artificial intelligence (AI)-based platform “Singularity,” which is a unified offering for endpoint security, including a next-generation antivirus (NGAV), endpoint detection and response tools (EDR), extended detection and response (XDR), and other tools to monitor endpoint behavior from laptops, phones, and internet-of-things (IoT) devices to identify threats. Singularity ActiveEDR incorporates Storyline Active Response (STAR) to provide automated threat detection and response and also enables end-users to write custom MITRE-compatible detection rules. SentinelOne’s endpoint protection offering also extends to cloud endpoints and workloads, offering AI and behavior-based protection for virtual machines (VMs) and containers in the cloud. Singularity also provides features to centrally control cybersecurity policies and automate tasks for response and remediation. In addition to endpoint security, SentinelOne offers managed detection and response services, which support organizations with technology and human resources for threat hunting, response, and incident investigation.

In April 2023, SentinelOne launched a generative AI platform for threat detection, allowing security teams to run threat detection and automated remediation operations using natural language instead of code based commands.

In November 2023 the company launched a new, unified version of its Singularity platform, Singularity Unity, with upgraded cloud and endpoint security and data lake capabilities, as well as a GenAI cybersecurity assistant. Unity incorporated SentinelOne’s “PurpleAI” models to simplify investigations, governance, and compliance and improving metrics such as mean time to detect/resolve (MTTD/MTTR).

SentinelOne acquired cloud data-logging startup Scalyr in February 2021 for USD 155 million to bolster its own XDR capabilities. SentinelOne also entered into an agreement to acquire the identity threat detection and response (ITDR) startup Attivo Networks for USD 616.5 million in March 2022, and expects to integrate Attivo Networks’ capabilities into its Singularity XDR solution to provide autonomous protection. This includes ITDR, identity infrastructure assessment, and identity cyber deception capabilities to protect endpoint, cloud workloads, IoT devices, mobile, and data against identity compromise, lateral movement attacks, credential theft, data cloaking, and more. This acquisition will also add to SentinelOne’s gross margin and expand its total addressable market (TAM) by USD 4 billion in the critical identity security category.

Key customers and partnerships

SentinelOne partnered with cloud services and cybersecurity distributor Exclusive Networks in July 2021 to launch its platform for Australian and New Zealand MSP and MSSPs. During the same period, the company inked a partnership with ConnectWise to offer its standalone endpoint detection and response (EDR) solutions to its global partner base of technology solution providers (TSPs).

SentinelOne has partnered with managed detection and response (MDR) providers such as Red Canary , deepwatch, and BlueVoyant to integrate its solution with the latter’s MDR offerings. In addition, SentinelOne has also partnered with Zscaler , a cloud network security company , and Cloudflare, a web infrastructure and website security company , to push its own offerings through Zscaler and SentinelOne’s services. It also partnered with the observable data management company, Cribl in August 2022 to leverage the latter’s observability product suite to streamline cybersecurity triage, optimize data collection, and provide security teams control of their data. During the same month, the company partnered with the IoT security startup, Armis to jointly provide three unified solutions that protect organizations across endpoints, cloud, mobile, IoT, OT devices, and more. In December 2021, Sentinel partnered with Attivo Networks, to integrate its Singularity XDR with Attivo Networks’ Endpoint Detection Net (EDN) suite for a combined solution that prevents attackers from compromising endpoints, and to detect lateral movements to provide Active Directory protection, credential theft detection, and removal of exposed credentials. The company partnered with the cybersecurity and compliance company, Proofpoint to integrate SentinelOne Singularity XDR and Proofpoint Targeted Attack Protection (TAP) solutions and provide organizations with threat intelligence, detection, and response across emails, endpoints, cloud, and identity management. In March 2023 , SentinelOne partnered with cloud network security provider Wiz to provide end-to-end cloud security solutions by leveraging each company’s platform. With their combined capabilities, the joint solution was claimed to detect and remediate cybersecurity threats faster than stand-alone platforms.

Funding and financials

The company’s last private funding round was in November 2020, where it raised USD 267 million in a Series F funding round led by Tiger Global Management, and the company expects to use the funding to support the growth of its Singularity platform.

In June 2021, SentinelOne commenced trading in New York Stock Exchange (NYSE) under the ticker “S,” raising USD 1.2 billion in its initial public offering (IPO) at an implied valuation of USD 8.9 billion. The company expected to use the proceeds for working capital, product development, capital expenditure, and administrative matters. The company also aimed to use part of the funds to acquire and invest in complementary businesses and technologies.

SentinelOne launched “S Ventures”, a USD 100 million venture fund, to invest in enterprise cybersecurity startups, in September 2022. S Ventures invested in Armorblox, an API email security platform, and Noetic Cyber, a continuous cyber asset management and controls platform. These companies joined its portfolio companies which include Torq, a no-code security automation platform, and Laminar , a cloud-native data security startup.

In FY2023 , the company reported a revenue of USD 422.2 million, representing a YoY growth of 106% and an adjusted gross margin of 72%. The company saw its annual recurring revenue (ARR) growing at 88% to close at USD 548.7 million and the number of customers grew around 50% YoY to exceed 10,000 in Q4 FY2023. Management guidance for revenue for FY2024 stands in the range of USD 631 million and USD 640 million.