SentinelOne, a cyber-security startup announced it raising $25 million in Series B round of funding led by Third Point Ventures along with the participation from Tiger Global, Data Collective, Granite Hill Capital Partners, Westly Group and Sinewave Ventures. This funding round raises the total funding of the company to almost $40 million.
Founded in 2013 by Tomer Weingarten and Almog Cohen, the startup SentinelOne works to transform endpoint security to protect organizations against advanced, nation-state and unknown threats. It uses its patent-pending Dynamic Execution technology to spot and protect devices from being targeted, zero day threats in real-time. It is certified by the independent AVTEST institute to perform AV functions while also providing an extra new layer of advance protection against cyber attacks. Quite recently, Forbes reported that Netflix is replacing its AV in favor of SentinelOne’s next generation technology.
Weingarten said, “Attacks have moved beyond malware and can now compromise endpoint devices using a variety of techniques and methods. We have built a platform from the ground up that can detect and protect against malicious activity on a machine regardless of the vetor or source of entry being used.”
With the fresh funds, the cybersecurity startup plans to expand its sales, marketing, research & development and increase customer support operations in Mountain View, Tel Aviv, New York, Paris and Singapore. It also plans to open new centers in Boston and London and strengthen its team to more than 100 people by the next six months. Further to the funding round, Robert Schwartz, managing partner of Third Point Ventures has joined the company’s board of directors.
According to Schwartz, ” SentinelOne’s innovative technology is poised to disrupt what has been a sleepy endpoint security market in dire need of innovation. There is a large addressable market for SentinelOne’s technology. It will serve as a both a replacement and upgrade for legacy antivirus products, which are mainly being used by corporations to satisfy compliance requirements such as the payment card industry data security standard. By switching to SentinelOne, enterprises can eliminate antivirus expenditures, meet compliance mandates and get next generation protection with a single highly effective product. We are happy to be working with the exceptional team at SentinelOne.”