Israeli cybersecurity company SentinelOne is planning an initial public offering (IPO) at a possible valuation of over $10 billion, according to people familiar with the matter, "Bloomberg" reports.
The company has been interviewing bankers, the sources told "Bloomberg," and the offering could take place in 2021. The company’s plans are in the early stages and its listing plans including the valuation and timing could still change, "Bloomberg" added..
SentinelOne has developed an artificial intelligence-based platform for securing personal computers, servers and cloud servers and other devices connected to the Internet.
SentinelOne was founded in 2013 by CEO Tomer Weingarten and Almog Cohen, who no longer has an active role in the company. The company is now headquartered in Mountain View, California, and has its development center in Israel.
The company has raised almost $700 million to date, according to PitchBook, and investors include Tiger Global Management, Sequoia Capital, Insight Partners, Sinewave Ventures and Third Point Ventures. SentinelOne raised $467 million last year alone, including $267 million at a company valuation of $3 billion in November. The company tripled its valuation between its financing rounds in February 2020 and November 2020, and if the report from "Bloomberg" is accurate, it has more than tripled its valuation again.
Earlier this month, SentinelOne acquired US big data company Scalyr for $155 million.
SentinelOne has not responded to the report.
Published by Globes, Israel business news - en.globes.co.il - on February 27, 2021
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