Anti-virus co SentinelOne raises $25m

startup app

The company plans to expand its departments, open new centers, and double its workforce.

Israeli startup SentinelOne has raised $25 million in its second financing round, making a total of $40 million raised since the company was founded. Managed by cofounder and CEO Tomer Weingarten, SentinelOne works in the cyber security market. Third Point Ventures led the current round, with participation from previous investors Tiger Global, Data Collective, Westly Group, Granite Capital Partners, and SineWave Ventures, the latter being quite a recent investor. SentinelOne's first investor was Upwest Labs, an Israeli accelerator active in Silicon Valley.

As part of the investment, Third Point Ventures managing partner Robert Schwartz has joined SentinelOne's board of directors, and former Cisco general counsel Dan Scheinman will be an independent director.

The product that SentinelOne is developing makes it possible to recognize formats of attacks and malware, and to stop them whether or not they are recognized. Both large and small companies using the product can use it to protect desktop computers, laptops, tablets, smartphones, various servers, etc. According to the company's statement, the latest financing round will be used to continue the development of its anti-virus in the multi-billion dollar cyber market. Following the round, SentinelOne will expand its sales, marketing, R&D, and customer service departments at the company's locations in California, New York, Paris, and Singapore. The company also plans to open new centers in Boston and London, and to double its workforce over the next six months. The company's development center is in Bnei Brak near Tel Aviv.

Weingarten said “Attacks have moved beyond malware and can now compromise endpoint devices using a variety of techniques and methods. We’ve built a platform from the ground up that can detect and protect against malicious activity on a machine regardless of the vector, or source of entry, being used. This new round of financing will allow us scale quickly and capture a lion’s share of the very large market for endpoint protection.”

Published by Globes [online], Israel business news - www.globes-online.com - on October 13, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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