Israeli cybersecurity co SentinelOne raises $120m

Tomer Weingarten Photo: SentinelOne

Founded by two childhood friends from Petah Tikva, the company has developed an AI platform for end-point security.

Israeli cybersecurity company SentinelOne announced today that it has raised a $120 million Series D financing round led by US venture capital Insight Venture Partners. The company has raised $230 million to date including the latest financing round, after raising $70 million two years ago.

SentinelOne was founded in 2013 by two childhood friends from Petah Tikvah, CEO Tomer Weingarten and CTO Almog Cohen. SentinelOne has 350 employees in its Palo Alto headquarters and Tel Aviv development center in Sarona, including 150 in Israel. The new funding will enable the company to hire 400 new staff and the Tel Aviv development center will expand from 150 employees to 190.

The company says that it expects revenue to pass the $100 million mark during 2019 and that revenue rose 217% in 2018 from 2017. SentinelOne says that it has over 2,500 customers including three of the top ten Fortune 100 companies as well as government agencies. Investors include Sound Ventures, founded by the actor Ashton Kutcher and Israeli Guy Oseary.

Weingarten said, "The investment will reinforce us in two things - in sales and innovation. In the cybersecurity market you have to be able to renew in order to remain relevant."

SentinelOne has developed a platform based on artificial intelligence (AI) to secure end points including laptops, PCs, servers, cloud servers and IoT devices. According to Weingarten, the company's system can analyze bodies of big data in real time, identify anomalies and provide a response to attacks and even prevent them using machine learning.

Published by Globes, Israel business news - en.globes.co.il - on June 5, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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Tomer Weingarten Photo: SentinelOne
Tomer Weingarten Photo: SentinelOne
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