Cybersecurity startup SentinelOne reportedly seeks IPO at $10 billion valuation
Bloomberg says the firm is interviewing bankers for a share offering this year; the Tel Aviv based company was founded in 2013 by Tomer Weingarten, its CEO, and Almog Cohen
Shoshanna Solomon was The Times of Israel's Startups and Business reporter
Israeli cybersecurity startup SentinelOne is planning an initial public offering of shares this year at a possible valuation of $10 billion, Bloomberg reported over the weekend.
The report said the company has been interviewing bankers ahead of the public share offering, Bloomberg said, citing people familiar with the matter.
The Tel Aviv based firm, with its global headquarters in Mountain View, California, was founded in 2013 by Tomer Weingarten, its CEO, and Almog Cohen. The firm has raised some $697 million to date, from investors including US VC fund Sequoia Capital, New York-based hedge fund Tiger Global, Insight Partners, Samsung Venture Investment and Qualcomm Ventures, according to the database of Start-Up Nation Central, which tracks the industry.
Earlier this month, SentinelOne said it acquired US big data firm Scalyr, a cloud-based data analytics firm, for $155 million in equity and cash.
SentinelOne has developed artificial intelligence-based software to prevent, detect and respond to cybersecurity attacks, allowing organizations to detect malicious behavior at endpoints, data centers on the cloud. The former name of the company was Sentinel Labs.
In November, the firm said it raised $267 million in a series E funding, which gave the firm a valuation of more than $3 billion. In that statement the firm said that the company has benefited from 130% year on year revenue growth, serving Fortune 500 companies and four of the Fortune 10 firms.
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