Home Business Cybersecurity firm SentinelOne recordsdata to go public with 108% income progress year-over-year

Cybersecurity firm SentinelOne recordsdata to go public with 108% income progress year-over-year

SentinelOne co-founder and CEO Tomer Weingarten.


Cybersecurity firm SentinelOne filed its IPO prospectus with the Securities and Trade Fee on Thursday, and plans to checklist on the New York Inventory Trade below the ticker image S.

Within the three months ending April 30, income grew 108% yr over yr to $37.4 million, whereas internet losses greater than doubled from $26.6 million to $62.6 million, in keeping with the submitting.

SentinelOne raised $276 million in a spherical final November led by Tiger World, a part of a near-$500 million haul from buyers in 2020 that tripled its valuation from the start of the yr to the tip, from $1 billion as much as $3 billion.

SentinelOne opponents have been among the many large IPO winners lately, with CrowdStrike — which CEO Tomer Weingarten has known as its “most important competitor” — now valued at over $46 billion. However extra of its opponents are additionally now speaking concerning the menace posed by SentinelOne. Up to now few months, CrowdStrike and Qualys for the primary time known as out SentinelOne as a competitor of their annual studies. And after the coronavirus pandemic arrived, Palo Alto Networks CEO Nikesh Arora started speaking about SentinelOne in conversations with analysts — he referenced the corporate thrice on a current earnings name.

Most not too long ago, the corporate’s autonomous endpoint safety stopped SUNBURST — the malware that tricked techniques into importing it as an replace to the SolarWinds’ Orion software program, which is utilized by 1000’s of organizations. AT&T, JetBlue and McKesson have been among the many SentinelOne prospects protected within the SolarWinds hack.

The prospectus says SentinelOne intends to checklist Class A standard inventory, although the variety of shares and worth vary for the proposed providing have but to be decided. It additionally identifies Morgan Stanley, Goldman SachsBank of America Securities, Barclays and Wells Fargo Securities because the lead underwriters.

The corporate ranked No. 4 on this yr’s CNBC Disruptor 50 checklist.

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