As an autonomous cybersecurity platform company, SentinelOne has filed a registration statement on Form S-1 with the Securities and Exchange Commission for a planned initial public offering of its Class A common shares. The prospective offering’s number of shares to be issued and price range have yet to be defined. SentinelOne would be valued at approximately $10 billion.
Founded in 2013, SentinelOne until now has raised a total of $696.5 million in eight funding rounds. Through this IPO, the cybersecurity company aims to raise up to $100 million.
The company has a clear idea of what the money is needed for. SentinelOne is planning to expand their research and development function to drive further platform development, while also expanding its sales and marketing activities. Next to that, the cybersecurity company plans to further develop the functionality to expand into adjacent markets, and reach clients in new geographic locations.
SentinelOne delivers autonomous endpoint protection through a single agent that combines prevention, detection, and response functionality to provide autonomous endpoint security. SentinelOne’s cybersecurity platform would save users time by employing artificial intelligence (AI) to detect and eradicate threats in real time within organizations and in the cloud. In addition, the company delivers a network-wide solution that delivers full visibility from edge to cloud.
In their single autonomous XDR platform, SentinelOne’s cybersecurity solutions provide AI-powered prevention, detection, response, and hunting across endpoints, containers, cloud workloads, and IoT devices.