SentinelOne is preparing an IPO (initial public offering) filing that could value the endpoint security software company at $10 billion, Bloomberg reports.
The SentinelOne IPO could arrive as soon as this year, though the listing plans, timing and valuation could all change, the report says. The security company, founded in 2013, is backed by venture capitalists such as Insight Partners, Third Point Ventures, Tiger Global Management and Sequoia Capital.
SentinelOne raised $267 million at a $3 billion valuation in November 2020. At the time, the company said it expected to double its revenue in 2020 compared to 2019, though actual revenue and profit figures were not disclosed.
SentinelOne: MSP Partners
Anecdotal evidence suggests thousands of MSPs and MSSPs have been embracing SentinelOne to mitigate potential ransomware attacks, according to MSSP Alert’s lengthy history covering the company.
Key partners include N-able (formerly SolarWinds MSP), which leverages SentinelOne’s software for an Endpoint Detection and Response (EDR) solution that works with RMM (remote monitoring and management) software. Overall, SentinelOne claims to be a 100 percent channel-focused business.
Also of note: SentinelOne recently unveiled the Singularity XDR Marketplace, an open app ecosystem that lets security teams extend XDR platform across their IT stack.
Security Technology Company Valuations
In terms of that potential $10 billion valuation, here's how the figure stacks up against rival security company valuations as of February 28, 2021:
- BlackBerry ($BB): $5.7 billion
- Check Point Software Technologies ($CHKP): $15.4 billion
- CrowdStrike ($CRWD): $47.8 billion
- FireEye ($FEYE): $4.5 billion
- Fortinet ($FTNT): $27.5 billion
- McAfee ($MCFE): $8.8 billion
- Palo Alto Networks ($PANW): $34.8 billion
- Qualys ($QLYS): $3.8 billion
- Zscaler ($ZS): $27.5 billion
