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The
Palo Alto-based company was founded by Israelis and has a
research and development center in Israel. It plans to use this
capital to expand sales and marketing efforts to achieve more
than 400 percent sales growth in 2017, while continuing to
invest in R&D.
U.S. venture capital firm Redpoint Ventures, a new investor and
SentinelOne customer, led the round along with new investment
from Sound Ventures - actor Ashton Kutcher's and talent manager
Guy Oseary's investment firm. Existing investors Third Point
Ventures, Data Collective, Granite Hill Capital Partners, Westly
Group, and SineWave Ventures also participated in the round.
SentinelOne uses machine learning and behavior analysis to
provide threat prevention, detection and response for endpoints.
Redpoint Ventures partner Tom Dyal said endpoint security is a
$10 billion market opportunity as businesses migrate away from
traditional anti-virus software. SentinelOne customers include
Time Inc and it recently signed a North American distribution
deal with Avnet Inc <AVT.N>.
(Reporting by Tova Cohen)
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