Israeli Cybersecurity startup SentinelOne to raise over $1 billion in IPO at a valuation of $8.11 billion

The IPO season is here and Silicon Valley-based cybersecurity startup SentinelOne becomes the latest to join the IPO bandwagon. Backed by billionaire investor Daniel Loeb’s hedge fund Third Point, SentinelOne is looking to raise about $1.02 billion, according to a report from Reuters, citing a regulatory filing.

We first covered SentinelOne back in 2019 after the Mountain View, Calif.-based autonomous endpoint protection startup raised $120 million in Series D funding to accelerate its business growth and deliver product enhancements.

SentinelOne was founded in 2013 by Almog Cohen and Tomer Weingarten. The company delivers autonomous endpoint protection that successfully prevents, detects, and responds to attacks across all major vectors. Its technology protects laptops and mobile phones from security breaches by using artificial intelligence technology to identify unusual behavior in enterprise networks.

SentinelOne now plans to sell 32 million shares priced between $31 and $32 per share. At the top end of the price range, the company is aiming for a valuation of about $8.11 billion.

Since its inception eight years ago, SentinelOne has raised a total of $696.5 million in funding over 8 rounds. Its latest funding was raised on November 11, 2020, from a Series F round. SentinelOne is backed by many high-profile venture capital firms including Tiger Global, Sequoia Capital, and Insight Venture Partners.