Cybersecurity firm SentinelOne information S-1 for IPO
SentinelOne co-founder and CEO Tomer Weingarten.
Cybersecurity firm SentinelOne filed its IPO prospectus with the Securities and Change Fee on Thursday, and plans to listing on the New York Inventory Change underneath 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 response to 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 “predominant 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 referred to as out SentinelOne as a competitor of their annual reviews. And after the coronavirus pandemic arrived, Palo Alto Networks CEO Nikesh Arora started speaking about SentinelOne in conversations with analysts — he referenced the corporate 3 times on a current earnings name.
Most lately, the corporate’s autonomous endpoint safety stopped SUNBURST — the malware that tricked programs 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 listing 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 Sachs, Financial institution of America Securities, Barclays and Wells Fargo Securities because the lead underwriters.
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