SentinelOne co-founder and CEO Tomer Weingarten.
Cybersecurity firm SentinelOne filed its IPO prospectus with the Securities and Exchange Commission on Thursday and plans to list on the New York Stock Exchange under the ticker symbol S.
In the three months ended April 30, revenue rose 108% year over year to $ 37.4 million, while net losses increased from $ 26.6 million to $ 62.6 million, according to the filing than doubled.
SentinelOne raised $ 276 million in a round led by Tiger Global last November, part of a nearly $ 500 million fundraising by investors in 2020 that lifted its valuation from $ 1 billion to $ 3 billion from the start of the year to the end of the year Tripled billions of dollars.
SentinelOne’s competitors have been among the big IPO winners in recent years, with CrowdStrike – named CEO Tomer Weingarten as its “main competitor” – now valued at over $ 46 billion. But more competitors are now also talking about the threat posed by SentinelOne. In the past few months, CrowdStrike and Qualys named SentinelOne as competitors in their annual reports for the first time. And after the coronavirus pandemic hit, Nikesh Arora, CEO of Palo Alto Networks, began talking to analysts about SentinelOne – he recently referred to the company three times on a results conference call.
Recently, the company’s autonomous endpoint security stopped SUNBURST – the malware that tricked systems into uploading it as an update to SolarWinds’ Orion software, used by thousands of companies. AT&T, JetBlue, and McKesson were among the SentinelOne customers protected by the SolarWinds hack.
The prospectus states that SentinelOne intends to list Class A common shares, although the number of shares and the price range for the proposed offering has yet to be determined. It also identifies Morgan Stanley, Goldman Sachs, Bank of America Securities, Barclays, and Wells Fargo Securities as leading underwriters.
The company was ranked 4th on this year’s CNBC Disruptor 50 list.
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