Folks conversant in the matter say SentinelOne, which is engaged on synthetic intelligence for companies to guard towards safety threats, is now interviewing bankers for itemizing.
The IPO might happen later this 12 months, in accordance with Bloomberg, citing nameless sources, though the corporate’s plans will not be set in stone.
SentinelOne, which was based in 2013, is backed by buyers comparable to Perception Companions, Third Level Ventures, Tiger World Administration, Sequoia Capital and Sinewave Enterprise, in accordance with Bloomberg.
The corporate raised $ 700 million and was valued at $ 3 billion final November, the report says.
SentinelOne, if the deal goes by way of, can be one in all a number of tech firms testing the market, as IPOs have matured of late. Among the many different firms which have gone public is the relationship app Bumble, and extra IPOs are slated for the approaching months, together with web site maker Squarespace, an automation supplier UiPath, and producer of electrical automobiles Rivian.
As well as, a competitor of SentinelOne’s, CrowdStrike holdings, went public in 2019 and Bloomberg reviews that the corporate is now valued at $ 48 billion.
PYMNTS reported that SentinelOne acquired a $ 267 million Collection F funding spherical final November. The financing was led by Tiger World Administration and introduced the valuation of the corporate at the moment to $ 3 billion. The corporate stated it plans to make use of the cash to assist develop its Singularity XDR platform, which goals to supply companies with an built-in cybersecurity system utilizing cloud workload safety, safety IoT, endpoint safety, endpoint discovery and response.
The corporate additionally held a Collection E funding spherical in February 2020, and the success of the numerous rounds has left some officers questioning whether or not it’s time for the corporate to use for an IPO.