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The Capital Quest | Israel’s SentinelOne rolls out $100-mn fund to again startups, outlines new bets

Israeli-origin cybersecurity agency SentinelOne is launching a $100 million enterprise capital fund that can put money into safety and information startups.

S Ventures, as the brand new funding car is thought, will make investments throughout all levels of the startup lifecycle, SentinelOne mentioned in a press release.

It’s going to present entry to firm specialists and leaders, enhanced publicity throughout the SentinelOne ecosystem, and product integration and go-to-market enablement, the corporate mentioned.

The brand new fund has already backed a handful of Israeli startups. These embrace Torq, which accelerates complicated menace response workflows by way of a no-code safety automation platform; and Laminar, which delivers a cloud information safety platform that discovers, protects, secures, and screens delicate information within the cloud.

The fund has additionally invested in Armorblox, an API-based electronic mail safety platform; and Noetic Cyber, a steady cyber asset administration and controls platform.

SentinelOne was co-founded a decade in the past by Tomer Weingarten. The corporate listed on the New York Inventory Change in 2021 and at present has a market capitalization of $7.5 billion. This valuation is down almost two-thirds from the place the corporate was valued in November 2021 when it started buying and selling on the trade.

SentinelOne mentioned that, within the second quarter of 2021, it greater than doubled its income to $102 million whereas its annualised recurring income was up 122% to greater than $436 million.

The corporate continues to bleed operationally with an working lack of $108 million, however its margins have improved from 59% final 12 months to 65%.

In March, it had acquired US-based Ativo for $600 million in a part-cash, part-stock deal. The acquisition added 300 individuals to SentinelOne’s payrolls, doubling its workforce.

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