Insight leads $120m Series D for software security business SentinelOne

Insight Partners has led a $120m Series D financing round for endpoint security software business SentinelOne.

Samsung Venture Investment Corporation, NextEquity and previous investors including Third Point Ventures, Redpoint Ventures, Granite Hill and Data Collective (DCVC) also took part in the latest round, which brings the company’s total funding to more than $230m.

SentinelOne said the funding will be used to accelerate the company’s attempt to displace legacy and next-gen competitors in connecting endpoint, cloud, and IoT protection through its autonomous AI platform.

Insight Partners managing director Teddie Wardi said, “Endpoint security is at a fascinating point of maturity, highlighting a massive market opportunity for SentinelOne’s technology and team.

“Attack methods grow more advanced by the day and customers demand innovative, autonomous technology to stay one step ahead.

“We recognize SentinelOne’s strong leadership team and vision to be unique in the market, as evidenced through the company’s explosive growth and highly differentiated business model from its peer cybersecurity companies.”

Tomer Weingarten, CEO and co-founder of SentinelOne, said, “Endpoints are everywhere today, from classic laptops and desktops, to workloads in the cloud and the datacenter, and all IoT devices – the network edge is the real perimeter.

“We were the first to unify EPP and EDR – prevention, detection, response, and hunting – in a single autonomous agent. We were the first to stand behind our product with a cyber warranty.

“Now we are the first to take AI-based device protection to the edge, covering IoT endpoints and workloads in the cloud.”

Software-focused Insight raised $6.3bn for the final close of its tenth fund last July, bringing its total committed capital to more than $23bn.

The oversubscribed Fund X is being used to invest in the growth-stage software, software-enabled services, and internet business sectors.

Insight pulled in significantly more this time around than the $3.29bn it raised for its predecessor vehicle, and also trumped the latest fund’s widely reported $5.5bn target.

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