SentinelOne, which provides an automated cybersecurity threat detection and response platform, raised $1.2 billion by offering 35 million shares at $35, above the upwardly revised range of $31 to $32. The company offered 3 million more shares than anticipated. It originally planned to offer 32 million shares at $26 to $29 before increasing the range on Monday. The company had also planned to raise an additional $50 million in a concurrent private placement to existing shareholders Tiger Global, Insight Venture Partners, Third Point Ventures, and Sequoia Capital.
SentinelOne's Singularity Platform is an AI-powered extended detection and response platform, or XDR, that ingests, correlates and queries petabytes of structured and unstructured data from a range of external and internal sources to provide autonomous cybersecurity defense. The Singularity Platform can be deployed across Window, macOS, Linux, and Kubernetes systems in public, private, and hybrid clouds. The company claims to have successfully protected all of its customers during the recent SolarWinds Sunburst cyber attack. As of April 30, 2021, Sentinel One had over 4,700 customers, up from 2,700 a year prior.
SentinelOne plans to list on the NYSE under the symbol S. Morgan Stanley, Goldman Sachs, BofA Securities, Barclays, Wells Fargo Securities, UBS Investment Bank, Jefferies, and Deutsche Bank acted as joint bookrunners on the deal.
