- Cybersecurity firm SentinelOne acquired Singapore cloud startup PingSafe for over $100 million.
- SentinelOne plans to integrate PingSafe’s cloud app protection.
- The deal augments SentinelOne’s enterprise cloud offering amid rapid expansion.
US cybersecurity firm SentinelOne, listed on the New York Stock Exchange, has finalized its acquisition of Singapore-based cloud security startup PingSafe in a deal reported to top $100 million.
The purchase comes just 6 months after PingSafe raised a $3.3 million seed round led by PeakXV Partners. Managing Director Rajan Anandan called it “among the fastest seed to significant exits” ever seen in India.
Aiming to integrate cloud security & data capabilities
SentinelOne plans to integrate PingSafe’s cloud-native application protection platform with its own cloud workload security and data capabilities.
The combination aims to eliminate needing multiple point solutions, allowing companies to manage their entire attack surface from a single platform, said SentinelOne Chief Product and Technology Officer Ric Smith.
Success stories
Founded in 2022 by CEO Anand Prakash and CTO Nishant Mittal, PingSafe counts major clients like Flipkart, Razorpay, and Near Intelligence. Prakash is a known white-hat hacker who has identified major vulnerabilities at companies including Uber, Meta, and Microsoft. SentinelOne itself launched in 2013 and raised $1.2 billion in its June 2021 IPO.
The strategic acquisition boosts SentinelOne’s cloud security offering for enterprises amidst the tech giant’s rapid growth. PingSafe’s innovative platform and security research expertise should support expanding SentinelOne’s capabilities and reach within the vital cloud security market.
