SentinelOne’s deal to amass PingSafe valued the Peak XV-backed younger startup at over $100 million, two sources conversant in the matter instructed TechCrunch, in one of many strongest and quickest offers rising from India.
The New York Inventory Alternate-listed AI safety agency disclosed the money and fairness deal final week, however didn’t reveal the monetary phrases. SentinelOne, PingSafe and PeakXV didn’t instantly reply to a request for remark. The phrases of the deal haven’t been beforehand reported.
Based in 2021, PingSafe is a comparatively new and small safety firm with <100 workers and ~50+ clients, principally in India. The agency remained largely in stealth mode till final yr, and was backed by Peak XV’s Surge within the early-stage fund’s sixth cohort. PingSafe had raised a complete of about $3.3 million in funding.
“We expect integration of PingSafe’s CNAPP [cloud native application protection platform] will bolster S’s cloud safety providing, offering a variety of agentless CNAPP capabilities – S has expressed its intent to be worth aggressive within the cloud safety market and we marvel if the acquisition will play a job in pricing,” Barclays wrote in a word to purchasers. The British financial institution estimated the dimensions of the deal to be about $100 million.
PingSafe is “among the many quickest ‘seed to vital exits’ Indian ecosystem has ever seen,” Rajan Anandan, who leads Surge at Peak XV, tweeted final week.
Extra to observe.
SentinelOne’s deal to amass PingSafe valued the Peak XV-backed younger startup at over $100 million, two sources conversant in the matter instructed TechCrunch, in one of many strongest and quickest offers rising from India.
The New York Inventory Alternate-listed AI safety agency disclosed the money and fairness deal final week, however didn’t reveal the monetary phrases. SentinelOne, PingSafe and PeakXV didn’t instantly reply to a request for remark. The phrases of the deal haven’t been beforehand reported.
Based in 2021, PingSafe is a comparatively new and small safety firm with <100 workers and ~50+ clients, principally in India. The agency remained largely in stealth mode till final yr, and was backed by Peak XV’s Surge within the early-stage fund’s sixth cohort. PingSafe had raised a complete of about $3.3 million in funding.
“We expect integration of PingSafe’s CNAPP [cloud native application protection platform] will bolster S’s cloud safety providing, offering a variety of agentless CNAPP capabilities – S has expressed its intent to be worth aggressive within the cloud safety market and we marvel if the acquisition will play a job in pricing,” Barclays wrote in a word to purchasers. The British financial institution estimated the dimensions of the deal to be about $100 million.
PingSafe is “among the many quickest ‘seed to vital exits’ Indian ecosystem has ever seen,” Rajan Anandan, who leads Surge at Peak XV, tweeted final week.
Extra to observe.
