Tech Firm SentinelOne Acquires PingSafe By CIOTechOutlook Team

Tech Firm SentinelOne Acquires PingSafe

CIOTechOutlook Team | Saturday, 06 January 2024, 01:43 IST

SentinelOne, an American AI-powered cyber security business, announced the acquisition of Bengaluru-based cybersecurity startup PingSafe for an undisclosed sum.

The Mountain View-headquartered company in a statement said it will acquire PingSafe for a combination of cash and stock and that the acquisition is expected to conclude in SentinelOne’s first quarter of fiscal year 2025, subject to any applicable regulatory approvals and customary closing conditions, as per economic times.

The startup emerged from stealth mode in July last year when it said it had raised $3.3 million in a seed funding round backed by venture capital firm PeakXV Partners' startup accelerator programme Surge. It was founded in 2021 by ethical hackers Anand Prakash, the CEO, and CTO Nishant Mittal.

Peak XV Partners managing director Rajan Anandan stated on the microblogging site X (previously Twitter) that the transaction was one of the quickest'seed to substantial exits' in the Indian ecosystem's history.

Prakash took to X on Thursday, saying, “This isn’t just an acquisition; it’s a fusion of innovation and shared visions, and a commitment to fortify the digital world we navigate every day.”

PingSafe offers a next-generation cloud security technology based on the intelligence of attackers. SentinelOne intends to incorporate the startup's cloud native application protection platform (CNAPP) into its Singularity platform, claiming that the integration will result in a 'paradigm shift' in cloud security.

“The acquisition of PingSafe’s cloud native application protection platform (CNAPP), when combined with SentinelOne’s cloud workload security and cloud data security capabilities, is expected to provide companies with a fully integrated platform that drives better coverage, hygiene and automation across their entire cloud footprint,” SentinelOne said.

“The combination of our cutting-edge CNAPP capabilities with SentinelOne’s market-leading AI security platform will supercharge cloud security by providing world-class protection for multi-cloud infrastructure, from development to deployment,” Prakash said.