This cybersecurity firm wants you to ditch your AV for their comprehensive solution
Silicon Valley-based SentinelOne announced today that they have succeeded in pulling in $25 million in their Series B round. The boon from this latest funding venture comes in at 10X the value of their Series A, and brings their total investment to an impressive $40 million.
Leading the charge in this round was new investor Third Point Ventures, joining previous funding participants Data Collective, Tiger Global, Granite Hill Capital Partners, and the Westly Group. SineWave Ventures also waded in as a newcomer, adding further cash for the cyber startup’s coffers.
The company was co-founded in 2013 by CEO Tomer Weingarten and CTO Almog Cohen, both of whom come with impressive resumes in the cybersecurity industry. They are a member of UpWest Labs, an accelerator in the valley that provides its startups an ecosystem with resources, as well as increased access to customers, capital and talented peers in the U.S.
Taking on the anti-virus industry with endpoint security solutions
SentinalOne has developed their endpoint protection platform (EPP) for enterprise with the goal of eliminating the need for anti-virus software. In looking to keep networks safe from a wide range of attacks, their solution works on endpoint devices like mobile phones and PCs. Running in the background on the devices, the platform monitors and detects malicious behaviors and patterns in code execution in real-time. The company claims that their service can work even if the device is completely offline or off the network.
“Attacks have moved beyond malware and can now compromise endpoint devices using a variety of techniques and methods,” Weingarten told Geektime. “We’ve built a platform from the ground up that can detect and protect against malicious activity on a machine regardless of the vector, or source of entry, being used.”
In looking to stand out from the pack, SentinalOne’s method is based on tracking new processes on the devices from the beginning of their life cycles to pick up on and understand if it poses a threat to the network. According to Weingarten, “This breakthrough defends against zero-day malware, advanced exploits and government-grade espionage malware that uses polymorphic evasion techniques which can bypass traditional security methods.”
Running light on the system, the company claims that their software adds less than a microsecond per monitored process with an average CPU usage of 0.4% while it works to autonomously detect malware and fight off attacks.
Administrators can access their network’s devices through a cloud-based management console with SIEM integration for alerting, allowing them to manage the system in real-time.
SentinalOne’s EPP is currently available for use on Windows, Mac OS X, Linux, and Android. Their solution for iOS is still in Beta for the time being.
In offering a wide ranging solution, the company is taking aim at the major AV providers like McAfee and Symantec as well as more direct competitors like Cylance. SentinalOne claims that their EPP meets the compliance requirements for anti-virus standards, giving them a leg up in the field.
Looking towards expansion
Following the close of this latest round, the company plans to grow their team of 60 to over 100 in the next six months.
“This new round of financing will allow us to scale quickly and capture a lion’s share of the very large market for endpoint protection,” Weingarten stated during the announcement, going on to say that, “SentinelOne will use the funds to expand it sales, marketing, research and development and customer support operations in Mountain View, Tel Aviv, New York, Paris and Singapore. The company will also establish new centers in Boston and London.”
Focusing on the weakest link
While not alone in the field of endpoint solutions, SentinalOne addresses an important issue that is often less highlighted in the discussion of organizational security. Protecting a company’s cloud network or other data storage centers is a high priority for IT professionals and is of course big business (see Cybereason’s $59M Series C as a prime example).
However, a network’s security is only as strong as its weakest link, which is often its employees’ devices. Hackers can infiltrate a network through less protected backdoors like malicious apps or software downloads. While a company’s IT team will likely be on the alert for attempts to break into the system, another employee may be less cautious and download a virus that can affect the entire network.
By having all of a company’s devices equipped with a solid defense against even hard to detect malware, they become significantly better protected as a whole. Implementing this type of solution can save IT from a real nightmare scenario.