SentinelOne debuts on NYSE as most valuable cybersecurity IPO

SentinelOne, a cybersecurity firm, had its stock rise more than 20% in its first day on the New York Stock Exchange, trading under the ticker code “S.” The company’s stock closed at $42.50, giving it a market valuation of over $10 billion.

SentinelOne priced 35 million shares at $35 each, above its initial target range of $31 to $32. According to statistics from CB Insights, the firm raised $1.2 billion at an indicated valuation of $8.9 billion, exceeding CrowdStrike’s $6.7 billion market debut in 2019 and a prior era’s major winner, McAfee, to become the highest-valued cybersecurity IPO in history.

SentinelOne reported a 108 percent increase in revenue year over year to $37.4 million in its IPO prospectus, but net losses more than quadrupled from $26.6 million to $62.6 million.

This IPO is validation of the innovation and investment SentinelOne has made to pioneer the use of behavioral AI and harness the power of data to help customers autonomously prevent and remediate attacks, lessening the load for humans and providing capabilities not possible from other cybersecurity products on the market.

Tomer Weingarten, the CEO and Co-founder of SentinelOne, said “As we embark on this new journey, I want to make a commitment to our customers, employees and partners that our core values will not change. We will stay true to the core tenets that guide us in serving our customers and protecting the world’s most important data and infrastructure.”

People’s most sensitive data lives on computing devices and in the cloud, making cyberattacks one of the biggest threats to society. SentinelOne pledge’s to place integrity first and to foster a culture of equality, diversity, and inclusion. “We protect all data, we serve all people. We strive for truth, honesty, and transparency in all dealings with our customers, employees, shareholders, partners, and society at large”, said Weingarten.

The world is full of criminals, state actors, and other hostile agents who seek to exfiltrate and exploit data to disrupt our way of life. SentinelOne’s mission is to keep the world running by protecting and securing the core pillars of modern infrastructure: data and the systems that store, process, and share information. This is an endless mission as attackers evolve rapidly in their quest to disrupt operations, breach data, turn profit, and inflict damage.

Tomer Weingarten, CEO and co-founder of the autonomous cybersecurity firm said, “We believe that the world is and will be a safer place because of SentinelOne. Today is the rest of the story to win the cybersecurity battle and keep our customers safe”.