The acquisition of PingSafe's cloud native application protection platform (CNAPP) is expected to enhance SentinelOne's cloud security offering. Barclays bank estimates the deal to be worth about $100 million. The acquisition is considered one of the fastest from seed to significant exits in the Indian ecosystem.
Key takeaways:
- SentinelOne has acquired PingSafe, a startup backed by Peak XV, in a deal valued at over $100 million, according to sources.
- The financial terms of the deal were not disclosed by the AI security firm, and the involved parties have not commented on the matter.
- PingSafe, founded in 2021, is a small security company with less than 100 employees and around 50 customers, mostly in India. The company had raised about $3.3 million in funding.
- Barclays bank suggests that the acquisition of PingSafe's cloud native application protection platform could enhance SentinelOne's cloud security offerings and potentially influence pricing in the cloud security market.