SentinelOne’s deal to amass PingSafe valued the Peak XV-backed younger startup at over $100 million, two sources aware of the matter advised TechCrunch, in one of many strongest and quickest offers rising from India.
The New York Inventory Trade-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 think integration of PingSafe’s CNAPP [cloud native application protection platform] will bolster S’s cloud security offering, providing a wide range of agentless CNAPP capabilities – S has expressed its intent to be price competitive in the cloud security market and we wonder if the acquisition will play a role in pricing,” Barclays wrote in a observe to purchasers. The British financial institution estimated the dimensions of the deal to be about $100 million.
PingSafe is “among the fastest ‘seed to significant exits’ Indian ecosystem has ever seen,” Rajan Anandan, who leads Surge at Peak XV, tweeted final week.
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