SentinelOne announced the acquisition of Indian security startup PingSafe last week, with sources familiar with the deal valuing it at over $100 million. This is one of the strongest and fastest deals to come out of India, showcasing the country’s growing presence in the tech industry.
The acquisition shows that India is becoming a major player in the tech world, with PingSafe’s “seed to significant exit” being one of the fastest seen in the country’s ecosystem.
The deal, which was disclosed by the New York Stock Exchange-listed AI security firm, did not reveal the financial terms. Neither SentinelOne, PingSafe, nor PeakXV, who backed the young startup, immediately responded to requests for comment. However, sources suggest that the deal has not been previously reported.
PingSafe, founded in 2021, is a relatively new and small security company with less than 100 employees and around 50 customers, primarily based in India. The startup stayed in stealth mode until last year and had raised a total of $3.3 million in funding from Peak XV’s Surge program, known for its early-stage investments.
- Integration of PingSafe’s CNAPP will enhance SentinelOne’s cloud security offering
- SentinelOne has expressed its intent to be price competitive in the cloud security market
- Barclays estimates the deal to be worth around $100 million
“We think the integration of PingSafe’s CNAPP will strengthen SentinelOne’s cloud security capabilities, providing a wide range of agentless features. With SentinelOne’s focus on competitive pricing in the cloud security market, we wonder if this acquisition will play a role in their strategy,” stated Barclays in a report to clients.
Peak XV’s Surge lead, Rajan Anandan, also shared his excitement about the deal on Twitter, calling PingSafe’s journey “one of the fastest seed to significant exits” in the Indian startup ecosystem.
This is just the beginning, stay tuned for more updates on this exciting acquisition.
