SentinelOne, an AI-powered endpoint security company It was released to the public last Juneannounced the launch of S Ventures, a $100 million fund to invest in generating cybersecurity startups.
The launch of S Ventures comes at an interesting time for the cybersecurity market. While startups in this sector have long held out against the tide economic storm Better than most layoffs now become familiar In online startups, new data shows that Recent numbers down across financing, mergers and acquisitions.
Tomer Weingarten, co-founder and CEO of SentinelOne, believes this volatile market presents an opportunity for his company, which is keen to diversify its focus away from mergers and acquisitions to project financing. SentinelOne recently completed its $617 million acquisition of Attivo Networks threat detection platform, which followed its acquisition of Scalyr, a provider of server log monitoring tools, for $155 million.
“For us, mergers and acquisitions are a capital-intensive tool,” Weingarten told TechCrunch. “Venture, on the other hand, allows us to nurture an ecosystem around SentinelOne and in some cases achieve better outcomes for our customers. It is an effective tool for us to drive whatever kind of impact we want without using a lot of capital.”
S Ventures will invest in all phases of the startup lifecycle with a focus on security and data companies that bring new ideas to SentinelOne’s Singularity XDR Marketplace, a platform that integrates cross-vendor security applications and tools into a single platform without the need to code or know how to write.
“We try to focus on the ideas, technologies, and people who can deliver results in the enterprise, because we have a very unique perspective on enterprise infrastructure,” Weingarten said. But overall, we’re looking for companies that can make a positive impact, are mission-driven, and can disrupt positively.”
S Ventures has already invested in a number of startups, including email security platform API Armorblox and Ongoing cyber asset management and platform controls Nautic Cyber. These startups join a large list of S Ventures portfolio companies including turkLaminar, a code-free security automation platform that accelerates complex threat response workflows, and Laminar, a platform that provides full data monitoring across the public cloud to reduce the attack surface and real-time data leak detection.
“When we work with these companies, we advise and we have some of the best operators in the industry, so it’s about helping them scale,” Weingarten added. “It’s about helping them not make the same mistakes we might have made over the years.”
The fund will be managed by Rob Salvagno, SentinelOne’s head of corporate development, with support from David Kellenberger in the US, and Iren Reznikov, director of corporate development and venture investments in Israel.