SentinelOne’s deal to acquire Peak XV-backed startup PingSafe values it at more than $100 million, two sources familiar with the matter told TechCrunch, in one of the strongest and fastest deals emerging from India.
The New York Stock Exchange-listed artificial intelligence security company unveiled the cash and stock deal last week, but did not disclose the financial terms. SentinelOne, PingSafe and PeakXV did not immediately respond to a request for comment. Terms of the deal were not previously announced.
Founded in 2021, PingSafe is a relatively new and small security company with less than 100 employees and more than 50 clients, mostly in India. The company remained largely in stealth mode until last year, and was backed by Peak XV’s Surge in the sixth round of its early-stage fund. PingSafe has raised a total of about $3.3 million in funding.
“We are considering CNAPP integration for PingSafe [cloud native application protection platform] “It will strengthen S’s cloud security offering, providing a broad range of agentless CNAPP capabilities – S has expressed its intention to be price competitive in the cloud security market and we wonder whether the acquisition will play a role in pricing,” Barclays wrote in a note. To clients. The British Bank estimated the size of the deal at about $100 million.
PingSafe is “among the fastest Indian ecosystems to ever see significant exits,” said Rajan Anandan, who leads Surge at Peak XV. chirp last week.
More to follow.