Artificial intelligence-driven cybersecurity platform SentinelOne is set to acquire PingSafe in a cash and stock deal.
PingSafe had raised a seed round of $3.3 million in July 2023 co-led by Surge, Tanglin Venture Partners and Sequoia Capital. California-based SentinelOne is an autonomous cybersecurity solution company that has acquired three companies to date.
Co-founded in 2021 by Anand Prakash and Nishant Mittal, PingSafe AI carries out in-depth scans rather than just cloud configuration checks like other CSPM solutions in the market. The company’s product is an advanced version of CSPM giving in-depth analysis about the company’s assets, vulnerabilities, and leakage of their cloud credentials.
PingSafe AI unifies the functionality of CSPM by automatically detecting vulnerabilities and preventing threats from spreading laterally through the enterprise without any performance impact on your workloads.
According to the Bengaluru-based company, it has registered 4X growth in its user base during the last 12 months and served companies like Flipkart, Razorpay, PolicyBazaar, SBI General, Tata 1mg and others.
The acquisition of PingSafe’s CNAPP, combined with SentinelOne’s cloud workload security and cloud data security capabilities, is expected to offer companies a fully integrated platform for improved coverage, hygiene, and automation across their entire cloud footprint.