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SentinelOne ’s deal to acquire PingSafe values the Peak XV - back up immature startup at over $ 100 million , two sources familiar with the matter told TechCrunch , in one of the strong and fast exits emerge from India .
The New York Stock Exchange - list AI protection firm disclosed the immediate payment and lineage sight to acquire the two - year - old Indian inauguration last week , but did n’t reveal the financial terms . PingSafe and PeakXV did n’t directly respond to a postulation for comment , whereas SentinelOne declined to notice . The terms of the pot have n’t been previously account .
Founded in 2021 , PingSafe is a relatively new and pocket-size security companionship with fewer than 100 employees and over 50 customers , mostly in India . The business firm continue largely in stealth mode until last class , and was back by Peak XV ’s Surge in the early - stage fund ’s sixth cohort . PingSafe had raised a total of about $ 3.3 million in financing .
“ We guess desegregation of PingSafe ’s CNAPP [ cloud native practical program aegis platform ] will bolster up S ’s cloud security oblation , cater a wide range of agentless CNAPP capabilities – S has utter its spirit to be price competitive in the cloud security measures market and we wonder if the learning will toy a part in pricing , ” Barclays write in a note to clients .
PingSafe is “ among the fastest ‘ seed to meaning exits ’ Indian ecosystem has ever seen , ” Rajan Anandan , who leads Surge at Peak XV , tweetedlast calendar week .
“ SentinelOne is a pioneer and leader in AI - power security , and we divvy up a common missionary post to secure the cloud and make the Internet a safer place , ” said Anand Prakash , father and chief executive director of PingSafe and one of the globe ’s top five white-hot - hat hackers , in a prepared program line last week . “ The combining of our cutting - border CNAPP capacity with SentinelOne ’s market - chair AI surety platform will supercharge cloud security measure by providing human race - class protection for multi - cloud infrastructure , from development to deployment . ”
The purchase of PingSafe represent a further endorsement of the increasing vogue of Amerindic software system companies targeting orbicular expansion . By first developing SaaS solution in the home grocery , a new generation of Indian entrepreneurs have subsequently jell their sights on planetary outgrowth .
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New Delhi is edge closer to found the second stage of its marquee Startup India program with a direction on bass technical school startups , Indian everyday Economic TimesreportedMonday . The planned double - down on advanced technology companionship mark the latest ploy get at transform the subcontinent into a spherical innovation power station to rival the the likes of of Silicon Valley .
