SentinelOne's $100 Million Acquisition: Bengaluru's PingSafe Leads Indian Cybersecurity Scene

Bengaluru's PingSafe Leads Indian Cybersecurity Scene

1. SentinelOne, a NYSE-listed company, is acquiring Bengaluru-based PingSafe, a cloud security platform, in a landmark $100 million deal.

2. This acquisition stands as the largest in the Indian cybersecurity startup sector and involves a combination of stock and cash transactions.

3. PingSafe, established in 2020 by Anand Prakash and Nishant Mittal, provides a centralized dashboard for real-time proof of exploitability by simulating hacking attempts, facilitating immediate vulnerability detection.

4. The exclusive CNAPP platform by PingSafe, driven by attacker intelligence, was unveiled in July 2023 after emerging from stealth operations.

5. PingSafe secured a noteworthy $3.3 million seed funding round led by Peak XV Partners, recognizing its innovative approach to cloud security.

6. CNAPP, PingSafe's software platform, streamlines monitoring, detection, and response to potential threats and vulnerabilities in cloud security.

7. Anand Prakash, a renowned white hat hacker and Forbes 30 under 30 awardee, founded PingSafe. Co-founder and CTO Nishant Mittal, an IIT, Dhanbad graduate, brings five years of experience from the digital payments ecosystem with PhonePe. The deal is anticipated to conclude in the first quarter of fiscal year 2025.