SentinelOne, an AI-powered cybersecurity startup based in the US, is prepared to purchase PingSafe, an Indian cybersecurity startup, for cash and stock. The AI security company registered on the New York Stock Exchange has not revealed the financial terms.
Next-generation platform for cloud security
PingSafe is a security firm that was founded in 2021 by Anand Prakash and Nishant Mittal. It was kept secret until July of last year. PingSafe is now two years old. In a seed fundraising round headed by venture capital company Peak XV Partners and its accelerator program Surge, it raised $3.3 million.
PingSafe, which is rumored to be worth over $100 million, offers a cutting-edge cloud security technology that leverages the intelligence of attackers. This technology offers unrestricted visibility, cutting-edge detection, and independent response to give instant protection against threats. Businesses use the platform to identify, stop, and handle cyberattacks.
The startup wants to serve as a one-stop shop for all business cloud security requirements. Without human assistance, the platform automatically finds vulnerabilities using cloud APIs and logs.
What Makes PingSafe?
It is anticipated that businesses will have access to a fully integrated platform for enhanced coverage, hygiene, and automation throughout their whole cloud footprint with the acquisition of PingSafe’s cloud-native application protection platform (CNAPP) and SentinelOne’s cloud workload security and cloud data security capabilities.
Anand Prakash, the founder and CEO of PingSafe and one of the top five white hat hackers in the world, stated in a prepared statement last week that SentinelOne is a pioneer and leader in AI-powered security, and that their shared purpose is to secure the cloud and make the Internet a safer place. “Cloud security will be boosted by the integration of SentinelOne’s industry-leading AI security platform with our state-of-the-art CNAPP capabilities, which offer top-notch protection for multi-cloud infrastructure from development to deployment.”
