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“Indian Cybersecurity Startup PingSafe Acquired for Over $100 Million by SentinelOne: An Inside Look at the Deal”
In an impressive show of strength for emerging Indian startups, SentinelOne has made a game-changing acquisition of PingSafe, a two-year-old cybersecurity company backed by Peak XV. The financial terms of the deal, which values PingSafe at over $100 million, have been disclosed, shedding light on one of the fastest and most lucrative exits seen in India.
PingSafe, founded in 2021, has quickly made a name for itself in the cybersecurity space, with a small but dedicated team and a growing list of clients mostly in India. Now, with the acquisition by SentinelOne, this young company is poised for even greater success on the global stage.
“We think integration of PingSafe’s CNAPP [cloud native application protection platform] will bolster S’s cloud security offering, providing a wide range of agentless CNAPP capabilities – S has expressed its intent to be price competitive in the cloud security market and we wonder if the acquisition will play a role in pricing,” Barclays said in a note to clients.
Rajan Anandan, who leads Surge at Peak XV, expressed his excitement for this remarkable achievement, stating, “PingSafe is among the fastest ‘seed to significant exits’ Indian ecosystem has ever seen.”
The acquisition of PingSafe by SentinelOne not only marks a major milestone for Indian startups but also underscores the growing trend of Indian software companies expanding globally. With a focus on deep tech startups in the upcoming phase of its prestigious Startup India program, India is poised to become a global innovation powerhouse.
As SentinelOne and PingSafe join forces, the cybersecurity industry is sure to witness an exciting new chapter of innovation and growth, driven by the expertise and cutting-edge technology that this acquisition represents.
