US-based AI-powered cybersecurity company, SentinelOne, is set to acquire Bengaluru-based cybersecurity startup PingSafe in a cash and stock deal.
PingSafe, founded in 2021 by Anand Prakash and Nishant Mittal, offers a cloud security platform that autonomously identifies vulnerabilities using cloud APIs and logs. The startup, backed by Peak XV Partners, has quadrupled its user base in the past year, serving clients like Flipkart, Razorpay, and PolicyBazaar.
The acquisition aims to integrate PingSafe’s cloud-native application protection platform (CNAPP) into SentinelOne’s Singularity platform, marking a paradigm shift in cloud security. The Singularity Platform provides immediate defense against cyberattacks, and the integration will enhance coverage, hygiene, and automation across the entire cloud footprint. The deal is expected to be completed in SentinelOne’s first quarter of fiscal year 2025.
About PingSafe: PingSafe, founded in 2021, is a Bengaluru-based cybersecurity startup offering a cloud security platform for enterprise cloud security needs. Using cloud APIs and logs, PingSafe autonomously identifies vulnerabilities without human intervention. The startup, backed by Peak XV Partners, has gained traction, serving major clients in the industry.
About SentinelOne: SentinelOne is a US-based AI-powered cybersecurity company that provides a Singularity Platform for preventing, detecting, and responding to cyberattacks. The platform offers unbounded visibility, leading detection, and autonomous response, streamlining management and simplifying triage and investigation. The company’s acquisition of PingSafe aims to revolutionize cloud security through integration and automation.
This acquisition comes amid a dynamic landscape in the cybersecurity space, showcasing the industry’s continuous evolution and strategic partnerships to enhance security measures. The deal is poised to contribute to a unified platform for managing the entire attack surface, offering improved analytics and real-time interaction for detecting and preventing multi-stage attacks.