For the fifth consecutive year, AI security leader SentinelOne has been named to the Deloitte Technology Fast 500, an annual ranking that recognizes the most innovative and fastest growing companies in North America.
“Innovation and growth are the foundation on which SentinelOne is built,” said Tomer Weingarten, CEO, SentinelOne. “For more than a decade, we have been breaking boundaries with relentless innovation, and we are resolute in our mission to change the face of cybersecurity as we march toward profitability.”
Now in its 29th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Winners are selected based on percentage fiscal year revenue growth from 2019 to 2022. SentinelOne was ranked 177 on the list with revenue growth of 808 percent.
SentinelOne remains the fastest-growing cybersecurity company at scale, driven by share gains not only in endpoint security, but also in cloud security, identity security, and data analytics. As of the second quarter in fiscal year 2024, total revenue increased 46 percent to $149 million, compared to $103 million in the second quarter of fiscal year 2023, and Annualized Recurring Revenue (ARR) increased 47 percent to $612 million.
“Despite uncertain market conditions, our business momentum remains strong, reflecting solid demand for our technology and our transformative approach to security,” Weingarten said.
The threat landscape is rapidly evolving and to keep pace, companies need to shift from protecting endpoint, identity and cloud to protecting business. SentinelOne’s Singularity Platform is the first AI security platform to protect the entire enterprise, no matter what the attack vector is. With Singularity, security teams can bring all of their data together in one place, and secure, enrich and act on it in ways that enhance their security posture.
And companies around the world are rapidly adopting it to do just this. As of the second quarter of fiscal year 2024, total customer count grew approximately 30 percent to over 11,000 customers, with customers with ARR over $100,000 growing 37 percent to nearly 1,000.
SentinelOne received five PeerSpot awards for the platform and was named the 2023 Best AI-Based CyberSecurity Solution Provider by the CyberSecurity Breakthrough Awards. The company was also recognised as a 2023 Gartner Peer Insights Customers’ Choice, with 96 percent of 1,462 professional users who provided reviews of the Singularity Platform saying they would recommend the solution.
Last week, the company announced the next-generation of Singularity, which will set a new standard for security through enhancements that will unleash the power of data and AI to drive faster, smarter security decisions.
“AI has supercharged the threat landscape and opened the door to a completely new set of attacks,” Weingarten said. “SentinelOne will continue to deliver innovative technologies that help companies see around corners and proactively respond to them to keep their business secure.”