I've been at SentinelOne for over four years now. Articles by Tomer Random thoughts. We did this in two ways in Q2, tackling group IoT devices and expanding zero trust partnerships and enterprise can't protect what it can see, including IoT and unmanaged devices. I dont see any reason why anyone who needs to protect his end points the devices connected to the internet, or even the cloud should turn to CheckPoint and Palo Alto, he said. Thank you. Before launching the company in 2013, he had helped to create several other tech startups. Our open XDR approach is helping unify the entire enterprise view from data to device to cloud. At the previous startups that Ive built, I was the CTO and mostly on the technical side. youtube. SentinelOne, Inc. (NYSE:NYSE:S) 24th Annual Needham Growth Conference January 11, 2022 1:15 PM ETCompany ParticipantsDoug Clark - Head, Investor RelationsTomer Weingarten - Chief Executive. Qualcomm Ventures Investment Team members are employees of Qualcomm Technologies, Inc. or one of its subsidiaries. That concludes the conference call. I think if you look at it, apples-to-apples you'll see that the prices are pretty much similar. This is XDR. Thank you very much. Got it. In 2023, once she's collected all the shares included in the package, she's . We're also putting more and more modules, just last quarter, we've actually added two new modules into our, roster and portfolio of capabilities. "The rest of the competitors have just chosen an architecture that is not well received by a lot of the cloud-native companies that are looking to secure their cloud environments," Weingarten says. We have two triggers. Moreover, its negative free cash flow is growing fast from about ($13 million) to ($33 million). Since then, its evolved into a complete platform with about 10 different modules that can address different issues within a corporate enterprise environment. Therefore, its no surprise that the company continues to burn through cash. Where do you think you are in that opportunity? We started thinking about the right approach to building security for the future. You have to be an incredibly good listener and understand pain points before you propose solutions. Security teams simply can't analyze and respond to billions of events every day. I think we take a different approach. I want to pause on that for a second. The endpoint security market is large and growing and we're just at the beginning. They want to cover more surfaces. Cohen and Weingarten were actually childhood friends and went to the same college. Thank you very much for taking my question. And it's driving more adoption and driving more seat counts in all-in-all it drives the stability for customers who shift away from their incumbent vendor with ease. information systems; Implement NIST's risk management framework, from defining risks to selecting, implementing Tomer Weingarten, SentinelOne CEO, joins 'TechCheck' to discuss how long the company's strong growth can continue, how quickly it can grow on the top line and how he would characterize the way. Sure. That's because of vision, execution and listening to the needs of our customers. Equally critical is machine speed detection, response and remediation. When we started, we had 35 competitors, said the companys founder and CEO, Tomer Weingarten, in an interview with the business daily Globes a year and a half ago. Before SentinelOne, Tomer led product development and strategy for the Toluna Group as a VP of Products. Obviously, we're very enthusiastic about our top line drivers. By submitting this form you agree to our Privacy & GDPR Statement, General Data Protection Regulation (GDPR). It's something that we'll deal with that forever. SentinelOne prides itself on having fended off cyberattacks most notably the recent SUNBURST one [the malware that tricked systems into uploading it as an update to the SolarWinds Orion software] for all of its customers, he told me. Its a huge undertaking. We started with two people and a nice idea. Now its worth about $10 billion, according to MarketWatch. In the shareholder letter, we've reiterated our long-term margin targets. And following the call, an audio replay will be available on the Investor Relations section of our website. in Broadcast Journalism from Arizona State University. 2023 Our focus on automation, speed and accuracy is critical to any enterprise, in fact, all enterprises. After two decades without a ratingsystem in Israel, at the end of 2012 an international tender for hotel ratingwas published. Even beyond security. If this call is replayed or reviewed after today, the information presented during the call may not contain current or accurate information. I'm delighted to help protect that many businesses. Finally, we have two quick housekeeping items. While building the AI system, Weingarten learned some important lessons. So all in all we feel the potential is quite significant. Mr. Weingarten also previously served in various roles at Mckit Systems Ltd., a provider of information and knowledge management systems in Israel, from March 2005 to April 2007. The second item is the lockup. Thank you. documents contain and identify important risk factors and other information that may cause our actual results to differ materially from those contained in our forward-looking statements. Lets put it that way. Its Singularity Platform incorporates AI into an extended detection and response (XDR) platform to enable autonomous cybersecurity defense, according to CNBC. So we like that mix, we feel it's a good mix for us. on the topic: Ron Ross, computer scientist for the National Institute of Standards and We even received a patent on this approach.. The State of Customer Identity & Access Management 2022, 2022 State of Cybersecurity in the Energy Sector, Cybersecurity Summit: North America - East, Key Themes of RSA 2023: Diversity of Ideas - New and Old, Ransomware Response Essential: Fixing Initial Access Vector, Nipping Ransomware in the Bud: Detecting Early Adversary Activity, OnDemand | Navigating the Difficulties of Patching OT, when it comes to performance and deployment, Next-Generation Technologies & Secure Development, Security Information & Event Management (SIEM), The Essential Guide to MITRE ATT&CK Round 4, Get the Most Out of Your (Growing) Security Tech Stack: Three Steps, eBook Special Edition I Extended Detection & Response for Dummies, Augmenting Your Microsoft 365 Email Security Infrastructure, Security Megatrends and Their Impact on Endpoint Security, New OnDemand | Building an Effective API Security and Compliance Program, JavaScript and Blockchain: Technologies You Can't Ignore, OnDemand | Realities of Choosing a Response Provider, FTC: Amazon, One Medical Must Keep Privacy Promises, Risk Management Framework: Learn from NIST, https://www.bankinfosecurity.com/sentinelones-tomer-weingarten-on-cloud-xdr-analytics-a-20160. Bloomberg says the firm is interviewing bankers for a share offering this year; the Tel Aviv based company was founded in 2013 by Tomer Weingarten, its CEO, and Almog Cohen That's over 2000 more than last year. In recent years, following the decline of players like McAfee and Symantec, this market has undergone an upheaval. So for a lot of these new accounts that we're winning that the net new logo motion that we have is already going into other adjacencies in the enterprise, whether it's IoT security or cloud security. In the first few years, it was an absolute battle to get the trust of customers, said Weingarten. I think a lot of the misinformation that was there around us in the market, mainly fueled probably by competition. That's what they do. We took our technology to securing IoT devices, the datacenter, and even containerized cloud workloads. Combined with ongoing benefits from our product innovation, improved brand awareness and continuing to scale our go-to-market, this collectively supports our triple-digit growth outlook. If it beats expectations and raises guidance, I expect the stock to go up. We don't force them to use our service. Clients can bring in any type of log source and cross-correlate disparate data points from siloed products made by different vendors into a single cohesive data lake to drive more automation and orchestration, he says. Tomer, maybe for you. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. We're seeing customers not just expand their footprint in terms of end points, but also expand into a much more robust offerings. The more conversations you have with your target market customers, the better you design your solution. Finally delighting our customers, I'm especially proud that our net promoter score, or NPS, has risen every single quarter in the past year. 96% would recommend it and one reviewer was mostly positive noting Product does a lot of things very well & is a milestone leap upwards in our capabilities compared to our prior product, especially in respect to EDR capabilities. When SentinelOne CEO and co-founder Tomer Weingarten launched the company in 2013, he had a revolutionary vision to transform the way organizations protect their data and devices by building software that doesn't just observe but prevents and deflects in real-time.. Their platform, which automates endpoint protection, detection, response, and remediation, offers large organizations a . And with that, let me turn it to Nick Warner, our Chief Operating Officer. To me, that was inspiring. SentinelOne - founded by Almog Cohen and Tomer Weingarten. We also expanded our marketplace ecosystem through new partnerships with Zscaler and Cloudflare, partnering with other zero trust leaders strengthens our customers' security postures. I think we're definitely seeing an elevation of the brand. It's about creating a more secure endpoint in the most holistic way possible. Thank you. Not If We Focus on Cyber Resilience, Protecting the Hidden Layer in Neural Networks, Crime Blotter: Hackers Fail to Honor Promises to Delete Data, How the Economic Downturn Has Affected Security Funding, M&A. We're making tremendous progress with large enterprises, which represent about two thirds of our business. And with our vision of XDR being open, being inclusive, being easy to use, what we're really doing is up-levelling the capabilities of those traditional and already installed products, adding tremendous value with the Singularity platform, but weaving that all in together to a complete and holistic view of security, which is really the promise that we're delivering upon with XDR. And so that's the right way to think about our global field presence is adding all of those folks up and understanding that each time we're adding a partner behind that are hundreds of sales reps, doing 2000 plus accreditations to date, that's really building that flywheel, but we're absolutely going to continue to invest in our own SentinelOne personnel as it relates to go-to-market. Mr. Ashkenazi holds a B.S.C.S. Are we seeing escalation and the prices of labor? Cloud-native companies from social media networks to ride-hailing providers tend to be very mindful of what's being deployed into production environments, especially if the service they offer is entirely based on the cloud. Prior to joining us, Mr. Ashkenazi served in various leadership positions at Check Point Software Technologies, Ltd., a cybersecurity company, including as Head of Global Professional Services, from January 2004 to May 2014. We just announced that we'll be expanding our engineering excellence into the Czech Republic. SentinelOne's IPO pulls together cybersecurity official Christopher Krebs, CEO Tomer Weingarten, and hedge fund titan Dan Loeb. Definitely on the enterprise side, weve seen more lends with our complete tier, actually were more attached to ranger, more attached to vigilance, more attached to data retention. SentinelOne CEO Tomer Weingarten closed on a $11.5-million home in Los Altos, just below the asking price, according to public records. He says the company is expanding into critical areas such as cloud security posture management and cloud infrastructure entitlement management. But judging by the numbers, thats not really the case. So we're going to actually have each quarter a bigger sales team that is also more efficient helping us continue to drive growth. It's incredibly holistic again in nature. Career Our sales reps, sales engineers, channel managers really investing in our go-to-market engine but at the same time, what we've been also able to yield is increasingly greater sales efficiency. In Q2, we enhanced our capabilities around automation, zero trust and data. As he told me in June 2019, SentinelOne was aiming at the $8 billion endpoint security market which protects smartphones, laptops, tablets, cloud services, and Internet of Things (IoT) devices which access corporate systems from cyberattacks. Opinions expressed by Forbes Contributors are their own. 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