SentinelOne: 2020 CNBC Disruptor 50

The 2020 CNBC Disruptors are 50 private companies at the epicenter of a changing world, poised to emerge from the pandemic as the next generation of billion-dollar businesses.

Founders: Tomer Weingarten (CEO), Almog Cohen
Launched: 2013
Headquarters: Mountain View, California
Funding: $430 million
Valuation: $1.1 billion
Key technologies: AI, cloud computing, machine learning, Internet of Things, software-defined security
Industry: Cybersecurity
Previous appearances on Disruptor 50 List: 0

George Kavallines

Among the many negatives to come from the coronavirus pandemic is the increased incidences of cybercrime. In April the FBI said that the number of cybercrime reports it has received quadrupled compared to before the pandemic. That dismal stat is presenting a huge opportunity for cybercrime start-ups like SentinelOne. The Mountain View, California-based firm offers a machine learning-based solution for monitoring and securing laptops, phones and many other devices and services connected to a company's network.

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In February it raised $200 million in funding from Insight Partners, Third Point Ventures, Tiger Global Management and Qualcomm Ventures. This is on top of the $120 million it raised last year. The company is now valued at around $1.1 billion, and co-founder and CEO Tomer Weingarten says an IPO is "imminent."

SentinelOne focuses on endpoint security. Last year this segment of the market was estimated to be worth $8 billion, and analysts say it's growing quickly. That's because nearly everyone working for a company, or doing work for a company, is now connected to the company's network, often with more than one device. That makes it harder for companies to monitor not only what their network looks like but what cybercriminals are looking for.

The company's AI-based solution is built around detecting endpoints and their vulnerabilities. Its Singularity platform then applies behavioral models and various modes of protection, detection and response and works across the entire network. The company currently has about 3,500 customers, including three of the biggest companies in the world, and says it has seen 113% year-on-year new bookings growth, annual revenue growth of 104% and 150% annual growth in transactions over $2 million. It has 500 employees today and plans to hire up to 700 by the end of this year.