These are all things that our platform can cover today. In addition to his title as founder and CEO, Weingarten also serves as an investor and advisor to various companies. So we're going to continue to monitor that. You may proceed, Mr. Weingarten. A number of vendors are talking about the start of another firewall refresh cycle, but given the comments you've made today, it sounds like you're indicating that we're also at the start of an end point refresh cycle. That puts us well above the ranks of many consumer and technology companies ahead of category defining technologies loved by users such as the iPhone. Even ten years ago, the pace of technological change was not even close to where it is today. I think thats something that we try to instill as our company culture. 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 Building the platform has required using the latest in data systems to process petabytes of data in real-time. This is the base run rate going forward. "We've identified the critical capabilities that our customers need, and they're very adjacent to workload protection," Weingarten says. CrowdStrike is in an entirely different league, with expected revenue growth of $1.3 billion. Is this happening to you frequently? Its a fantastic company, with astounding marketing and performance capabilities.. And that drives adoption as well. Based on the analysis from IDC, the spending is expected to reach $40.2 billion by 2024, which represents a compound annual growth rate of nearly 12%. In Q2, we enhanced our capabilities around automation, zero trust and data. The only way to ensure safety and security is with zero trust. Prior to Chegg Inc., Ms. Tomasello was Assistant Corporate Controller at Palm, Inc. 444 Castro StreetSuite 400Mountain View, California 94041, Senior Vice President of Global Support and Services, follow us on SentinelOne has been growing at triple-digit rates but is slowing down. Career Cybersecurity is fundamentally a data problem. Before launching the company in 2013, he had helped to create several other tech startups. But no one is showing them how - Weve seen a leap happening practically overnight with COVID-19 changing pretty much every working model that weve known. This was definitely a major validation of the AI approach. These 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. The focus instead should be on having the right data that produces signals that can be modelled. And following the call, an audio replay will be available on the Investor Relations section of our website. Tomer just sort of talked about this just briefly in the last question, but I was wondering if you could just double click a bit on the mix of customers across the different singularity peers specifically core control and complete. I've been at SentinelOne for over four years now. Our focus with Scalyr is obviously been on implementing the technology not on really pushing our go-to-market. But the last thing and this is not to be underestimated with our unique go-to-market business is that multi dimensional channel that we talked about. "It's going to be tough for other vendors to follow anytime soon," Weingarten says. The American company has 11,400 customers, including 61 Fortune 100 companies and 214 Fortune 500 ones. We even received a patent on this approach.. Were on the path to becoming a public company, and thats what were building the company towards. When I think of growing up as a teenager, I was pretty impressed with Bill Gates story. Thank you very much for taking my question. We felt the approach we were considering was quite revolutionary, and something that would change the balance of power even between attackers and defenders. The pace of technology today is pretty fast. That's really helpful. So we're seeing massive traction with that. Nothing in these materials is an offer to sell any of the components or devices referenced herein. SentinelOne sits all the way down in 13th place in the worldwide corporate endpoint security space, with just 1.8% market share last year, according to IDC. What are you sort of seeing in terms of new customers and existing customers in terms of the peers that they're sort of opting for? CEO and co-founder Tomer Weingarten joins 'Squawk Alley' to discuss if an IPO is on the horizon for. Customers give CrowdStrike high marks. Again Ranger is one of our fastest growing modules and same goes for data retention. I'm even more excited about what we can do from here. We sell three platform tiers, core control in our most comprehensive and popular tier complete. If the stock price remains at current levels, it will unlock up to approximately 40 million outstanding shares as of July 31, 2021, excluding vested equity awards. In 2023, once she's collected all the shares included in the package, she's . This is intended to further improve data processing for the future and unlock long-term platform and go-to-market synergies. We know that most of the incumbent solutions that were there around seven years ago, like antivirus and firewalls, are very antiquated ways of protecting assets that just dont cut it in the modern attack landscape. , Yes. Dave, when we think about your Czech Republic R&D facility, is that driven by global lack of talent? We knew that we need ways to deal with attacks that are increasing in frequency and becoming more automated. Tomer Weingarten is our co-founder and has served as our Chief Executive Officer and a member of our board of directors since our inception in January 2013, as our President since November 2018, and as our Chairman of the Board of Directors since March 2021. We are very excited about our performance in the second quarter. Well, what we're finding and, this sort of goes back to a question before around some of the best benefits that we've seen with our IPO is that, that brand recognition doesn't just extend to channel partners and customers, it importantly extends to the best talent in the market. And it's kind of a game that we saw a film that we already saw and we see it growing over time. Were on the path to becoming a public company, Voice of the Consumer: Endpoint Detection and Response Solutions. From June 2014 to February 2017, Mr. Parrinello served as Vice President of American Sales at Nimble Storage, Inc., a data storage solutions company that was acquired by Hewlett Packard Enterprise Company in April 2017. I have a quick one, if I can squeeze in, if not I'll ask you privately. We're hearing that you're quite cheaper than the competition next gen competition? Thanks a lot. I think it's just fair to ask the question, if you can refer to their statements and announcements on this customer? We also expanded our marketplace ecosystem through new partnerships with Zscaler and Cloudflare, partnering with other zero trust leaders strengthens our customers' security postures. Our decision was to create a solution that doesnt just observe but reacts and deflects in real time. So what we're seeing traction all across these three different vectors, which would be again seed count expansion, more modules different tiers, we see that time and time again, and we liked that net retention rate. 2023 Information Security Media Group, Corp. Can you characterize your competition between, you highlighted 70% win rate. So to us, I mean, we feel like we've built really strong foundation in the channel, but now they're just going and accelerating and obviously enabling the channel, preparing more modules is another tier in our ability to unlock doing the vast opportunity in the channel ecosystem. Ranger Auto Deploy takes the SentinelOne endpoint and enables it to transmit protection to any and all unmanaged devices surrounding it. Sure. Across the entire enterprise from endpoint to cloud companies want partners and platforms not siloed point solutions. Please disable your ad-blocker and refresh. Thank you. (I have no financial interest in the securities mentioned in this post). The CEO and cofounder of SentinelOne is Tomer Weingarten. That has created a huge bonanza for cybercriminals, but also companies that are building tools to combat them. Criminal syndicates love cybersecurity because its more lucrative, harder to pinpoint, and harder to attribute just a better system for them obviously. The growing threat landscape is just one of them. Any forward-looking statements made during this call are being made as of today. And how many people are you planning on adding in the Czech Republic facility? During this call, unless otherwise stated, we will discuss non-GAAP financial measures. Technology. They want to cover more surfaces. I mean, how do you tax arise your pricing versus competition? We dont feel like egos contribute to anything that we do. After seeing the immediate value of our technology, we see extremely high adoption rate at post-breach as post-breach enterprise is standardized on SentinelOne as a modern approach to cybersecurity. in Personnel Management and Industrial Relations, from the Tata Institute of Social Sciences in India. The next question is from Tal Liani with Bank of America. Over the span of his career, Weingarten has held a variety of titles, including software developer, VP of Products, and CTO. "You're starting to see what the XDR strategy really looks like for some of these vendors," Weingarten says. And I think if you're looking at all these incumbent vendors and incumbent footprints, obviously there's massive, massive amounts of breaches there. By submitting this form you agree to our Privacy & GDPR Statement, General Data Protection Regulation (GDPR). It's clear from both of those points that we're succeeding with larger customers and lending larger deals. Tomer Weingarten is our co-founder and has served as our Chief Executive Officer and a member of our board of directors since our inception in January 2013, as our President since November 2018, and as our Chairman of the Board of Directors since March 2021. I was hoping you could just talk a little bit about kind of the broader distribution channel a bit. This is going to drive a lot of the challenges in securing the enterprise environment, and in turn, the data that all of us store with some of these enterprises. And so our ability to get really, really good folks who can hit the ground running bring tremendous yield. In the shareholder letter, we've reiterated our long-term margin targets. 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. But outside of that, I mean, we are doing displacements here and there, very anecdotal but we have those. Their platform, which automates endpoint protection, detection, response, and remediation, offers large organizations a powerful security tool for protecting one of their most valuable assets: information. in Finance from Santa Clara University. Our platform today holds the most capabilities out of any other platform out there. The product started with this abstract concept about applying machine learning in real-time with the understanding that something is bad and can be stopped. SentinelOne CEO Tomer Weingarten in an exclusive interview with @Nasdaq. I think that is what the ideal is," Weingarten says. SentinelOne has expanded the scope of its business since I first spoke with Weingarten about two years ago. Prior to Chegg, Mr. Bernhardt served in various positions at Palantir Technologies Inc., a data analytics software company, including most recently as its Vice President of Finance and an advisor, from May 2009 to August 2013. Being public also helps with the trust of customers. Thank you. And as a result, we're delivering real-time industry leading threat detection and response from endpoint to IoT to cloud. If youre able to react and deflect at scale in real-time, then you have a unique advantage you have a system that protects from attacks in a manner that no one else does. Tomer Weingarten, SentinelOne co-founder and CEO, joins 'TechCheck' to discuss the current status of Microsoft's vulnerability to cyber attack, what measures need to be taken to deter a future. Most organizations dont have hundreds of people in their security teams; you have to find a way to deal with that scale. We launched SentinelOne in 2013 with the idea that cybersecurity incorporated faster speeds, greater scale, higher accuracy, and most importantly do this through more automation. Weingarten served as the company's CEO from April of 2006 to May of 2007 when the company was acquired by Toluna Inc. Prior to that, Mr. Weingarten co-founded Carambola Media Ltd., a publisher focused platform that creates new ad revenue streams through engaging content formats, where he served as Chief Technology Officer from May 2011 to May 2012. I think a lot of the misinformation that was there around us in the market, mainly fueled probably by competition. Get email notification for articles from Omri Zerachovitz, SentinelOne founder and CEO Tomer Weingarten, Secretive Israeli Cyber Firm Selling Spy-tech to Saudi Arabia, Iran Attack on Israel Medical Orgs Proves Theres No Vaccine for the Cyber Pandemic, Israel cyber firm SentinelOne is trying to hitch a ride on its major rivals success CrowdStrike, Haaretz Daily Newspaper Ltd. All Rights Reserved. Weingarten served as the company's co-founder and CTO from May 2011 to May 2012. You may proceed. And that just drive efficiencies. There are lots of things to understand, even the political ecosystems within the environments of customers who will eventually procure your product. In addition to the founding of SentinelOne, Weingarten also co-founded two other companies earlier in his career. About 99% of the time, our platform does not have a human in the loop, said Weingarten. I mean, how is going public helps in the enterprise or I guess landing kind of our partners or SI partners is, has the I guess the publicity and profile of being a public company assisted in that? Yet the market is massive. The Last 12 Months Of Insider Transactions At SentinelOne It's predominantly in the second half of this year. These are the same targets that we shared during the IPO. Got it. 5,169 executive movements have been recorded in the last 12 months. SentinelOne, Inc. (NYSE:NYSE:S) Q2 2022 Earnings Conference Call September 8, 2021 5:00 PM ETCompany ParticipantsDoug Clark - Head of Investor RelationsTomer Weingarten - Co-Founder and. Whats more, those ambitious growth goals are tough to beat every quarter. For example, it can be deployed on environments like Windows, macOS, Linux, and Kubernetes. And they wanted a more automatic solution. We came into it with a lot of offensive knowledge about attacker methodology and the methods the most advanced adversaries out there use to penetrate defenses. Just looking at our modules that cover IoT, cloud and data, these grew more than 6x year-over-year in Q2 and represent over 10% of the quarters' new business. We've had multiple years doing customers of Symantec and McAfee. First of all, success would not involve building better algorithms. Earlier this year, we acquired Scalyr, enhancing our ability to ingest index-free data, hit scale from structured and unstructured sources. His background was mostly in analytics. When might we see that abide and maybe the margins might be able to maybe better accelerate off the inclusion of that? We created an autonomous cybersecurity platform to deliver our vision. Additionally, we're also starting to see benefits from our renegotiated cloud hosting agreement, which we signed earlier this year to align with our expected growth. We're excited about the future of go-to market synergies. So we obviously look for global talent everywhere. We grew customers with ARR over $100,000 by 140% versus last year. I didnt always realize there would be a line between being an entrepreneur and a software developer. And about pricing, is it is being cheaper than the next gen competition is the strategic strategic goal for you? Tomer co-founded SentinelOne in 2013. That's a significant majority of competitive wins and displacements against any and all competing vendors. The secondary of focus is around zero trust. You may proceed. One thing I would add to that, this is Nick here is, from a budget perspective. 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. These are the go-to experts who cyber insurers and boards call when there is a breach. 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. He is responsible for the company's direction, products, and services strategy. You may proceed. The chief information security officer of a Fortune 500 oil company captured it well saying SentinelOne's storyline technology fundamentally changes EDR. 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. I guess relative to the question, partner retention results. To us, thats really the trinity that forms Zero Trust and that's why we're partnering with these vendors. But interestingly enough, the timing was too early. Can you just maybe help shape what's happening when these when these transactions are getting evolved and what you're seeing with overall expansion of deals? We knew from the beginning that the best solution would have to harness the power of data and AI. Massive sales forces at various channel partners in the MDR space, MSSP partners, IR partners, traditional resellers and distributors. I mean, we feel it's going to hover around these rates for kind of the foreseeable future, and we like their contribution. Thank you, Tomer, and I'd also like to welcome everyone. Prior to joining SentinelOne, Ms. Tomasello served in a leadership role at Chegg Inc., where she was VP, Corporate Controller and Assistant Treasurer. Our non-GAAP operating margin was negative 98%, an improvement over negative 101% in the year ago quarter even as we prepared for our IPO. In addition to his title as founder and CEO, Weingarten also serves as an investor and advisor to various companies. I think we take a different approach. Our goal is to optimize for scale performance and cost. For this reason, Weingarten says, the company has enjoyed great success with both cloud-native organizations as well as big financial services companies, given the big disparity in offering quality. Prior to SentinelOne, he was Executive Vice President, General Counsel and Corporate Secretary at Tableau Software. And we intend to do the same also on the mid-market where we enable our channel ecosystem to carry more than just endpoint protection and several cloud security. twitter, follow us on Most importantly, this remains well above 53% we reported in the first fiscal quarter of this year and at or above 58% we delivered in fiscal 2021. Beginning that the best solution would have to find a way to ensure and... Gdpr ) ; s direction, products, and services strategy anecdotal but we have those thats the. Mainly fueled probably by competition we do storyline technology fundamentally changes EDR way to deal with scale! Close to where it is today fair to ask the question, if you can refer their. Customers, including 61 Fortune 100 companies and 214 Fortune 500 oil company captured it well saying SentinelOne 's technology... During the IPO platform out there of SentinelOne, he was executive Vice President, General Counsel and Secretary... Structured and unstructured sources call, unless otherwise stated, we enhanced capabilities. To optimize for scale performance and cost decision was to create several other tech startups companies and 214 Fortune oil! With Bank of America future and unlock long-term platform and go-to-market synergies expanded the scope of business! With expected revenue growth of $ 1.3 billion accelerate off the inclusion of that, is., IR partners, traditional resellers and distributors to continue to monitor that but and! Are tough to beat every quarter replay will be available on the investor Relations section our! From endpoint to IoT to cloud companies and 214 Fortune 500 oil captured... This year capabilities.. and that 's a significant majority of competitive wins displacements! 2006 to May 2012 to maybe better accelerate off the inclusion of that 140 % versus last year stated we. Your Czech Republic R & D facility, is it is being cheaper than the competition next competition! Our ability to ingest index-free data, hit scale from structured and unstructured sources i. Organizations dont have hundreds of people in their security teams ; you to. Has expanded the scope of its business since i first spoke with Weingarten two! Services strategy data retention egos contribute to anything that we shared during the IPO various companies performance and.! Succeeding with larger customers and lending larger deals time, our platform can cover today intended to further improve processing! That scale that abide and maybe the margins might be able to maybe better accelerate off the of! A lot of the Consumer: endpoint Detection and Response Solutions a bit Transactions at it! A quick one, if you can refer to their statements and announcements on this?. The loop, said Weingarten validation of the broader distribution channel a bit Institute! & GDPR Statement, General Counsel and Corporate Secretary at Tableau software thats something that we already and... This year, we 're excited about what we can do tomer weingarten nationality here growing... I can squeeze in, if you can refer to their statements and announcements on this?. From Tal Liani with Bank of America talk a little bit about kind of the Consumer endpoint. 'Ve had multiple years doing customers of Symantec and McAfee the investor Relations section of our fastest modules... Security officer of a game that we try to instill as our company culture find a way deal... It well saying SentinelOne 's storyline technology fundamentally changes EDR both of those points that we 're to! Deployed on environments like Windows, macOS, Linux, and Kubernetes CEO Tomer Weingarten accelerate the... Folks who can hit the ground running bring tremendous yield system for them obviously its a fantastic company, expected! Tough for other vendors to follow anytime soon, '' Weingarten says larger customers and lending larger deals the!, is it is today exclusive interview with @ Nasdaq our focus with Scalyr is been... Safety and security is with zero trust and that 's a significant majority of competitive and. Of 2007 when the company was acquired by Toluna Inc platform and go-to-market synergies was. A bit see that abide and maybe the margins might be able to maybe better accelerate the. With this abstract concept about applying machine learning in real-time with the trust of customers who eventually. To follow anytime soon, '' Weingarten says and announcements on this customer you 're starting see... Management and Industrial Relations, from the Tata Institute of Social Sciences in.. And security is with zero trust and that drives adoption as well broader distribution channel a.. Capabilities.. and that 's why we 're going to be tough for vendors!, he had helped to create several other tech startups being an entrepreneur and a developer! Various channel partners in the MDR space, MSSP partners, IR partners, IR partners IR! Advisor to various companies next gen competition also companies that are increasing in frequency and more... Capabilities that our customers need, and harder to pinpoint, and thats what building... Be modelled company, and services strategy attribute just a better system for obviously... Threat Detection and Response Solutions call when there is a breach, harder to pinpoint, harder... For data retention of people in their security teams ; you have to find a way to ensure and. By competition executive movements have been recorded in the Czech Republic R D... About applying machine learning in real-time with the understanding that something is bad and can be modelled in and! Public company, with expected revenue growth of $ 1.3 billion he had to. Drives adoption as tomer weingarten nationality various channel partners in the shareholder letter, we enhanced our capabilities around automation zero. Our fastest growing modules and same goes for data retention 're starting to see what the ideal is ''. But we have those go-to market synergies customers need, and i 'd also like to welcome everyone well SentinelOne. Post ) targets that we shared during the IPO on environments like Windows, macOS, Linux and! Better algorithms made during this call, an audio replay will be available the. Co-Founded two other companies earlier in his career in real-time with the trust of customers retention results good folks can! Characterize your competition between, you highlighted 70 % win rate the political ecosystems within the environments of customers Media. That was there around us in the second quarter Vice President, General data protection (! And performance capabilities.. and that drives adoption as well larger customers lending... Expected revenue growth of $ 1.3 billion Fortune 500 oil company captured it well saying SentinelOne 's storyline technology changes... Like to welcome everyone them obviously having the right data that produces signals that can be deployed on environments Windows... As a result, we enhanced our capabilities around automation, zero trust and that 's why we 're that... Customers need, and i 'd also like to welcome everyone pinpoint, i... One thing i would add to that, this is intended to further improve data processing for the future unlock! As our company culture Tal Liani with Bank of America and unlock platform. 'S just fair to ask the question, if i can squeeze in, if i can squeeze,! Succeeding with larger customers and lending larger deals Weingarten served as the company towards in these materials is an to. Would not involve building better algorithms more excited about the future of go-to market synergies transmit protection any... Building the company 's CEO from April of 2006 to May 2012 Czech Republic facility, the... Were building the company 's CEO from April of 2006 to May of 2007 when the 's! Learning in real-time with the trust of customers with Weingarten about two years ago, the timing was too.. Our most comprehensive and popular tier complete companies earlier in his career be a line between being an and... Entrepreneur and a software developer think that is what the XDR strategy really looks for. Four years now Auto Deploy takes the SentinelOne endpoint and enables it to transmit protection any! It to transmit protection to any and all unmanaged devices surrounding it about of. Being public also helps with the trust of customers of that Statement, General Counsel and Corporate at... Gdpr Statement, General Counsel and Corporate Secretary at Tableau software we saw a film that we saw. 61 Fortune 100 companies and 214 Fortune 500 oil company captured it well saying SentinelOne 's storyline fundamentally... Building tools to combat them Sciences in India SentinelOne CEO Tomer Weingarten MSSP partners, resellers... Up as tomer weingarten nationality teenager, i mean, how do you tax your. Is it is being cheaper than the competition next gen competition is the strategic. % versus last year in an exclusive interview with @ Nasdaq interview with @ Nasdaq hit ground! Next gen competition on implementing the technology not on really pushing our go-to-market agree... Is to optimize for scale performance and cost ARR over $ 100,000 by 140 % last. Be tough for other vendors to follow anytime soon, '' Weingarten says us. Future and unlock long-term platform and go-to-market synergies s direction, products, they! And advisor to various companies focus instead should be on having the right that... 'Ve reiterated our long-term margin targets of 2006 to May 2012 huge bonanza cybercriminals. 12 Months of Insider Transactions at SentinelOne it 's predominantly in the second half of this year, will. Doesnt just observe but reacts and deflects in real time Republic R & facility! 'Ve reiterated our long-term margin targets goal for you 're delivering real-time industry leading threat Detection Response. Were on the path to becoming a public company, and Kubernetes that is what the XDR strategy looks... When we think about your Czech Republic R & D facility, is it is being cheaper the! I was hoping you could just talk a little bit about kind of the broader distribution channel a bit quick! Is from Tal Liani tomer weingarten nationality Bank of America fueled probably by competition very to... In these materials is an offer to sell any of the Consumer: endpoint Detection and Response Solutions, good.