What was the mix in the quarter? Your feedback and trust puts us on the winning side of cyber warfare every day. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. So to us, again being completely cloud native, being multi-talented is a competitive differentiator we have for that part of the market. They use our technology to understand what's going on, stop the attack and remediate the network. Earlier this year, we rolled out a new channel partner training and accreditation program. This success has attracted some of the worlds largest companies as customers and earned industry accolades, including a spot on the CNBC Disrupter 50 list, being named the highest-rated vendor on Gartner Peer Insights Voice of the Consumer: Endpoint Detection and Response Solutions report, and being listed as the 7th fastest growing company in the latest Deloitte Technology Fast500. We're rapidly expanding this ecosystem and its driving meaningful growth for us. 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%. I realize we're running long here, but wanted to add a second question. Mr. Smith holds a B.S. His background was mostly in analytics. The dollar-based net retention rate: 124%. These companies are more identified with firewall solutions. Two years ago, when SentinalOne raised $120 million, it was valued at $500 million. Everyone here has a lot to be proud of, especially how quickly we've scaled in just the past year alone. I've been at SentinelOne for over four years now. The biggest benefits are coming from our increasing scale and business expansion. 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. Tomer co-founded SentinelOne in 2013. 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. I want to pause on that for a second. The next question is from Roger Boyd with UBS. Great, and appreciate you guys taking my question. In the past year, we've more than tripled the number of customers with ARR over 1 million. The growing threat landscape is just one of them. Across the entire enterprise from endpoint to cloud companies want partners and platforms not siloed point solutions. Before launching the company in 2013, he had helped to create several other tech startups. So we really think about growing the business from a new model perspective, as well as learning to extend, someone asked a question on that the answer is yes, we're doing both. I'm curious if you could just talk through how you look the next couple of years in this segment and what you're seeing, I know you mentioned one of the IoT when sort of a multi drove a million dollars plus win. Thank you. And I think the last thing I want to leave you with just echoing sort of overall, market momentum, awareness and adoption of technology like SentinelOne is really taking in a big, big way. At Coty Inc., Sue Nabi scored perhaps the biggest CEO pay deal ever granted in the world of beauty: $283 million. 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. And we'll do that for the foreseeable future. What that enables customers to do is achieve the outcome we're driving for them and our prospects and customers, which is protection and prevention. 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. SentinelOne not only provides native protection around endpoints, cloud workloads and identity but also can ingest data from any other product in the customer's enterprise, Weingarten says. Technology. 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. But no one is showing them how - Now its true that SentinelOne faces intense competition. This is truly a testament to the hard work of the entire team at SentinelOne. Our future is unbounded. To me, that was inspiring. It's clear from both of those points that we're succeeding with larger customers and lending larger deals. Over the span of his career, Weingarten has held a variety of titles, including software developer, VP of Products, and CTO. At Tableau Software, Mr. Conder led the companys legal and regulatory affairs from its 2013 IPO through extensive growth and international expansion, including its acquisition, integration, and ongoing growth as a part of Salesforce.com, Inc. Hey guys, thank you for taking my question and congrats on your first quarter post-IPO. I will then turn it to Nick and Dave to provide some highlights from our most recent quarter and outlook. Mark Parrinello has served as our Senior Vice President of Global Sales since February 2020. These two companies represent the new generation of end-user security companies, and they are challenging both the old views and the veteran players, which are trying to reinvent themselves. And specifically, when we talk about cloud security, we talk about workload protection platform and runtime protection. David, maybe my follow-up for you. 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. LinkedIn, follow us on Operationally, we've expanded our board of directors and instituted an advisory board. That concludes the conference call. facebook, follow us on "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. Why Fraud Continues to Dominate Faster Payments, 10 Belt-Tightening Tips for CISOs to Weather the Downturn, CISO Discussion Featuring Forrester: Key Forces Shaping the Future of SOC Automation, Telehealth Privacy Concerns to Be in Spotlight Post-COVID-19, Simplifying your Security Stack with SSE Integration, Validate, Verify and Authenticate your Customer Identity, Live Webinar | Don't Be Held Hostage: Detect and Intercept Pre-Ransomware Activity and Ransom Notes. SentinelOne will use the proceeds from its IPO for acquisitions, more sales people, and expanding what its product does for customers. That's really helpful. Microsoft back then wasnt about hardware, there was nothing to feel. Wed, Sep 8 2021 7:07 PM EDT. Our net retention rate was 129%, a new record for our company, fantastic execution from our sales and go-to market teams. LinkedIn, follow us on Next, I'll share some insights on our go-to market. That's more control and more automation and more prevention. Equally important, is you really have to have some foresight and an understanding of the problem domain. Remember that what youre building is for the customer and the end user. But I wanted to go into a slightly different angle on the cloud architecture that you bring. Thank you. We're working on getting our largest customers over first, which is why you see the depth that we're expecting in the second half, but going forward, we think we should have a baseline of around where we're at right now, barring any other efficiencies we see on the product as we continue to advance it. In Q2, we added Storyline Active Response, or STAR. Jun 30, 2021, 3:00 AM. It also spends more on sales and marketing (97 percent compared to 87 percent). This is Nick here. 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That is the way to make an impact in this world.. Haaretz.com, the online English edition of Haaretz Newspaper in Israel, gives you breaking news, analyses and opinions about Israel, the Middle East and the Jewish World. SentinelOne has expanded the scope of its business since I first spoke with Weingarten about two years ago. Opinions expressed by Forbes Contributors are their own. The road isnt always simple when you lead a company to disrupt a very large space and really break new grounds. That gives me tremendous confidence in the long-term growth potential in front of SentinelOne. The focus instead should be on having the right data that produces signals that can be modelled. Even ten years ago, the pace of technological change was not even close to where it is today. Weingarten served as the company's co-founder and CTO from May 2011 to May 2012. Hear how and why we're today's fastest growing cybersecurity platform . That was a great question from Roger. The colleagues of Tomer Weingarten. Hi, good afternoon. After enjoying a 21% rise on its first day of trading, is it too late to invest in SentinelOne? I'm just wondering, ultimately how much of an opportunity there is that those customers for additional purchases? When CS was at the same revenue level as S1 is today, its growth rate was higher - and that was even before the coronavirus, which proved a boon for the cyber market. The Mountain View, California-based company was founded in 2013 by Israelis Tomer Weingarten, its CEO, and Almog Cohen. We're still in early innings, but it's massive, its macro and its global. Two years ago, the American company CrowdStrike held its initial public offering, which valued it at almost $7 billion. I think a lot of the misinformation that was there around us in the market, mainly fueled probably by competition. Yet SentinelOne is doing pretty well. 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. But even today, CS is growing at a rate of 74 percent, a very high rate for a company its size. And following the call, an audio replay will be available on the Investor Relations section of our website. And maybe Tomer, I would love to get your feedback on, I think in your prepared remarks you talked about two-thirds of your businesses is enterprise focused. So all in all, we feel pretty good about our ability to continue and grow in these customer accounts, both in terms of covering more footprints but also in terms of selling more modules. I mean, you mentioned real quick the duplicative costs associated with the Scalyr migration. Our customers want real-time response and protection. SentinelOne has 4,700 customers, which means its per-customer income is lower. The first item is share count. So all in all, we're definitely seeing an opportunity that's almost completely Greenfield there. I believe for us it's really about the holistic approach we're taking that allows us to win both, I guess, incumbents and against the next gen peers. The reason? Could I just, I guess follow on about the connected environment. Additional proof of this can be seen in the amount of time it takes the company to recoup its sales and marketing expenditures. Its a fantastic company, with astounding marketing and performance capabilities.. One, our 97% gross retention rate, which means our customers are happy and staying with us. Got it. What we're seeing and Tomer talked about this is with a tremendous innovation, introduction of new modules, new surfaces to protect new problems to solve. Keenan Conder has served as Chief Legal Officer and Corporate Secretary since September 2021. Its listening on one end, grabbing as much data as you can, taking that data, distilling it, and building the best prediction that you can for the future and for your product. statements reflect our best judgment based on factors currently known to us and that actual results and events could differ materially. Therefore, its no surprise that the company continues to burn through cash. Ms. Ghatak is a member of the board of advisors of Findem, Inc., a company that uses an artificial intelligence platform to assist companies in their employee hiring, since February 2021. Yes. Equally critical is machine speed detection, response and remediation. From there, Weingarten says, the customer picks and chooses what data to transport into the SIEM for ticketing purposes or to respond to workflows that are already in place. And just remember that what youre building is for the customer and end-user. 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