AI-powered cybersecurity company SentinelOne has acquired Bengaluru-based security startup Pingsafe for more than $100 million, the media reported on Monday.
Peak XV-based PingSafe, a leader in Cloud Native Application Protection Platforms (CNAPP), was acquired by US-based SentinelOne last week but financials were not disclosed.
A report in TechCrunch, citing sources, has now pegged the acquisition value at $100 million.
Founded in 2021, PingSafe has around 100 employees and more than 50 customers, mostly in India.
Rajan Anandan, who leads Surge at Peak XV, had posted on X that PingSafe is "among the fastest 'seed to significant exits' Indian ecosystem has ever seen".
Anand Prakash, founder and CEO of PingSafe and one of the world's top five white hat hackers, had said that "the combination of our cutting-edge CNAPP capabilities with SentinelOne's market-leading AI security platform will supercharge cloud security by providing world-class protection for multi-cloud infrastructure, from development to deployment."
PingSafe is a robust CNAPP solution that delivers dynamic, real-time monitoring of multi-cloud workloads, simple setup and configuration and low false positive rates.
"With PingSafe, we can cut through the noise delivered by many CNAPP solutions to identify and prioritise the most critical threats and take an offensive approach to preventing them before they impact our business," said Ashwath Kumar, Principal Security Engineer at Razorpay, one of the largest payment processors in India.
Prajal Kulkarni, CISO at Groww, said that they must be able to quickly identify, prioritise and respond to cloud misconfiguration seamlessly and correlate issues across our large cloud environment, and "PingSafe provides us with a centralised dashboard that makes this easy and cost-effective to do."
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