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SentinelOne’s upgraded IPO pricing is nice information for Tiger, public markets and your native VC

Because the second quarter races to a detailed, we’re all the way down to the wire for IPOs seeking to get out earlier than June ends. One such firm is SentinelOne, a cybersecurity startup backed by Perception Enterprise Companions, Redpoint, Tiger World Administration, Knowledge Collective and Anchorage Capital, amongst others.

SentinelOne raised an ocean of capital whereas non-public, together with nearly $500 million across two rounds in 2020. Its debut is subsequently an enormous liquidity occasion for a number of investing teams. And in the present day, the cybersecurity unicorn had excellent news within the type of an improve to its IPO value vary.


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Final week, The Trade wrote that the corporate’s IPO can be a “good warmth verify for the IPO market” given its speedy development and tempo of losses. How buyers valued it might assist clarify the general public market’s present urge for food for loss-making startups. Right now’s information implies wholesome appetites.

SentinelOne raised its IPO value vary this morning from $26 to $29 per share to $31 to $32 per share, a large elevate to its valuation and IPO elevate.

This morning, we’re unpacking the corporate’s new valuation vary, eager about SentinelOne’s development and income outcomes in comparison with related public corporations, and dealing to grasp if the corporate is cheap, neutrally priced or costly in comparison with present comps. Sound enjoyable? It will likely be!

What’s SentinelOne price?

Recall that when SentinelOne final raised capital it was valued at $2.7 billion on a pre-money foundation. The corporate was subsequently price just below $3 billion after the $267 million spherical. The unicorn goes to yeet that determine into area in its IPO, barring one thing catastrophic.

Its new IPO price range of $31 to $32 per share values the corporate on a a lot richer foundation. With an anticipated easy share rely of 253,530,006 after its IPO, inclusive of a personal placement, the corporate can be price $7.86 billion to $8.11 billion.