Endpoint security — the branch of cybersecurity that focuses on data coming in from laptops, phones, and other devices connected to a network — is an $8 billion dollar market that, due to the onslaught of network breaches, is growing fast. To underscore that demand, one of the bigger startups in the space is announcing a sizeable funding round.
SentinelOne, which provides real-time endpoint protection on laptops, phones, containers, cloud services and most recently IoT devices on a network through a completely autonomous, AI-based platform, has raised $120 million in a Series D round — money that it will be using to continue expanding its current business as well as forge into new areas such as building more tools to automatically detect and patch software running on those endpoints, to keep them as secure as possible.
The funding was led by Insight Partners, with Samsung Venture Investment Corporation, NextEquity participating, alongside all of the company’s existing investors, which include the likes of Third Point Ventures, Redpoint Ventures, Data Collective, Sound Ventures and Ashton Kutcher, Tiger Global, Granite Hill and more.
SentinelOne is not disclosing its valuation with this round, but CEO and co-founder Tomer Weingarten confirmed it was up compared to its previous funding events. SentinelOne has now raised just shy of $130 million, and PitchBook notes that in its last round, it was valued at $210 post-money.
That would imply that this round values SentinelOne at more than $330 million, likely significantly more: “We are one of the youngest companies working in endpoint security, but we also have well over 2,000 customers and 300% growth year-on-year,” Weingarten said. And working in the area of software-as-a-service with a fully-automated solution that doesn’t require humans to run any aspect of it, he added, “means we have high margins.”
The rise in cyberattacks resulting from malicious hackers exploiting human errors — such as clicking on phishing links; or bringing in and using devices from outside the network running software that might not have its security patches up to date — has resulted in a stronger focus on endpoint security and the companies that provide it.
Indeed, SentinelOne is not alone. Crowdstrike, another large startup in the same space as SentinelOne, is now looking at a market cap of at least $4 billion when it goes public. Carbon Black, which went public last year, is valued at just above $1 billion. Another competitor, Cylance, was snapped up by BlackBerry for $1.5 billion.
Weingarten — who cofounded the company with Almog Cohen (CTO) and Ehud Shamir (CSO) — says that SentinelOne differs from its competitors in the field because of its focus on being fully autonomous.
“We’re able to digest massive amounts of data and run machine learning to detect any type of anomaly in an automated manner,” he said, describing Crowdstrike as “tech augmented by services.” That’s not to say SentinelOne is completely without human options (options being the key word; they’re not required): it offers its own managed services under the brand name of Vigilance and works with system integrator partners to sell its products to enterprises.
There is another recurring issue with endpoint security solutions, which is that they are known to throw up a lot of false positives — items that are not recognized by the system that subsequently get blocked, which turn out actually to be safe. Weingarten admits that this is a by-product of all these systems, including SentinelOne’s.
“It’s a result of opting to use a heuristic rather than deterministic model,” he said, “but there is no other way to deal with anomalies and unknowns without heuristics, but yes with that comes false positives.” He pointed out that the company’s focus on machine learning as the basis of its platform helps it to more comprehensively ferret these out and make deductions on what might not otherwise have proper representation in its models. Working for a pilot period at each client also helps inform the algorithms to become more accurate ahead of a full rollout.
All this has helped bring down SentinelOne’s own false positive rate, which Weingarten said is around 0.04%, putting it in the bracket of lower mis-detectors in this breakdown of false positive rates by VirusTotal:
“Endpoint security is at a fascinating point of maturity, highlighting a massive market opportunity for SentinelOne’s technology and team,” said Teddie Wardi, Managing Director, Insight Partners, in a statement. “Attack methods grow more advanced by the day and customers demand innovative, autonomous technology to stay one step ahead. We recognize SentinelOne’s strong leadership team and vision to be unique in the market, as evidenced through the company’s explosive growth and highly differentiated business model from its peer cybersecurity companies.”
By virtue of digesting activity across millions of endpoints and billions of events among its customers, SentinelOne has an interesting vantage point when it comes to seeing the biggest problems of the moment.
Weingarten notes that one big trend is that the biggest attacks are now not always coming from state-sponsored entities.
“Right now we’re seeing how fast advanced techniques are funnelling down from government-sponsored attackers to any cyber criminal. Sophisticated malicious hacking can now come from anywhere,” he said.
When it comes to figuring out what is most commonly creating vulnerabilities at an organization, he said it was the challenge of keeping up to date with security patches. Unsurprisingly, it’s something that SentinelOne plans to tackle with a new product later this year — one reason for the large funding round this time around.
“Seamless patching is absolutely something that we are looking at,” he said. “We already do vulnerability assessments today and so we have the data to tell you what is out of date. The next logical step is to seamlessly track those apps and issue the patches automatically.”
Indeed it’s this longer term vision of how the platform will be developing, and how it’s moving in response to what the current threats are today, that attracted the backers. (Indeed the IoT element of the “endpoint” focus is a recent additions.
“SentinelOne’s combination of best-in-class EPP and EDR functionality is a magnet for engagement, but it’s the company’s ability to foresee the future of the endpoint market that attracted us as a technology partner,” a rep from Samsung Venture Investment Corporation said in a statement. “Extending tech stacks beyond EPP and EDR to include IoT is the clear next step, and we look forward to collaborating with SentinelOne on its groundbreaking work in this area.
Amazon sets a date for its big 2021 Echo and Ring devices event
Amazon has set the date for its next big devices and services event, and if previous years are anything to go by we can expect new Echo and Ring hardware along with potentially a few surprises. The event will kick off at 9am PT (12pm ET) on Tuesday, September 28, and as with last year’s it’ll be online-only.
Last year Amazon didn’t hold back on new smart home hardware. Along with the new Echo Show 10, which could rotate under its own power to face the person interacting with it, Amazon also had a new, spherical Echo smart speaker.
The smaller Echo Dot – and its Echo Dot with Clock sibling – offered a lower price point, and the new Echo Dot Kids Edition dressed that up in more playful designs. As for Ring, we saw the Ring Car Alarm debut, plus the promise of end-to-end video encryption. Amazon also announced a collaboration with Tesla, with the Ring Car Connect for the automaker’s EVs.
Elsewhere, the Eero Pro 6 and Eero 6 added WiFi 6 to the familiar mesh networking, while the Fire TV Stick and Fire TV Stick Lite kicked off pricing at under $30. Amazon also introduced Luna, its cloud gaming service, complete with a dedicated wireless controller.
Just as much a showcase for hardware, though, Amazon’s events have become demonstrations for its software changes. Alexa typically plays a key part in that – last year we saw group calling support, Netflix on Echo Show, and interactive teaching tools – but it’s also an opportunity to see what developer tools and improvements have been introduced.
Finally, it’s a chance for Amazon to surprise. Last year, that meant the Ring Always Home Cam – a flying camera drone that promised automated patrols of your house – though the gadget is still yet to actually launch commercially.
For 2021, it’s likely we’ll see refreshes of Amazon’s core Echo range. After all, with the holidays approaching, that’s a key opportunity for Amazon to put more smart speakers in users’ homes – and double-down on their commitment to Alexa as a platform, rather than the Google Assistant or Apple’s Siri. The new Amazon-branded Fire TV range could also be expanded.
We’ll probably also hear more about the controversial Amazon Sidewalk, the shared neighborhood network that Amazon opted to enable by default earlier in the year.
On the “weird tech” side, that could well be the rumored wall-mounted Echo touchscreen. Billed as being an in-wall smart home hub, it would help position Alexa as a key way of interacting with the connected home and IoT, if the rumors are to be believed.
After iPhone 13: The new tech coming in 2022, 2023, and 2024
Over the next few years, the iPhone will see some significant changes. This year’s iPhone 13 didn’t exactly make major waves when it came to upgrades VS last year’s model lineup. According to high-level Apple product predictions released this week, the changes will come in the years 2022, 2023, and 2024 in the form of punch hole front-facing cameras, under-display Touch ID, and foldable smartphones from Apple.
Notes from Apple analyst Ming-Chi Kuo relayed by 9to5Mac suggested that the iPhone line released in the year 2022 would include two higher-end devices with a punch-hole display. Kuo also suggested that these devices would include a new 48MP wide camera, and would be joined by a new and “more affordable” 6.7-inch iPhone.
Kuo also noted the addition of an under-display fingerprint reader for the year 2023. This technology began to appear in Android devices over the last few years, but hasn’t yet matured to the point at which Apple has been comfortable releasing it on a release-level iPhone. The iPhone under-display Touch ID system is predicted to be a part of the iPhone 15 (or whatever it’ll be called) released in the year 2023 – or later.
The most massive change to the iPhone line comes in the prediction of a foldable device. Ming-Chi Kuo suggested that the “foldable iPhone” won’t be released until the year 2024. It is not yet known whether this foldable iPhone will be released at the same time as the traditional iPhone, what it’s price will be, or if it’ll actually truly ever be released at all!
ALSO NOTE: There’ll likely be a new iPhone SE coming in the year 2022 with expanded mobile data radio coverage. This means 5G support for said iPhone SE, likely appearing in the first half of the year 2022.
If you’re currently preparing to purchase an iPhone and want to wait for the newest possible device – you’re in luck, since the iPhone 13 will be available in stores on September 24, 2021. The release date is the same for iPhone 13, iPhone 13 Mini, iPhone 13 Pro, and iPhone 13 Pro Max, all coming on September 24th, 2021. Take a peek at comparisons between the iPhone 13 models and iPhone 12 and see what you make of them. Then stick around as we prepare to release our review of the iPhone 13 and beyond!
IKEA Sjomake makes DIY hidden wireless charging a $40 upgrade
IKEA is making it easy to hide wireless charging in your nightstand, desk, or coffee table, with the new Sjömäke wireless pad keeping its Qi out of sight. Unlike IKEA’s earlier charging pads, which slot into circular cut-outs in the tabletop, this new high-power pad is intended to hide underneath yet still allow for wireless charging through the surface.
In fact, IKEA claims, it should work just fine through tables and other worktops that are 3/8″ to 7/8″ thick, just as long as they’re not metal. The Swedish retailer includes double-sided tape for mounting it underneath, though there’s also support for screws or other fixings if you prefer.
Plug in the six foot long power cable, meanwhile, and then you have a discreetly hidden Qi charging pad. IKEA includes some stickers that you can optionally use on the top of the table or nightstand, so that you know whereabouts to position your phone or other device for best charging results. Or, you can leave them off altogether, and have the whole thing seem a little more magical.
The pad is a fairly uninspiring design, given it’s intended to be hidden from sight. It’s 1-inches thick, 7-inches long, and 3-inches wide. An indicator LED on the side shows whether or not it’s actively charging a device, though of course there’s a fair chance that you won’t be able to see that in day to day use.
Indeed, IKEA says that you really shouldn’t use the pad with a phone or other device without anything in-between. According to the user manual, there should be at least around 8mm between the two, presumably because IKEA has tuned the charging coils to take into account some sort of gap.
As for the charging rate, expect around 5W. Less, certainly, than you’d get from some of the other Qi pads on the market right now, but certainly sufficient if you’re leaving your phone to one side as you sleep or work.
Currently, the Sjömäke is listed at $39.99 on IKEA’s site, though it’s not yet available to order. The retailer confirmed to The Verge that it will be going on sale in October, both in the US and in other international stores, both at its physical locations and online.
This isn’t, of course, IKEA’s first flirtation with wireless charging. Back in 2018, the company ran a high-profile welcome campaign for the iPhone 8, highlighting how Apple’s addition of Qi support meant that the smartphone would now work with the Swedish company’s chargers that were build into tables, lamps, and more.
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