Cybersecurity Startup SentinelOne Ups IPO Price, Eyes $8.1B Valuation

between $31 and $32 per share. The company also is offering underwriters a 30-day option to buy an additional 4.8 million shares. SentinelOne plans to file on the New York Stock Exchange under the ticker symbol “S.”

The cybersecurity tools that SentinelOne offers are powered by artificial intelligence (AI) and aim to prevent attacks, detect risks and more. The solutions work across a single autonomous XDR platform, according to the release.

The lead book-running managers are Morgan Stanley and Goldman Sachs. BofA Securities, Barclays Capital, and Wells Fargo Securities are active book-running managers. Additional book-running managers include UBS Investment Bank, Jefferies, and Deutsche Bank Securities. Co-managers include Piper Sandler, BTIG, Cowen, Needham & Company, Loop Capital Markets, Drexel Hamilton and R. Seelaus & Co.

Accounting for the price increase, SentinelOne is now looking to raise about $1.02 billion, up from $928 million. The startup could be valued as high as $8.11 billion, Reuters reported.

“Companies are trying to do battle with criminal networks that frankly often outstrip the ability of a technical staff. AI and automation are probably the easiest path to success for most organizations,” security specialist Christopher Krebs told Business Insider“And not just small and medium businesses, but federal government agencies with massive estates.”

He added that he will be the first member of SentinelOne’s advisory board.

Last week SentinelOne was targeting a valuation of $7 billion.

The increase in computer hacking, ransomware, and…

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