Welcome to Seeking Alpha's Venture Capital Deals of the Week. Follow this account and turn on the email alert to receive VCDeals in your inbox on Friday afternoons.
Samsung (OTC:SSNNF,OTC:SSNLF) Venture participated in a $120M Series D for SentinelOne, an autonomous endpoint protection company. Insight Partners led and was joined by NextEquity and all previous investors, including Third Point Ventures, Redpoint Ventures, and Data Collective. SentinelOne now has more than $230M in total funding.
SentinelOne provides real-time endpoint protection through a fully autonomous, AI-based platform. The protection extends to laptops, phones, containers, cloud services, and now to IoT devices. The new funds will help expand the current offerings and build more tools to detect and patch software running on the endpoints.
The startup has over 2,500 customers and says three of the Fortune 10 deployed in the past 12 months. SentinelOne says ARR grew 217% Y/Y but didn’t specify a figure.
Samsung Venture statement explaining its investment: “As an investor, 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. 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.”
Other top deals of the week:
- Pending: SoftBank (OTCPK:SFTBF,OTCPK:SFTBY) neared an investment in Brazilian fintech company Nubank. The talks are in early stages and the final amount isn't decided, but a Vox report suggests a $1B investment at a $10B valuation. Nubank has 8.5M clients in Brazil, plans to expand into Mexico, and could use the cash to further its international expansion.
- Seeking: HomeAdvisor and ANGI (NASDAQ:IAC) competitor Thumbtack is raising up to $120M in Series H shares, according to a Delaware filing. The startup previously raised nearly $300M in funding. The current infusion comes with a $1.3B valuation, flat on the Series G valuation. TechCrunch heard M&A rumors ahead of the surprise, which might’ve come to pass when a deal fell through.
- Qualcomm (NASDAQ:QCOM) participated in a $65.4M Series D round for SiFive, a fabless semiconductor company building customized silicon based on the open RISC-V instruction set architecture. Sutter Hill Ventures, Chengwei Capital, Spark Capital, Osage University Partners, and Huami led the round, which brought total funding up to $65.4M. SiFive competes with SoftBank's legacy chipmaker Arm, which counts Qualcomm among its largest customers. The new funding will go towards advancing its technology and international expansion.
- Salesforce (NYSE:CRM) Ventures backed a $60M round for collaborative software startup Highspot. Iconiq Capital led with additional help from Shasta Ventures, Madrona Venture Group, and OpenView. Highspot's software provides metrics on customer interaction with marketing materials, which provides feedback to the sales people behind those materials. Highspot software integrates into Salesforce's products, explaining the investment participation.
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