High-flying endpoint security vendor SentinelOne plans to spend $155 million to acquire log management startup Scalyr, beefing up a crucial technology piece to drive its ambitions in the enterprise cybersecurity market.
SentinelOne, a late-stage startup jostling for a share of the expanding anti-malware market, expects the Scalyr deal to speed up its push into the lucrative XDR (Extended Detection and Response) category.
"With this acquisition, SentinelOne will be able to ingest, correlate, search, and action data from any source, delivering the industry’s most advanced integrated XDR platform for realtime threat mitigation across the enterprise and cloud," the company said in a statement.
For Scalyr, which launched in 2011 and raised about $27 million in venture capital funding, the $155 million price tag provides a successful exit for a range of investors, including Shasta Ventures, Susa Ventures and Bloomberg Beta.
Based in San Meteo, Calif., Scalyr was founded by Writely/Google Docs creator Steve Newman. The company sells what it calls "blazing-fast" log management for engineering and operations teams, the kinds of tools that fit perfectly in the EDR/XDR category.
As Microsoft has proven with the success of building out Windows Defender into a full-fledged enterprise security tool with capabilities beyond just malware-detection, competitors and startups are moving fast to add SIEM-like capabilities to traditional endpoint anti-malware tools.
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SentinelOne said its data services team will continue selling log management, observability, and event data cloud solutions in conjunction with the upcoming ..
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