- CrowdStrike, a rapidly growing cybersecurity company, filed to go public and will be selling 18 million shares of Class A common stock between $19 and $23 each
- At the mid-price point, this would allow CrowdStrike to raise $378 million with a valuation of more than $4 billion
- CrowdStrike is going to trade on the Nasdaq under the ticker symbol “CRWD.”
Cybersecurity company CrowdStrike is preparing to go public and revealed it will be selling 18 million shares of Class A common stock between $19 and $23 each. Based on the mid-price point, CrowdStrike would raise about $378 million at a valuation of more than $4 billion, according to TechCrunch. CrowdStrike is planning to trade on the Nasdaq under the ticker symbol “CRWD.”
CrowdStrike is known for developing cloud-native endpoint protection software that can prevent cyber breaches. To date, CrowdStrike raised over $480 million in funding from several VC firms. Warburg Pincus owns a 30.2% pre-IPO stake in CrowdStrike. Accel has a 20.2% stake and CapitalG has an 11.1% stake. Based on CrowdStrike’s $200 million Series E funding in January 2018, CrowdStrike’s valuation was $3.3 billion. Former McAfee executives George Kurtz and Dmitri Alperovitch launched CrowdStrike in 2011.
CrowdStrike would be the second cybersecurity company to go public this year following Israel-based Tufin Software Technologies. Cybersecurity companies Zscaler, Carbon Black, and Tenable went public last year.
Recently, CrowdStrike and NSS Labs settled a lawsuit over the CrowdStrike Falcon tests. NSS Labs gave the Falcon a poor review publicly in the company’s first Advanced Endpoint Protection (AEP) Test Reports and Security Value Map. So CrowdStrike pursued the matter legally. NSS Labs agreed to publish a corrective statement with an apology over “inaccurate” Falcon tests reported ZDNet.
CrowdStrike’s revenue went from $53 million in 2017 to $119 million in 2018 and $250 million in the year ending January 31, 2019. And for the quarter ending April 30, 2019, revenue hit between $93.6 million and $95.7 million — which is about double the $47.3 million that the company saw in Q1 2018.
Goldman Sachs, JPMorgan, BofA Merrill Lynch, and Barclays will be managing the IPO.
