AI-powered cybersecurity company CrowdStrike has held its IPO of 18 million shares of its Class A common stock.
The price has been set at $34 per share. Its shares will commence trading on the Nasdaq Global Select Market on June 12, 2019, using the name ‘CRWD’.
Underwriters have been offered a 30-day option to purchase up to 2.7 million additional shares of the Class A common stork as the initial price.
Goldman Sachs & Co., J.P. Morgan, BofA Merrill Lynch and Barclays are serving as the lead book-running managers for the sale.
This public launch has come a year after the cybersecurity company closed a $200m Series E round which had valued the platform at $3bn. Investors of the round included Accel, General Atlantic, IV, March Capital and CapitalG.
Founded in 2011, CrowdStrike is a cloud-native endpoint protection platform which helps prevent breaches, it claims. Leveraging AI technology, the platform protects customer from a range of threats posed to their endpoints.
Its offerings include incident response, threat prevention, service overview, and threat detection and response.
The cybersecurity sector has been of growing in terms of funding, according to data by RegTech Analyst. Since 2014, the number of investment deals in the space has risen from 18 to 32.
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