In this series, we dive into the pre-IPO tech market and I’m excited about going deeper their change drivers and stakeholders while exploring funding traction. First of all, these posts are helpful for IPO-investors who want to know about changes in valuation and pricing.
Recent IPOs stay strong. Vroom is still up 127% from its $22 IPO price, nCino is up 134% from its $31 IPO price and Lemonade is still up 174% from its IPO price of $29. GoHealth is down from its $21 per-share IPO price, but it is the exception to the rule. Jamf is doing well to boot.
👉 PART 1 👉 PART 2 👉 PART 4 👉 PART 5
Exabeam (Forecast 2021)
- Founded Date — 2013 (HQ, SF, CA)
- Founders — Domingo Mihovilovic, Nir Polak, Sylvain Gil
Funding traction, total raised ~$193M + secure deals
- Series A — 2013 at val. $7.1M (post-money), $0.375 pps
- Series A1–2014 at val. $31M, $1.09 pps
- Series B — 2015 at val. $130M, $3.24 pps
- Series C — 2017 at val. $270M, $5.57 pps
- Series D — 2018 at val. $560M, $9.66 pps
- Series E — 2019 at val. $820M, $12.63 pps
Robinhood IPO (Forecast 2021)
- Founded Date — 2013 (HQ, SF, CA)
- Founders — Baiju Bhatt, Vlad Tenev
Funding traction, total raised ~$1.7B
- Series A — 2014 at val. $66M, $0.20 pps
- Series B — 2015 at val. $270M, $0.64 pps
- Series C — 2017 at val. $1.31B, $2.51 pps
- Series D — 2018 at val. $5.61B, $10.15 pps
- Series E — 2019 at val. $7.6B, $12.48 pps
- Series F — 2020 at val. $8.6B, $12.50 pps (source)
- Series G — 2020 at val. $11.2B (source)
JFrog IPO (Forecast Q3 or Q4 2020)
- Founded Date — 2008 (HQ, SF, CA)
- Founders — Fred Simon, Shlomi Ben Haim, Yoav Landman
Funding traction, total raised ~$227M + secure deals
For a number of reasons, pps&valuation information cannot be disclosed.
- JFrog announced that trying to hire banks for 2020 IPO
- The company’s executives have begun talks with investment bankers in New York to pick an underwriter for the potential IPO, which could value the business at $1.5 billion
JFrog Ltd — S-1 IPO Investment Prospectus
DarkTrace IPO (Forecast Q4 2020 / Q1 2021)
- Founded Date — 2013 (HQ, SF CA and Cambridge UK)
- Founders — Dave Palmer, Emily Orton, Jack Stockdale, Nicole Eagan, Poppy Gustafsson
Funding traction, total raised ~$239M + secure deals
- Series A — 2015 at val. $73M, $53.71 pps
- Series B — 2015 at val. $120M, $70.42 pps
- Series C — 2016 at val. $220M, $116.85 pps
- Series C1–2016 at val. $390M, $189.83 pps
- Series D — 2017 at val. $810M, $373 pps
- Series E — 2018 at val. $1.6B, $716.48 pps
Cambridge-based cyber security world leader Darktrace continues to work towards an IPO — possibly in the US and UK — next year after growing its market capitalisation to more than $2B.
Coinbase IPO (Forecast Q4 2020 or Q1 2021)
- Founded Date — 2012 (HQ, SF, CA)
- Founders —Brian Armstrong, Fred Ehrsam
Funding traction, total raised ~$547M+ secure deals
- Series A — 2013 at val. $23M, $0.20 pps
- Series B — 2013 at val. $150M, $1 pps
- Series C — 2014 at val. $500M, $2.76 pps
- Series C1–2016 at val. $510M, $2.76 pps
- Series D — 2017 at val. $1.6B, $8.25 pps
- Series E — 2018 at val. ~$8B, $36.19 pps
Coinbase reported to consider late 2020, early 2021 public debut (source)
To be continued…
👉 PART 1 👉 PART 2 👉 PART 4
👉 PART 5 👉 PART 6 👉PART 7
👉 PART 8
About the Author
Mr. Koch — a serial entrepreneur and late-stage investor specializing in secondary shares.
Previously: Twilio, Xiaomi, iQiyi, Tilray, Livongo, Bandwidth.
Currently: Robinhood, Grab, Toss, Coursera, Epic Games, Chime, and other companies.
Contact — here, If you are a startup building in this space — email or DM me to be included on this article.
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The content was collected from various open sources, approved by companies, and does not provide any one-stop recommendation for the purchase of shares. All data was used for only informational purposes and does not contain insider information that may be malicious or refuted by the company and SEC.
This communication does not represent an offer or solicitation to buy or sell securities. Such an offer must be made via definitive legal documentation by the buyer or seller of securities, please check the SEC rules before buying shares from any stock-suppliers.
